According to Future Market Insights (FMI), the plastic tubes market will gain traction due to the expansion of cosmetic & pharmaceutical industry. Sales of plastic tubes are expected to increase at a CAGR of 5.0% between 2021 and 2031. Plastic tubes are expected to register a sharp rise in demand due to the rapid expansion of cosmetics industry across the globe. Future Market Insights forecasts that the global plastic tubes market is driven by increasing focus on enhanced product design and customization in packaging structure.
Plastic tubes are predominantly used in cosmetics, pharmaceuticals, and food industries for packaging and storing viscous or paste-like substances. Over the years, plastic tubes have gained immense popularity among the end-users owing to their exceptional dispensing characteristics and handy packaging structure.
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Furthermore, the incorporation of improved barrier properties in plastic tubes has widened its applicability significantly.
Plastic tubes provide precise packaging to the end-users and hence are attracting millennials owing to their aesthetic packaging and smooth texture. Incorporation of advanced printing technologies such as flexographic and offset printing in plastic tubes is also elevating the brand value, thereby propelling sales.
Printing on flexible plastic tubes is an effective technique, helping brand owners to differentiate their products from competitive products already available in the market. Leading and small-scale manufacturers operating in the global plastic tubes market are using these printing technologies to manufacture more appealing plastic tubes.
Hence, rising preference towards these attractive printed plastic tubes is likely to drive the sales of plastic tubes during the forecast period. As per the study, the global plastic tubes market is expected to surpass US$ 959 Mn by the end of 2031.
Key Takeaways
Based on material, the polyethylene (PE) segment is expected to register a CAGR of ~5% during 2021-2031 owing to its lower cost and providing additional protection to the inside material.
By capacity, the 101 to 150 ml plastic tubes segment is expected to witness a gain of 170bps of current market share in the next decade.
The stand-up cap are the most preferred closure type of plastic tubes market, creating an incremental opportunity of US$ 306 Mn during the forecast period.
In terms of application, the cosmetic segment is expected to hold almost ~ 52.2% of market share by 2021.
Regionally, Eastern and Western Europe, collectively, are expected to contribute over ~37.6% in 2021.
“With incorporation of innovative printing and launch of enhanced product design due to the availability of stand-up cap and nozzle cap, the sales of plastic tubes are increasing. However, manufacturers operating in the global plastic tubes market are currently facing challenges associated with plastic intolerance among the end users and recycling of multi-layer plastic tubes which might limit sales to an extent. Hence, key players are adopting sustainable options to increase their revenues and mitigate environmental concerns associate with use of plastic,” says FMI analyst.
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User-Friendly Design with Transparent Packaging of Plastic Tubes Pushing Sales
Tubes made up of plastics offer better flexibility, shelf-life, softness and smooth exterior compared to packaging tubes made up of aluminum.
Hence, end-users are preferring plastic tubes over metal packaging tubes owing to its ability to get into original shape after squeezing and bounce back properties. Also, demand for see-through packaging is on the significant rise in the pharmaceuticals and cosmetics industries.
Hence, plastic tubes manufacturers are offering both transparent and non-transparent options with superior gloss and packaging finishing. Also, these transparent plastic tubes require lesser printing, labelling, and other decoration costs compared to aluminum tubes.
Hence, growing demand for such see-through packaging all across the globe is anticipated to augment the sales of plastic tubes during the foreseeable future.
Plastic Tubes Market Landscape
Albea S.A., Berry Global, Inc., CCL Industries Inc., Linhardt GmbH & Co KG, Huhtamaki Oyj, EPL Limited, Hoffmann Neopac AG, CTL-TH Packaging SL among others are the prominent players in the global plastic tubes market. The Tier 1 players in the market hold 10-15% in the global plastic tubes market.
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Plastic Tubes Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for plastic tubes, analysing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals market growth projections on the plastic tubes based on material (polyethylene (PE), polypropylene (PP), polyamide (PA), ethyl vinyl alcohol polymer (EVOH), polyethylene terephthalate (PET), and others materials), capacity (less than 50 ml, 51 to 100 ml, 101 to 150 ml, and above 151 ml), closure (stand up cap, nozzle cap, fez cap, flip top cap, and other caps), and application (dental, cosmetic, pharmaceutical, food, commercial & processing applications, and others) across seven regions.