Plastic Tube Packaging Market Share, Outlook and Future Scope Analysis by 2023
The tube packaging is comprised of a tube body, a tube shoulder on one of the sides of the tube body, and a tube opening to fill semi-solid substances. The walls of the tube body consist of minimum two layers consisting of a plastics layer & offset to form a tube interior and a barrier layer made of a material suitable for barrier layers. The Plastic Tube Packaging Market Share is mainly driven by the rising demand for cosmetics and personal care products. Increasing population is also driving the market globally. Food & beverages are alone a key driver of the global Plastic Tube Packaging Market Share. Cosmetics & oral care application segment is expected to observe an enormous growth in the forecasted period followed by Pharmaceutical.
The global tube packaging market is segmented on the basis of type (squeeze, extruded, twist, rigid tubes, and others), applications (Personal Care, Pharmaceuticals, Food, Consumer Goods and Others), and by geography (North America, Europe, Asia-Pacific, RoW) MRFR analysts observed that the Asia Pacific market, especially in China, is the fastest-growing segment, even though the market is led by Europe, currently. Rising per capita income of the consumers coupled with increasing purchasing power of the consumers in this region is accepted to be the key factors behind the growth of plastic tube market in this region. Plastic Tube Packaging Market Share is expected to grow at a CAGR of more than 6.02%.
The food and beverage markets represent the largest consumption group for packaging materials and machinery. From soup to nuts and water to booze, food and beverage products demand quite a bit from their protective vessels. Demand continues for ready-to-eat and on-the-go foods and drinks. With the increasing consumption of food, the demand for plastic tube packing is also increasing at a considerable rate. Food and Beverage is the major end user of the tube packaging market.
In terms of region, the global plastic tube market is segmented into four major regions including North America, Europe, Asia Pacific and RoW. Asia Pacific region has a huge opportunity for plastic tube packaging manufactures. The manufacturers are focusing on the launch of innovative pack formats, sizes, and functionality with leading pack types of squeezable plastic tubes, glass, and PET in response to consumer demand for convenience. With the increasing consumer income in countries such as China, India, and Brazil, the demand for good-quality packaged food is also increasing. Furthermore, growing population in many countries along with the increasing food & beverage consumption drive the demand for packaged food products. Moreover, growth in the oral and skin care and niche categories such as men’s grooming and baby care add fuel to the growth of the Asia Pacific market. On the other hand, fluctuation of raw material prices may act as a major barrier to the growth of the market.
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We recognize the key players in the global Plastic Tube Packaging Market Share as 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.
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