Global Collapsible Tube Packaging Market - 2022-2029

Global Collapsible Tube Packaging Market - 2022-2029

Market Overview

The global collapsible tube packaging market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029)

A collapsible tube is a hollow cylindrical component composed of plastic, aluminum, or other metals that may be collapsed. One end is sealed by folding or welding a section of the tube together, while the other end has an aperture for dispensing the fluid product. Because of their qualities and versatility, plastics are frequently employed in the packaging business. Rising awareness of the negative effects has resulted in strict regulations to regulate the processing and production of plastic. The majority of countries are enacting a slew of legislation to reduce environmental impact. As a result, several market firms are investing in developing plastic alternatives that do less or no environmental harm. Furthermore, a global trend of collecting recyclable plastics is being noted, which is projected to boost demand for collapsible tubes.

Market Dynamics:

Increasing demand for collapsible tube packaging in various industries

The personal care, cosmetics, and pharmaceutical industries are driving the collapsible tube market growth. The cosmetic and pharmaceutical sectors are growing due to rising disposable income and increasing the prevalence of various diseases. Collapsible tubes are both user-friendly and environmentally beneficial packaging options. Furthermore, increased customer worries about the negative impacts of plastic packaging have boosted the popularity of collapsible metal tubes. Manufacturers of collapsible metal tubes are putting a lot of effort into improving their manufacturing facilities to meet the increased demand, accelerating the market's growth. Additionally, the global collapsible tube packaging market is predicted to grow healthy due to rising consumer demand for environmentally friendly, safe, and convenient packaging options. Furthermore, rising disposable money combined with hectic schedules has led to consumers leading unhealthy and careless lifestyles, which has increased demand for pharmaceutical items. As a result, the pharmaceutical business expands rapidly, increasing the demand for collapsible tube packaging items.

Market Segmentation:

Squeeze tubes is the dominating segment during the forecast period

Squeeze tubes are the dominating segment in the global collapsible market during the projected period, with a CAGR of XX%. Squeeze tubes are used in a wide range of sectors, including hair, skin, personal care items, food, pharmaceuticals, painters' oil paint, adhesives, and sealants. Due to their unexpected barrier features such as non-poisonous, damage-proof, and sterile, reduced price, the convenience of use, ease of transportation, high elasticity, packaging variety, and eco-friendly use, squeeze tubes retained the greatest share of XX percent in 2021. Squeeze tubes are designed by Lami tube producers so that purchasers prefer the services they supply. Squeezable tubes were originally used for culinary products such as jams and mayonnaise, but cosmetics companies are now using them. Squeeze tube packaging is a natural, environmentally beneficial alternative that allows the producer to remember it for future marking efforts. Using tube bundling makes it possible to load exact amounts into the bundling and reuse unwanted bundling material regularly. Furthermore, with advancements in innovation, the raw materials used for tube bundling have become more eco-friendly. As a result of these factors, demand for squeeze tubes is rapidly increasing.

By application, pharmaceuticals emerged as the largest segment, accounting for more than XX% share in 2021. Tube packaging is more useful in the healthcare industry since it can maintain appropriate packaging conditions to extend the shelf life of packaged products. As a result, the convenience of use and dispensability will likely contribute to increased product demand in healthcare applications. The pharmaceutical sector is predicted to be driven by rising healthcare spending worldwide. This is projected to help the market expand.

Geographical Penetration:

North America is expected to dominate the global collapsible tube packaging market in the year 2021

North America was the largest market in 2021, with XX percent. Growing demand for collapsible packaging tubes at pharmaceuticals, cleaning products, cosmetics, and other applications and rising demand from the working population are expected to contribute to market revenue in a reasonable amount. Due to increased disposable income, Asia Pacific is predicted to rise significantly during the projection period. Manufacturers of cosmetics, medicines, and food, among others, use collapsible tubes for packaging a variety of viscous fluids such as paint, toothpaste, caulk, glue, and ointments. Product demand is predicted to rise as the pharmaceutical and cosmetic sectors expand.

The Asia Pacific market is expected to increase at a CAGR of XX percent during the forecast period. People are becoming more aware of beauty goods and new beauty creams accessible in the market, contributing to the region's growth. Consumer demand for environmentally friendly, safe, and convenient packaging solutions propels the market forward. Additionally, higher disposable income positively impacts client purchasing decisions, resulting in increased product demand. India and China have economies that manufacture at low costs and export to other parts of the world for a high profit margin.

Competitive Landscape:

The global collapsible tube packaging market is fragmented, and the global players are competing intensely with local and regional players and private labels. The key players in the collapsible tubes packaging market are The Berry Global Group, Amcor Limited, CCL Industries, VisiPak, Constantia Flexibles, Sonoco Packaging Company and Montebello Packaging. To boost their market share, manufacturers are focusing on developing new flavors and products. Hoffman Neopack AG announced a lighter plastic tube solution in February 2021, which utilizes up to 30% fewer virgin materials and helps to minimize carbon footprint and waste. Albea Group began work on a new factory in Huai'an, Jiangsu Province, China, north of Shanghai, in January 2020. To meet the growing demand from domestic and international beauty brands, the expansion will entail the development of new injection, decorating, and assembly equipment.

COVID-19 Impact:

Negative impact on the collapsible tube packaging market

The collapsible tube packaging market was negatively impacted due to trade disruptions and supply chain challenges. For the time being, the Covid-19 pandemic is predicted to cause economic instability and consequently increase unemployment. According to the International Monetary Fund (IMF), per capita income will fall in over 170 nations worldwide in 2020. This shift in wealth is projected to influence demand for lavish or high-end cosmetics, which will harm market growth. However, there seems an increase in the demand for collapsible tube packaging for oral care, food & beverage, and pharmaceutical applications for product packaging, during COVID-19. The demand for collapsible tube packaging in the pharmaceutical industry, is expected to remain robust as hospitals, drugs, and PPE manufacturers are responding to the crisis. The demand for household cleaning products, healthcare, and medical goods is not expected to decrease dramatically, and retail distribution for these types of products through online delivery can be expected to increase.

Why Purchase the Report?

Understand the current market scenario and viability of global collapsible tube packaging market over the forecast period

Visualize the composition of the global collapsible tube packaging market in terms of type, capacity, material, closure type, and application to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global collapsible tube packaging market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global collapsible tube packaging market report would provide an access to approximately 60 market data tables, 60 figures and 190 pages

Target Audience:

Pharmaceutical Manufacturers

Cosmetic Manufacturers

Food Service Industry

Industry Investors

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Research Professionals