02-May-2018 | Zion Market Research
With the presence of a large pool of participants, the Global tube packaging market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Essel Propack, Amcor Limited, Albea Group, Montebello Packaging, Worldwide Packaging, Huhtamaki OYJ, and Constantia Flexible are some of the key vendors of tube packaging across the world. These players across tube packaging market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the tube packaging market study.
Citing an instance, at the end of August 2018, Kiehl’s, an U.S. based cosmetics brand retailer specializing in body, hair, and skin care products, introduced Youth Dose Eye Treatment product in a user-friendly tube packaging. Reportedly, the product comprises Pro-Retinol as an ingredient, which has the ability to smoothen, brighten, and hydrate the under- eye area.
In yet another boost to tube packaging industry, in April 2018, Bain Capital purchased World Wide Packaging LLC, a leading provider of cosmetic packaging parts, plastic tubes, and formulation systems.
As estimated in this report, the global tube packaging market stood at US$ 7.14 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2023, the revenue in this tube packaging market is expected to reach US$ 10.96 billion by the end of the forecast period. The main products available in this tube packaging market are squeeze tubes and twist tubes. Among them, the demand for squeeze tubes is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Browse the full "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" report at http://www.zionmarketresearch.com/report/tube-packaging-market
High Preference For Flexible Packaging To Soar Tube Packaging Market Size
“Innovative & flexible packaging trends and minimal costs of high quality printing is likely to drive the growth of tube packaging market in the years ahead,” says the author of this study. Apart from this, escalating demand for tube packaging owing to user convenience and sustainability will accelerate the growth of tube packaging market over the forthcoming years. In addition, presence of large number of manufacturers across the tube packaging market will further impel the business scope in the ensuing years.
Accelerating Working Population To Support Europe’s Regional Dominance
Regionally, Europe has been leading the global tube packaging market and is anticipated to continue on the dominant position in the years to come, states the tube packaging market study. The changing lifestyle of the consumer along with rise in the working population in the region is the main factor behind the dominance of the Europe tube packaging market. In addition, increase in the purchasing capacity of the consumers will further boost the growth of tube packaging market in Europe.
The global tube packaging market is segmented as follows:
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