The benefits of using flexible packaging solutions will propel the growth of the global tube packaging market over the next few years.
Arizton’s recent market research report on the tube packaging market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by material (aluminum tubes, plastic tubes, laminated tubes, and others), by end-user (beauty and cosmetics, pharma and health, food, oral care, and house care), and by geography (North America, Latin America, Europe, MEA, and APAC).
The tube packaging market is projected to grow from over $7 billion in 2016 to more than $11 billion by 2022, growing at a CAGR of around 7%.
The growing demand for an increased range and assortment of goods and the growth of the e-commerce market is driving the growth of the global tube packaging market. Radical innovations and product development will boost the technological revolution in the global tube packaging market.
The top 3 drivers and trends driving the global tube packaging market are discussed below:
The rising preferences for smaller pack sizes among consumers are driving the growth of the tube packaging market. The implementation of “Rightsizing” by various vendors across the worlds as packaging strategy to provide diversification in their product portfolio will drive the demand for tube packaging in the global market. This packaging strategy is gaining immense popularity in the food and beverage market. Small pack sizes boost consumer mindfulness, snaking, and portion control. The growing demand for smaller pack sizes is providing brands the opportunity to offer customized products to cater to several needs of customers’ requirements. The leading brands are also offering rigid plastic or flexible packaging materials for the convenience of the consumer and offer better brand identification. Such developments will propel the growth of the global tube packaging market during the forecast period.
The companies are adopting new strategies to launch new product categories or expand businesses to new regions while retaining the brand identity. The leading players are using aesthetics appeal and packaging as the differentiators between the products or brands to attract a larger consumer base and market share. Such efforts to launch product differentiation will propel the growth of the global tube packaging market. The increasing focus on designing to create a multidimensional and unified brand experience will help vendors in the tube packaging market launch innovative product lines. The rapid advances in technology such as design software and the penetration of the internet are enabling companies to launch a wide array of aesthetic and packaging options for products that will help companies attract more consumers. Customization and innovative design options will transform the global tube packaging market during the forecast period.
The rapid changes in the perception of the consumers about products and packaging are attributing to the shift from rigid packaging to flexible packaging and promoting to the growth of the tube packaging market. The factors such as convenience and sustainability are contributing to the development of innovative and flexible options designed specifically to meet the consumer demands and drive the demand in the global tube packaging market. The shift towards flexible packaging helps increase product durability, offers compact, lightweight packaging solutions, provides multiple design options, and varied barriers. The benefits of using flexible packaging solutions will propel the growth of the global tube packaging market over the next few years.
The leading vendors in the tube packaging market are Essel Propack, Amcor, Sonoco, Huhtamaki OYJ, and Consantia Flexibles.
The complete overview of the latest market research report on tube packaging market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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