LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global tube and stick packaging market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global tube and stick packaging market for 2017-2021 provides a detailed industry analysis based on the end-users (cosmetics and oral care industry, food industry, and pharmaceutical industry), product (squeeze tubes, twist tubes, and cartridge), and geography (Europe, North America, APAC, and ROW).
|Tube and stick packaging materials are flexible and can easily change shape based on the nature of the product being packaged. These materials undergo detailed conversion processes, such as printing, coating, lamination, and extrusion to develop different sizes of tube packaging. Technavio analysts forecast the global tube and stick packaging market to grow to USD 9,590 million by 2021, at a CAGR of more than 7% over the forecast period.|
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The top three emerging trends driving the global tube and stick packaging market according to Technavio transportation and logistics research analysts are:
- Growth in online retail sector
- Emergence of multi-layered laminated tubes
- Consumer demand for sustainable packaging
Growth in online retail sector
The increasing Internet penetration, growing consumer trust on Internet sales, faster shipping services, and growing fragmentation of consumer choices are playing a significant role in the growth of the online retail sector. Consumers are attracted to the wide range of products available online.
“The growth in online retail is greatly increasing the demand for tube and stick packaging across the globe. A major upsurge will be noticed in demand for packaged dairy products, skin care, and oral care products while selling the products through online channels,” says Sharan Raj, a lead analyst at Technavio for packaging research.
Emergence of multi-layered laminated tubes
The pharmaceutical industry and skin care companies are coming up with more advanced natural and sophisticated formulations, which has, in turn, created a demand for protective packaging. Multi-layered laminate tubes with multiple barrier layers provide complex formulas with the necessary protection to prevent the formulation from any contamination. Barrier layers in multi-layered laminate tubes are usually made from EVOH plastic resin or aluminum. Plastic tube packaging widely uses EVOH as the barrier material in multi-layered tubes and offers benefits such as regaining its original shape even after getting squeezed during transportation.
Consumer demand for sustainable packaging
“Consumers across the world are becoming more environmentally aware and raising questions about sustainability. This has encouraged consumer product manufacturers to provide preference towards eco-friendly packaging materials as they provide an opportunity to promote environmental sustainability and attract eco-conscious consumers,” says Sharan.
The increase in environmental concerns and the need for pollution reduction have resulted in innovations of new eco-friendly designs with the minimal use of non-biodegradable materials in packaging. Tube packaging is extremely sustainable as it is light, consumes less energy, requires fewer natural resources, and generates lower carbon dioxide emissions.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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