Squeezable Plastic Tubes Market
Squeezable Plastic Tubes Market Analysis Report By Material (Polyethylene, Polypropylene, Other Materials (EVOH, Polyamide etc.)), By Closure (Stand Up Cap, Nozzle Cap, Fez Cap, Flip Top Cap), By End Use Applications, By Region - Global Market Insights 2019 to 2027
Squeezable Plastic Tubes to Witness Maximum Penetration in the Beauty and Personal Care Industry
The latest research by Fact.MR predicts an expansion rate of around 6% over the forecast period for global squeezable plastic tubes market. The Asia Pacific and Latin American regions are expected to offer the most profitable opportunities for regional development in squeezable plastic tubes market, mainly through oral care, while skincare has tremendous potential in Europe.
The North America region is characterized by the concentration of squeezable plastic tubes demand in the cosmetics application. The beauty and personal care packaging segment represents the total estimated demand of over 19 Mn Units in global squeezable plastic tubes market, with the squeezable plastic tubes market pegged at nearly US$ 700 Mn in 2018.
Also, consumer preference towards flexible packaging solutions for cosmetics such as hair care and skin care products is driving the market share for squeezable plastic tubes.
Consumption of squeezable plastic tubes for cosmetics and beauty care application is prominently impacted by the strong consumption of cosmetic products with favorable growth prospects. Key factors influencing the demand of cosmetics and beauty care products is the young population group and diversity in the cultural landscape.
Established ground presence of modern retail sector further benefits the demand of consumer goods which has led to a boost in the global squeezable plastic tubes market.
Plastic Barrier Laminates with EVOH and Polyamide Are Enhancing Functionality of Squeezable Plastic Tubes
Plastic barrier laminates with transparent functionality are emerging as an effective alternative to the squeezable plastic tubes with aluminum barrier laminates.
Aluminum barrier with high barrier properties has a drawback of not being transparent. Transparency in the visual qualities of the squeezable plastic tubes allows consumers to view the product and hence helps them develop a perceptual understanding of the product.
See-through packaging solutions such as transparent squeezable plastic tubes have a higher consumer value on retail shelves and helps the commodity to stand apart from other products with traditional packaging formats. Visibility of the final product plays a vital role in the purchase decision of consumer products such as face wash, hair care, etc.
The Market Share for Nozzle Caps Will Significantly Escalate Owing to its Myriad Applications in Pharmaceutical Products
Squeezable plastic tubes have the flexibility to incorporate multiple options for caps and closures. Nozzle caps fitted onto squeezable plastic tubes have an extensive scope of application for pharmaceutical products such as ointments.
Nozzle caps allow easy dispensing of ointment products as compared to other closure systems in squeezable plastic tubes. Nozzle caps allow controlled dispensing of the pharmaceutical product content packed in squeezable plastic tubes. This allows the consumer to administer the required content for use while conveniently storing the product for regular use.
Competition from Substitute Packaging Formats to Intensify Over the Forecast Period
Cosmetics, pharmaceuticals, and personal care products can be packed in various packaging formats such as pouches, airless pumps, stick packs, and sachets. Consumers living in below-average income societies cannot afford large size packs. They buy products daily but in less quantity. This buying pattern has led the major global FMCG players like P&G and CavinKare to sell their products in sachets.
The growing trend of unit dose applications leads to the increasing use of stick packs and sachets which are hampering the growth of squeezable plastic tubes market. Continuous implementation of innovative models is a significant driver for the development of the market for squeezable plastic tubes.
Consumers around the globe are looking for brands to entertain and engage them. Moreover, the increased consumption of medical products, art products and other end-use products is fueling the development of the market for squeezable plastic tubes.
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Manufacturers from South Asia and East Asia to Capture a Substantial Amount of the Market Share in Global Squeezable Plastic Tubes Market
The market for squeezable plastic tubes is extremely fragmented owing to the existence of a large number of players. In addition, sustainable competitive advantages can be achieved through innovation (design, technology and implementation) and alliances.
Moreover, there is a relatively high probability that fresh players will enter the squeezable plastic tubes market studied and further intensify the competition.
A strong competitive strategy, defined by acquisitions, mergers and alliances, with a strong emphasis on R&D, has therefore been recognized as the winning imperative by the market holders.
Several companies engaged in squeezable plastic tubes segment are focusing on broadening their product portfolios and expanding their reach into untapped markets by collaborating with businesses. Manufacturers are also focused on well-timed acquisitions and mergers to increase the market share in global squeezable plastic tubes market.
- Recently, In July 2019, Berry Global Group, Inc. announced the completion of its acquisition of RPC Group Plc for a purchase price of approximately US$ 6.5 billion
- In April 2019, Blackstone committed up to $460 million to Acquire a Majority Stake in Essel Propack, which will enhance the brand value of the company
Continuous introduction of innovative designs is a major driver for the growth of the market for squeezable plastic tubes. Consumers around the globe are looking for brands to entertain and engage them.
Moreover, the increased consumption of medical products, art products and other end-use products is fueling the development for global squeezable plastic tubes market.
Global Squeezable Plastic Tubes Market: In-Depth Assessment on Key Segments
The global squeezable plastic tubes market is segmented on the basis of capacity, material, closure, end-use application and region.
|End Use Applications||
Country-specific assessment on demand for squeezable plastic tubes compounds has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous squeezable plastic tubes compound manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
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