Plastic Tube Packaging Market By Type, By Application (Personal Care, Pharmaceuticals, Food, Others) and by Region - Forecast To 2023
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Plastic Tube Packaging Market Statistics, Segments, Trends, Size, Share, Analysis: By Type (Squeeze, Extruded, Twist and Others), By Application (Personal Care, Pharmaceuticals, Food, Others) and by Region - Forecast To 2023
Plastic Tube Packaging Market Overview
The global plastic tube packaging market is dynamic and is expected to witness high growth over the forecast period. The growth of the market is influenced by the long-term air quality and climate goals. Some of the key driving factors of the tube packaging market are significant growth in packaging industries coupled with innovative packaging and excellent barrier properties. The increasing adoption of lightweight rigid plastics is one of the key drivers propelling the growth of this market in the coming years. Lightweight packaging is becoming increasingly popular among the consumers as it helps in the significant reduction of transportation and carriage costs, leading to increased profits.
In the packaging industry, the market is growing as packaging items and services are required in various industrial sectors. The new research report about the global plastic tube packaging market published by Market Research Future (MRFR) tallies gains for this market at 6.02% CAGR between 2017 and 2023.
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Plastic Tube Packaging Market Segmentation
The global plastic tube packaging market segmentation covers applications and type. MRFR is exploring the features of these segments to understand market trends.
According to the application-based segmentation, this market covers consumer goods, food, personal care, pharmaceuticals, and others. Personal care products include cosmetic products, body lotions, etc. During the forecast period, the personal care segment is likely to hold the largest market share, followed by pharmaceuticals.
By type, the market has been segmented as extruded, rigid tubes, squeeze, twist, and others.
Market Research Analysis
The development of new and diversified technologies is creating opportunities within the packaging industry. Increasing demand for airless tubes across the globe and the availability of high-quality printing at a low-cost are driving the global plastic tube packaging market growth. Recent market trends show a very high growth rate for the flexible packaging industry, driving the global plastic tube packaging market. Very strict and stringent regulatory rules along with high competition from substitute products are restraining the market. The rapid growth rate of the cosmetics and toiletries market in the developing countries is an attractive investment opportunity in the global tube packaging market. Plastic tube demand in beauty is largely defined by Facial moisturizers and cleansers, toothpaste consumption.
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The regional segmentation of the global plastic tube packaging market covers North America, Asia Pacific, Europe, and Rest of the World (RoW).
North America is an important regional market due to heavy industrialization, established industries in various sectors, technological advancement, government norms regarding hygiene, and the presence of key market players. USA and Canada are the topmost country-specific markets in this region.
Europe is another important regional market due to reasons that are more or less the same as those in North America. The grand country-specific markets in this region are Germany, France, Italy, and the UK. Other countries in Europe also aid market growth.
In the Asia Pacific region, the market is rising due to changing lifestyle, the inclination of consumers towards improvement in the food quality (and quality of other products), high density of population, demand for packaged items, an increasing number of modern retail outlets, and rising disposable income. Crucial country-specific markets in the Asia Pacific region are China, India, and Japan. Other countries of the Asia Pacific region also enhance market revenue.
The RoW segment features the countries of Latin America and the Middle East & Africa (MEA). In Latin America, the market is stable as technological advancement in this region is yet to reach the level of North America. In the MEA region, the market is small due to the limited availability of technology and lack of skilled professionals.
Related Report : https://www.marketwatch.com/press-release/tube-packaging-market-2019-size-application-global-share-industry-analysis-by-top-players-companies-revenue-cagr-business-opportunities-strategies-growth-and-forecast-to-2023-2019-11-06