Market Research Future (MRFR) has published a cooked research report on the “Global Squeeze Tube Market”
that contains information from 2018 to 2032. The Squeeze Tube market is estimated to register a CAGR of 7.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Squeeze Tube market— Amcor Limited, Essel Propack Limited, Albea S.A., Huhtamaki OYJ, Berry Global Inc., Intrapac International Corporation, Montebello Packaging Inc., and Worldwide Packaging Inc
Squeeze Tube Market Highlights
The global squeeze tube market is accounted to register a CAGR of 7.20% during the forecast period and is estimated to reach USD 61.0 Billion by 2032.
The increased demand for these types of packaging from application industries like cosmetics & personal care, healthcare, and food is predicted to be the market's main driver. Rising consumer awareness of personal health and wellness is projected to be a major factor in the expansion of the personal care sector. Due to growing self-consciousness, there is a growth in the consumption of personal care products, which will lead to an increase in the demand for tube packaging. The United States is one of the key markets in the global beauty and personal care industry because of consumer purchasing power. Market growth for organic personal care products is being attributed to changing consumer demand for natural ingredients. Since tube packing enables precise and efficient dispensing and organic products are often sold in small amounts and at a premium price, it will continue to be in demand.
Segment Analysis
The global squeeze tube market has been segmented based type and application.
On the basis of type, the market is segmented into LDPE, HDPE, MDPE, LLDPE, and EVOH. LDPE segment dominated the global market in 2022. Co-extruding these monomers in layers with certain tubes. Despite stringent government regulations governing the use and recycling of plastic, it is projected that the business will be propelled by continued developments in material research, particularly polymers that degrade naturally. Laminated tubes are made up of several layers of polymers and other materials.
Based on type, the global squeeze tube market has been segmented into personal care, pharmaceutical, food, lubricant, and others. Personal care segment dominated the global Squeeze Tube market in 2022. The category is expected to grow during the forecasted period as a result of increased consumer demand for chemical-free, organic products and rising health and wellbeing awareness.
Regional Analysis
The global Squeeze Tube market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Squeeze Tube market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Squeeze Tube market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Squeeze Tube market comprises of Middle East, Africa, and Latin America.
The largest market share for Squeeze Tube was maintained by the North American regional sector. The region's well-established personal care and healthcare industries account for the greater market share. The increase in disposable income and population growth are other factors that affect the growth of the region.
Moreover, the Europe market has been persistently growing over the forecast period. Market participants in Europe are constantly attempting to develop new goods to fulfil the growing demand from a variety of end-user industries. As an example, in October 2019 Stora Enso developed biodegradable, renewable paperboard tube packaging for cosmetic products as an alternative to traditional plastic packaging.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. The lifestyle and standard of living of the people in Asia-Pacific are gradually improving. In addition to the rising trends in cosmetic and pharmaceutical products, awareness of health and cleanliness, and this factor, the market in the region is being driven.
Furthermore, the rest of the world's Squeeze Tube market is divided into the Middle East, Africa, and Latin America. With a growing focus on personal grooming and beauty products, the demand for products such as creams, lotions, gels, and ointments packaged in squeeze tubes has increased. Additionally, the pharmaceutical industry has also witnessed a surge in demand for squeeze tubes due to the need for precise and controlled dispensing of medicines and topical treatments.
Key Findings of the Study
- The global Squeeze Tube market is expected to reach USD 61.0 Billion by 2032, at a CAGR of 7.20% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to rising trends in cosmetic and pharmaceutical products and awareness of health and cleanliness.
- Based on type, the LDPE segment dominated the global market in 2022. Co-extruding these monomers in layers with certain tubes.
- Amcor Limited, Essel Propack Limited, Albea S.A., Huhtamaki OYJ, Berry Global Inc., Intrapac International Corporation, Montebello Packaging Inc., and Worldwide Packaging Inc
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Base Year | 2019 |
Companies Covered | 15 |
Pages | 128 |
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