The tube packaging industry is experiencing robust growth. Increased demand for flexible packaging, improved barrier properties and innovative, easy-to-use packaging spurs this growth. Rising population supports growth of the tube packaging industry while high disposable income enables end users to spend more on the convenience of tube packaging.
Today’s consumers increasingly accept tube packaging in their day-to-day lives. Tubes heighten consumer experience through unique dispensing features, unit-of-use formats and innovative, friendly packaging that eases storage and enhances product delivery.
Tubes are less expensive than jars and bottles. They offer flexibility in color and shape. Trends will likely include renovations in flip-top caps, applicators, pumps, roller bars and brushes to improve product delivery and enhance functionality. The new lines of tubes will feature airless or dip tube style pumps in various diameters, overcaps and pump collar styles for greater dispensing efficiency and consumer appeal. The advanced ergonomic design of tube pumps does a superior job protecting and dispensing even the most fragile active ingredients.
The Global Tube Packaging Market
The global tube packaging market has experienced rapid growth since 2013. Market research firm MarketsandMarkets predicts the global packaging industry will grow at a compound annual growth rate, or CAGR, of 6.65 percent to reach $8,638.9 million by 2020. Taking a 37 percent share, Europe dominated the market in 2014.
Mounting competition, increasing consumer spending, aggressive pricing, sustainable packaging and exceptional barrier protection drive the tube packaging market.
In terms of volume, MarketsandMarkets says that the Asia-Pacific region will become the fastest-growing market, with growth at the highest CAGR occurring from 2015 to 2020. People in the increasing middle class in the Asia-Pacific region have high disposable income. Sustainable packaging and flexible packaging drive growth in this market, as does convenient packaging, which is required in the densely populated areas common in that region.
Due to high growth in the packaging industry in general and because of the innovative solutions it provides, the tube packaging industry has a positive outlook. A surge of consumer interest in sustainable packaging and rising per-capita incomes accelerate demand for specialty tube packaging, including laminated tubes and squeeze tubes. The global tube packaging market will increase at a CAGR of 6.65 percent to reach $8,638.9 million by 2020.
Consumers in Brazil, China, India and South Africa are gradually accepting innovative tubes over traditional packaging. Developing countries, such as China, India, Indonesia, Thailand and others in the Asia-Pacific region, are now seeing a trend of rural populations moving to urban areas, which increases tube packaging demand.
The tube packaging market will continue to mature in North America and Europe, driven by high disposable income. In terms of volume, the European region was the largest tube packaging market, with 12 billion tubes in 2014. Taking a 27 percent share, Asia-Pacific was the second largest market. The MarketsandMarkets report predicts the highest demand for tube packaging to occur in China and Japan, fueled by sustainable, convenient packaging that provides exceptional barrier properties. The Asia-Pacific region will likely be the fastest growing tube packaging market from 2015 to 2020.
Tube Packaging Equipment Trends
Strong growth in the tube packaging industry translates into an uptick in tube packaging equipment sales. The rising use of recyclable plastic materials for packaging increases sales of tube packaging that, in turn, boosts the plastic tube packaging equipment market. Low labor costs associated with plastic packaging increase demand to further fuel tube packaging equipment sales.
Innovations in tube packaging and tube packaging equipment are strong leaders in the sweeping changes occurring in the packaging industry. Rising incomes, increasing consumer awareness in sustainability and affinity for convenience will drive emerging trends in the next few years.