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The global Plastic Tube Packaging Market is expected to grow at ~6.02% CAGR during the forecast period 2022-2030.
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The global plastic tube packaging market is dynamic and is expected to witness high growth over the forecast period. The growth of the market is influenced by the long-term air quality and climate goals. Some of the key driving factors of the tube packaging market are significant growth in packaging industries coupled with innovative packaging and excellent barrier properties. The increasing adoption of lightweight rigid plastics is one of the key drivers propelling the growth of this market in the coming years. Lightweight packaging is becoming increasingly popular among the consumers as it helps in the significant reduction of transportation and carriage costs, leading to increased profits. Moreover, the mindset of end-users towards sustainable packaging plays an important role in the growth of the plastic tube packaging market. The cosmetics and oral care segment are anticipated to witness a huge growth in the future due to improved lifestyle globally, followed by pharmaceutical segment. The growing demand from the pharmaceutical industry has been instrumental in fuelling the overall growth of the plastic tube packaging market. The pharmaceutical packaging plays a major role in bringing down diseases by protecting the drugs from direct light, moisture, and damage while handling. Plastic tubes are mostly used in pharmaceutical because they have lower cost, lightweight, flexible, and unbreakable. The most commonly used material in plastic tube packaging is polyethylene. According to IMS Market Prognosis, the global spending on medicine for the year 2011 accounted for USD 956 billion and is estimated to reach USD 1,175-1,205 billion in 2016. The pharmaceutical sector accounted for 20% of spending on medicine in 2011 and is estimated to account for 30% in 2016.
Market Research Analysis:
The development of new and diversified technologies is creating opportunities within the packaging industry. Increasing demand for airless tubes across the globe and the availability of high-quality printing at a low-cost are driving the global plastic tube packaging market growth. Recent market trends show a very high growth rate for the flexible packaging industry, driving the global plastic tube packaging market. Very strict and stringent regulatory rules along with high competition from substitute products are restraining the market. The rapid growth rate of the cosmetics and toiletries market in the developing countries is an attractive investment opportunity in the global tube packaging market. Plastic tube demand in beauty is largely defined by Facial moisturizers and cleansers, toothpaste consumption. While future growth may primarily come from Asia and Latin America where the category expands in line with rising modern retail outlets, pack sizing strategies will be key in driving sales across the globe. Geographically, the global tube packaging market is significantly large in Europe and North America due to increasing per capita income and consumer spending. Moreover, Asia Pacific is expected to be the fastest growing segment.
The key players of global plastic tube packaging market includes Amcor Ltd. (Australia), Albea Group (Luxembourg), CCL Industries (Canada), Sonoco Products Company (U.S.), Sinclair & Rush, Inc. (U.S.), Essel Propack Ltd (India), Huhtamaki (Finland), Montebello Packaging (Canada), World Wide Packaging LLC (U.S.), Unette Corporation (U.S.) and others.
Scope of the report
This study provides an overview of the global Plastic Tube Packaging market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Plastic Tube Packaging market by its product and region.
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Market Segmentation:By Type
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