“Tube packaging market is projected to grow at a CAGR of 6.9%” The tube packaging market is projected to grow at a CAGR of 6.9% during the forecast period of 2016 to 2021 and reach USD 9.30 billion by 2021. The tube packaging market is gaining momentum due to factors such as the growth in the flexible packaging industry and increase in demand for small size packs for cosmetic and personal care products. Other factors driving the tube packaging market are advancements in packaging technologies and increase in demand for excellent barrier properties for the packaging of pharmaceutical products which are provided by laminated tubes. However, the stringent government regulations are restraining the growth of the tube packing market. The regulatory authorities ensure that the raw material used is a biodegradable waste. Hence, the packaging industry is required to make its packaging sustainable. The costs of using raw materials are high. This adds to the production cost. This becomes a major restraint to the market as the profit margin of the companies is reduced.
“Cosmetics & oral care, by application, held the largest market share in the tube packaging market in 2015” The cosmetics & oral care segment is estimated to dominate the application segment of the tube packaging market and is projected to be the fastest-growing segment during the forecast period. Improved standards of living, coupled with rising disposable income of the working middle-class population in emerging economies is expected to drive the growth of the cosmetics & oral care industry.
“The aluminum tubes segment is projected to dominate the tube packaging market through 2022” The aluminum tubes segment is estimated to dominate the material type segment of tube packaging market as aluminum tubes are light weight, shatterproof, impermeable, and flexible in nature and corrosion-resistant. Moreover, aluminum tubes prevent high volatile constituents of the contents from escaping and hence preserve the content for a longer period. Laminate tubes is projected to be the fastest-growing segment during the forecast period owing to its multi-layered barrier structure, which provides excellent barrier properties and minimizes the transfer of oxygen and light. Hence, laminated tubes are largely used for the packaging of pharmaceutical products.
“Europe dominated the tube packaging market in 2015” In 2015, Europe accounted for the largest share of the total tube packaging market, in terms of value, followed by North-America and Asia-Pacific. The demand for convenient, safe, and innovative packaging has driven this market in the European region. Asia-Pacific is projected to register the highest growth from 2016 to 2021, wherein, China is projected to be fastest-growing country-level market in the region. Factors such as the rising middle class population and higher disposable income in emerging economies of China, India, and Japan is expected to drive the growth of the cosmetics & oral care industry in Asia-Pacific region, which will subsequently drive the tube packaging market.
Breakdown of Primaries Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the tube packaging market.
Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources included professionals such as manufacturers, distributors, consultants, and academic professionals. The distribution of primary interviews is as follows:
By Company Type: Tier 1 –43%, Tier 2 – 33%, Tier 3 – 24% By Designation: C Level – 40%, Manager Level – 35%, Others- 25% By Region: North America – 20%, Asia-Pacific – 12%, Europe – 10%, Middle-East and Africa – 8%, Latin America– 50%,
Note: The tier of the companies is defined on the basis of their total revenue, as of 2015. Tier 1: Revenue > USD 500 million; Tier 2: USD 100 million The various key players profiled in the report are as follows: 1. Amcor Ltd. (Australia), 2. Albea Group (France), 3. Essel Propack Ltd. (India), 4. Huhtamaki OYJ (Finland), 5. Constantia Flexibles (Austria), 6. Sonoco (U.S), 7. VisiPak. (U.S.) 8. Montebello Packaging (Canada), 9. Unette Corporation (U.S.), 10. Worldwide Packaging Inc. (U.S.),
Research Coverage The segmentation considered for this report is based on type, material type, application, and regions that constitute the key markets. The report covers detailed information regarding the major factors influencing the growth of the tube packaging market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been carried out to provide insights into their business overview, products & services, key strategies, new product launches, agreements, expansions, and recent developments associated with the tube packaging market.
Reasons to buy the report The report will help the market leaders/new entrants in this market in the following ways: 1. This report segments the tube packaging market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions. 2. The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, opportunities, and challenges. 3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business. The competitive landscape section includes new product launches, expansions & investments, mergers & acquisitions, and agreements
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