Squeeze Tube Packaging Market Growth Rate, Trends, Analysis, Future scope, Size, Share, Forecast to 2023
Global Squeeze Tube Packaging Market Development, Analysis, Strategies by Materials (laminate, plastic, aluminum, and others), by Product (squeeze tubes, twist tubes, and others), Application (personal care, pharmaceuticals, food, consumer goods and others) and Region - forecast 2017-2023
The thriving personal care industry coupled with the increasing demand for cosmetics is likely to drive the proliferation of the Squeeze Tube Packaging market over the assessment period.
The global Squeeze Tube Packaging market is set to expand at a CAGR of 5.79% during the forecast period 2017 to 2023. The value of the global market is estimated to reach USD 8,297.7 Mn by the end of 2023.
Key players operating in the global Squeeze Tube Packaging market are
- Amcor Ltd. (Australia)
- Albea Group (Luxembourg)
- CCL Industries (Canada)
- Sonoco Products Company (U.S.)
- Sinclair & Rush, Inc. (U.S.)
- Essel Propack Ltd (India)
- Huhtamaki (Finland)
- Montebello Packaging (Canada)
- World Wide Packaging LLC (U.S.)
- Unette Corporation (U.S.).
In February 2018, Silgan Dispensing Systems, a global supplier of highly engineered pumps and sprayers for consumer goods, launched Amplify™, the company’s new airless pump on the tube.
By material, the global Squeeze Tube Packaging Market has been segmented into laminate, plastic, aluminum, and others.
By product, the Squeeze Tube Packaging market is segmented into Squeeze tubes, Twist tubes, and others.
By application, the global Squeeze Tube Packaging market has been segmented into personal care, pharmaceuticals, food, consumer goods, and others.
Growth in the Pharmaceutical Industry
Increasing demand from the pharmaceutical industry have been increasing overall growth in the Squeeze Tube Packaging market. The pharmaceutical packaging plays a major role in reducing disease level by protecting the drugs from direct light, moisture, and damage while handling or storing.
Asia Pacific is the fastest growing market for Squeeze Tube Packaging globally. The growth can be ascribed to the changing consumer behavior pattern that demands convenient packaging. Innovation is the key area of focus for the key manufacturers in the region and endeavors are directed towards innovating product offerings. This, in turn, is expected to augment the Squeeze Tube Packaging market in the region. Other factors that are complementing the proliferation of the regional market are changing lifestyle, increasing purchasing power, expansion of the personal care industry, etc.
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