Insulated Concrete Form Market Overview
As per the global industry trends, the global tube packaging market size is expected to grow from USD 9.5 billion in 2021 to USD 13.0 billion by 2027, at a CAGR of 6.6% during the forecast period. The propelling market factor for the global tube packaging market is the growing demand for cosmetics & oral care applications.
The global Tube packaging market includes significant Tier I and II suppliers like Amcor (Switzerland), Albea Group (France), Essel Propack Limited (India), Hoffman Neopack AG (Switzerland), and Huhtamaki Oyj (Finland). These global market suppliers have their manufacturing facilities spread across various countries across the Asia Pacific, Europe, North America, and the Rest of the World. COVID-19 has impacted their businesses as well.
The global tube packaging market is expected to witness a slight decrease in its growth rate in 2020-2021, as the packaging industry witnesses a decline in its market production. However, there seems to be an increase in the demand for tube packaging for oral care, food & beverage, and pharmaceutical applications for product packaging during the market.
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Some of the key players that help in the expansion of the tube packaging market are mentioned as follows:
Runlab Labware Manufacturing Co Ltd
Goodway Technologies Corporation
Rakhoh Industries Pvt. Ltd.
Oy Nordic AC Ltd.
Jiaxing Jinyi Solar Energy Technology Co., Ltd.
Sebatibogogo Cylinders & Welding Supply, Inc.
Patterson Pump Company
Columbia Analytical Instruments Inc.
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Flexible packaging is the second largest packaging segment in the US, having a share of 19 % of the total packaging market valued at USD 170 billion. The flexible packaging industry of the market is highly influenced by the economic growth of various industries such as cosmetics, toiletries, and other ends like pharmaceuticals. In the APAC region, this industry is projected to witness the massive growth in the coming years due to the rising middle-class population. Countries of the region such as India, China, Saudi Arabia, Russia, and Brazil are the emerging markets for flexible packaging and are expected to witness fast growth.
The tube packaging market segment is mentioned as follows:
Food & Beverage
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The APAC region had accounted for the largest share of the Tube packaging market in the pandemic year 2020. The propelling regions in the APAC market in the region are growing because of the increase in demand for small and innovative packs for cosmetics and oral care applications in the region.
In February 2021, tube packaging market trends highlight that Hoffman Neopack AG introduced a lighter plastic tube solution that uses up to 30% fewer virgin materials. The tube is the newest addition to the company’s EcoDesign series of environmentally friendly tubes. It helps to align with the packaging industry’s vision to reduce carbon footprint and materials waste.
In January 2020, another company – Albea Group, started constructing a new facility in Huai’an, Jiangsu province, north of Shanghai, China. The global market expansion in the region will include the production of new injection, decoration, and, further, assembly equipment to satisfy the increasing demand from domestic and foreign beauty brands.
Table of Content:
1 Executive Summary
2.1 Definition 14
2.2 Scope Of The Study 14
2.3 Assumptions 14
2.4 Market Structure 15
3 Research Methodology
3.1 Research Process 16
3.2 Primary Research 17
3.3 Secondary Research 17
3.4 Market Size Estimation 17
3.5 Forecast Model 19
4 Market Dynamics
4.1 Drivers 20
4.1.1 Growth In Pharmaceutical Industry 20
4.1.2 Increase In Demand From Cosmetic Industry 22
4.1.3 Innovation In Packaging 22
4.2 Restraints 23
4.2.1 Fluctuation In Raw Material Prices 23
4.3 Opportunity 23
4.3.1 Scope In The Developing Nations 23
4.3.2 Impact Of Packaging 23
5 Market Factor Analysis
5.1 Porter’s Five Forces Analysis 24
5.1.1 Threat Of New Entrants 25
5.1.2 Bargaining Power Of Suppliers 25
5.1.3 Bargaining Power Of Buyers 25
5.1.4 Threat Of Substitutes 25
5.1.5 Rivalry 25
5.2 Value Chain Analysis 26
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