DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Tube Packaging Market by Type (Squeeze Tubes, Twist Tubes), Application (Cosmetics & Oral Care, Food & Beverages, Pharmaceuticals, Cleaning Products), Material (Laminated, Aluminum, Plastic), and Region - Global Forecast to 2021" report to their offering.
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.
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 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.
- Advancements in Packaging Technology
- Growth in the Flexible Packaging Industry
- Demand for Excellent Barrier Properties
- Demand for Small-Sized Packs of Cosmetics and Personal Care Products
- Stringent Government Regulations Can Hinder the Growth of This Market
- Increase in the Demand for Innovative and Convenience Packaging
- Emerging Economies
- Growth in the Cosmetics & Toiletries Sector
- Changing Customer Preferences
- Availability of Substitutes
- 3D Technopack Ltd.
- Albea Group
- Alltube Group
- Amcor Ltd.
- Auber Packaging Solutions
- CCL Packaging
- Constantia Flexibles
- CTL Packaging
- Essel Propack Ltd.
- Hoffmann Neopac AG
- Huhtamaki OYJ
- Intrapac International Corporation
- M&H Plastics
- Montebello Packaging
- Sonoco Packaging Company
- Unette Corporation
- Unicep Packaging
- Viva Group
- Worldwide Packaging Inc.
For more information about this report visit http://www.researchandmarkets.com/research/wbckrn/tube_packaging
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