New York, NY, May 03, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Tube Packaging Market by Type (Squeeze Tubes, Twist Tubes), Material (Laminated, Aluminum, Plastic), for Cosmetics & Oral Care, Food & Beverages, Pharmaceuticals, Cleaning Types and Other Applications - Global Industry Perspective, Comprehensive Analysis and forecast, 2017 – 2023”. According to the report, global tube packaging market was valued at USD 7.14 billion in 2017, is expected to reach USD 10.96 billion by 2023 and is anticipated to grow at a CAGR of 7.4% between 2018 and 2023.
A tube is a hollow container that can be squeezed and used for the packing of thick of liquids such as toothpaste, cosmetic creams, food items, gums & glues, sealing, and ointment.
Browse through 147 Tables & 29 Figures spread over 110 Pages and in-depth TOC on "Global Tube Packaging Market Size 2017: Industry Share, Trends, Demand Analysis and Forecast, 2023”.
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The tube packaging market has been witnessing robust growth over the past few years. Increasing demand in different convenient and sustainable packaging has driven the growth of tube packaging market. Innovative packaging, flexible packaging, and lower cost high-quality printing are the major key drivers of tube packaging market. The market is undergoing intense competitions due to the presence of a large number of manufacturers in tube packaging sector.
By type, squeeze tubes segment is expected to witness the maximum growth rate in the forecast period. Squeeze tube can frequently be recycled without creating complications and deforming the packaging of the product which is another factor that contributing to the market growth. Squeeze tubes initially serve to the market for food & beverages industry, cosmetics & oral care, and pharmaceutical industry. In the material segment, laminated tubes are the most preferred material for packaging because of its excellent barrier quality. In 2017, laminated tubes segment was leading the market among other materials. Oral application segment is expected to dominate the global laminated tubes market by around 45% value shares during the forecast period.
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In 2017, the European tube packaging market accounts for the largest share among other regions. Tube packaging products used in larger scale various healthcare and toiletry products. The market is now growing in these countries because of technology advancement in tube packaging industry. In Europe region, Germany has the largest market share owing to growing working population and increasing demand for on-the-go food applications in that region.
In European countries, there are over 45% of the tubes used in the personal care and cosmetics industry, in that 21% each in the toothpaste segment and the pharmaceutical industry. Improving standard of living and increasing income in eastern European countries is expected to further intensify demand for cosmetic products. Europe is anticipated to grow over the forecast period on account of environment and government regulations.
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The Asia Pacific is one of the largest markets for tube packaging and is expected to grow substantially within the forecast period. The middle-class population of the region and rising incomes are the main reasons that drive the demand for easy and safe packaging, subsequently driving the growth of the tube packaging market. China’s big tube packaging manufacturers are propelling into the global tube markets. In addition, innovative progressions and quickly developing personal care industry is anticipated to contribute altogether finished the following years towards rising utilization in this region.
North America is poised to register robust growth, offering significant investment and growth opportunities for manufacturers in the coming years. The demand in this region is driven by the U.S. where the number of new product launches with tube packaging needs is growing rapidly.
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In the Middle East & Africa, The Middle East established to be an attractive market because of the rapid urbanization and availability of disposable income. South Africa region represented strong growing demand for healthcare products. The emerging economy in this region can provide the tube packaging market with various growth opportunities because of several companies has invested for improving.
Latin America represents a region with a huge potential for tube packaging market in near future. Rapid industrialization, change in lifestyle and technological advancements have been witnessed in the region over the past years. Improving living conditions, coupled with rising disposable income of the working population influences the growth of tube packaging market.
Key players profiled in the report include Essel Propack, Amcor Limited, Albea Group, Montebello Packaging, Worldwide Packaging, Huhtamaki OYJ, Constantia Flexible, Sonoco Product Company, VisiPak ltd, and Unette Corporation among others. The major players are involving to develop their product. The key players are taking active measures to develop their products and expand their production capabilities in near future.
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The report segments the global tube packaging market as:
Global Tube Packaging Market: by Type
- Squeeze Tubes
- Twist Tubes
Global Tube Packaging Market: by Material
- Laminated
- Aluminum
- Plastic
Global Tube Packaging Market: by Application
- Cosmetics & Oral Care
- Food & Beverages
- Pharmaceuticals
- Cleaning Products
- Others
Global Tube Packaging Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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