Laminated Tubes Market Estimated to Exhibit 13.3% CAGR through 2017-2027
According to FMI, the global laminated tubes market analysis is valued at US$821.9 Mn in 2017 and is projected to rise at an impressive CAGR of 13.3% from 2017 to 2027. The market is estimated to be worth US$2852.4 Mn by the end of the forecast period.
The study presented here is based on a report by Future Market Insights (FMI) titled, “Laminated Tubes Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017–2027.”
The various regional markets for laminated tubes are North America, Latin America, Japan, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), and the Middle East and Africa (MEA). Of these, the APEJ is predicted to rise at the dominant CAGR of 17.3% during 2017–2027 and is expected to emerge as the leading market, vis-à-vis global share, by 2027 end. The dominance of this regional market can be attributed to a substantial uptake of laminated tubes packaging in the cosmetics industry. Based on end-use, the major areas are cosmetics, oral care, food, pharmaceuticals, home and other personal care, and commercial. Of all the end-use segments, the oral care is projected to dominate, accounting for about 48.0% value share by the end of 2027.
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Growing demand for Aesthetic, Portable, and Cost-efficient Packaging Options to Bolster Uptake
The market is primarily driven by the rising demand for aesthetic packaging options that are easy-to-use and portable, provide product preservation, and meet varied requirements in diverse end-use areas, including pharmaceuticals, industrial application, food, and personal care. The burgeoning demand for aesthetic packaging of cosmetic products which can also provide superior protection barriers to contents by preserving fragrance, flavor, and moisture is boosting the market. The wide demand for attractive as well as highly functional packaging options for packing a variety of hair care and skin care products is stoking the demand for laminated tubes. The rapid strides being made by the cosmetic and personal care industry in developing and developed countries is accentuating the growth of the market.
The soaring popularity of flexible packaging applications that can be tailored to any shape and size, while providing substantial branding and product differentiation options is catalyzing the growth of the worldwide market. The conscious, marked shift from aluminum-based packaging to laminated tube packaging among pharmaceutical players is attributed to several noteworthy anti-contamination properties of these packaging. The rising uptake of laminated tubes for packing OTC pharmaceutical products is boosting the market.
Laminated Tubes Packaging to Expand Product Differentiation and Branding Options
The notable benefit of prolonging the shelf-life of cosmetic and personal care products possible with laminated tube packaging is a prominent factor expected to bolster their demand.
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The popularity of high-catching visuals in product packaging in the FMCG sector has bolstered the demand for laminated tubes, as these enable the use of high graphic flexo printing technology. However, the rising availability of substitute packaging options, including stick packs and airless pumps, is likely to hamper the demand for laminated tubes. Furthermore, the rising concerns of the adverse environmental effects of plastics and various governmental regulation to ban plastics in packaging are key factors likely to impede the growth of the market to an extent. Nevertheless, the attractive of laminated tubes packaging is fueled by their growing popularity among end-use industries owing to a large number of functional properties. In addition, laminated tubes are considered cost effective for a growing number of brand owners, who want to differentiate their products and meet their specific product needs.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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