Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Tube Packaging market.
Trusted Business Insights presents an updated and Latest Study on Tube Packaging Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Tube Packaging market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Global Tube Packaging Market
The global tube packaging market size was valued at USD 8.5 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2027. The growth in demand for the product is attributed to increased product application in the personal and oral care, healthcare, and food segments.
The healthcare segment is expected to significantly contribute to the growth of the overall market in the forecast period. Rising awareness about skin diseases through various campaigns, such as the SkinSerious campaign, is anticipated to generate the demand for topical creams and ointments, thereby benefitting the market growth.
Increased consumption of anti-tan, sunblock, and anti-aging creams among middle-aged men and women is another key factor boosting the demand for personal care products. Growing demand for compact packaging in the personal care and oral care industry has given a stimulus to tube packaging, which is anticipated to encourage the entry of new market participants in the future.
The product can be manufactured using various materials, such as plastics, aluminum, bioplastics, and paper. Plastic is the most commonly used raw material for this form of packaging. Demand for plastic tube packaging is high owing to several benefits such as excellent barrier properties, ease of use, and portability.
These forms of flexible packaging solutions have high potential in the market owing to rising consumer preference, less storage requirement, and low shipping cost. However, rising concerns over plastic waste, coupled with growing demand for sustainable packaging, are expected to augment the demand for bioplastics and paper in the industry over the forecast period 2021-2027.
Fluctuating raw material prices and trade barriers between economies might hamper tube packaging market growth. Commonly used plastics in the manufacturing of tube packaging solutions include polyethylene, polyethylene terephthalate, and polypropylene. Aluminum, another major raw material used in production, characterizes evidently volatile prices and largely depends on market performance.
Raw Material Insights: Global Tube Packaging Market
Plastic led the market and accounted for more than 50.0% share of the global revenue in 2019. PE is the most commonly used plastic for the manufacturing of extruded plastic tubes and is evident by increase in production capacities by key players, such as Formosa Plastics and Dow. In addition, various grades of plastics such as LDPE, MDPE, LLDPE, and HDPE are used for manufacturing the products.
Aluminum is expected to witness the fastest growth over the forecast period. It is the basic raw material that is used for manufacturing both aluminum and aluminum barrier laminate tubes. It offers a complete barrier to oxygen, moisture, light, and bacteria owing to which it is widely used in the packaging industry, most notably in pharmaceutical and food applications.
Aluminum tubes are also widely used for packaging ointments, adhesives and sealants, oxygen-sensitive hair products, skin care products, and art paints. However, some drawbacks of aluminum tubes as compared to extruded plastic tubes and plastic laminated tubes include higher costs and inability to retain the original shape after its repeated usage.
Laminate is another major product form that is manufactured by fusing two or more materials, which can either be plastic or aluminum foil. Laminate is a multilayered film in which plastic or aluminum barriers are used in between the outer and inner layers of the tube. Laminate is an assembly of materials that possess individual desirable properties to create an optimum combination.
Product Insights: Global Tube Packaging Market
The laminated tubes segment led the market and accounted for more than 44.0% share of the global revenue in 2019. Laminated tubes are manufactured using multiple layers of polymers or other materials, which act as an excellent barrier to light, moisture, and air, thereby extending the shelf life of packaged products. The most commonly used types of laminated tubes include aluminum barrier laminate (ABL) tubes and plastic barrier laminate (PBL) tubes.
ABL tubes consist of an aluminum foil layer that acts as the barrier while PBL tubes consist of various plastic layers and are a suitable option for packaging applications that require maintenance of the shape and form of tubes. Other barrier layers including EVOH, PET, and PA can also be incorporated to enhance the barrier properties of these laminated tubes.
The aluminum tubes segment is expected to expand at a CAGR of 4.9% over the forecast period. Aluminum tubes are airtight, corrosion-resistant, and impermeable. They provide excellent protection to the content in the tube and keep the content uncontaminated and fresh for a longer period of time. In addition, they provide a complete barrier to light, moisture, and oxygen owing to which aluminum tubes are widely used in the pharmaceutical and personal care application industries.
Aluminum tubes are costlier as compared to laminated and extruded plastic tubes. These tubes cannot retain their original shape after their repeated usage. Nevertheless, growing concerns pertaining to plastic waste, coupled with increasing demand for sustainable packaging, are expected to increase the demand for aluminum tubes as aluminum can be recycled indefinitely without losing its quality.
Application Insights: Global Tube Packaging Market
The personal care and oral care segment led the market and accounted for 38.0% share of the global revenue in 2019. This can be attributed to growing awareness pertaining to health and wellness, coupled with increasing demand for natural, free-from chemicals, and organic products. The rising aging population in the U.S. and Europe has further led to increased demand for products with anti-aging properties in the coming years, which is further expected to strengthen growth.
High disposable income, coupled with increasing spending on personal care products, especially from the younger population, is expected to bolster the growth of the global personal care industry. Furthermore, growing awareness among men with regard to personal grooming is expected to generate the demand for various personal care products, such as shaving creams, gels, shampoos, and face washes, which are often packaged in tubes.
The healthcare application segment is expected to expand at a CAGR of 5.1% during the forecast period. Rising healthcare spending in countries, including the U.S., Canada, and other European countries, is anticipated to have a positive impact on the segment growth. These countries are characterized by the presence of several major pharmaceutical manufacturing companies, such as Pfizer, Inc., Johnson & Johnson among others.
Tubes, most notably aluminum and laminated tubes, are widely used in the healthcare industry for packaging ointments, gels, and topical creams. Various healthcare products such as pain relief creams are packaged in tubes. However, with the advent of pain relief sprays, which offer easy application, demand for tubes is expected to be negatively affected over the forecast period.
Regional Insights: Global Tube Packaging Market
North America lead the market with a share of 32.8% in 2019 owing to high demand for the product from personal care and healthcare application industries. North America holds a sizable number of medium-scale tube packaging manufacturers that are striving to meet the demand from the application industries.
The U.S. was the dominant market in North America with a share of 60.54% in 2019 owing to the increasing demand for convenient and lightweight packaging. Plastic-based tube packaging, including laminated tube and extruded plastic tube, was a preferred material type in the country and held a dominant share in the market owing to the convenience in production and printing.
Europe was the third-largest regional market globally in 2019 and is expected to witness significant growth from 2020 to 2027. The market growth is attributed to the presence of many personal care and healthcare product manufacturers and contract manufacturers in the region.
Players in the European region have been continuously involved in product innovations aiming to meet the growing demand from various industries. One of such innovations includes paperboard tube packaging by Stora Enso. Stora Enso introduced its paperboard tube packaging for cosmetics application, which is considered a sustainable packaging that can be degradable and is also considered an alternative to plastic tube packaging.
Key Companies & Market Share Insights: Global Tube Packaging Market
Competitive rivalry in the industry is anticipated to be high over the forecast period. Several players operating in the market offer aluminum tubes, laminated tubes, and extruded plastic tubes that can be customized as per client requirements. Product quality, finishing, and cost play a key role in the purchase of these products from a particular player.
In addition, strategies such as mergers & acquisitions, new product developments, and partnerships are anticipated to increase competitive rivalry. For instance, in January 2020, Silgan Holdings, Inc., a U.S.-based company, announced the signing of a binding deal with Albea Group for the acquisition of Albeaâ€™s dispensing business for an amount of USD 900 million. Such partnerships are further likely to bolster market growth in the projected timeframe. Some of the prominent players in the tube packaging market include:
Key companies Profiled: Global Tube Packaging Market Report
- Essel Propack Limited
- Sonoco Products Company
- Montebello Packaging
- Huhtamaki OYJ
- Unette Corporation
- Romaco Group
- Hoffman Neopac AG
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global tube packaging market report based on raw material, product, application, and region:
Raw Material Outlook (Revenue, USD Million, 2016 – 2027)
Product Outlook (Revenue, USD Million, 2016 – 2027)
- Laminated Tube
- Extruded Plastic Tube
- Aluminum Tube
Application Outlook (Revenue, USD Million, 2016 – 2027)
- Personal Care & Oral Care
- Consumer Goods
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