Squeeze Tube Packaging Market
The squeeze tube packaging market is estimated to be valued at USD 8.40 Bn in 2024, exhibiting a CAGR of 6% over the forecast period (2024-2031). Squeeze tube packaging market is witnessing significant growth in the recent years. Squeeze tubes are flexible packaging solution used for viscous products like pharmaceutical creams, cosmetic products, industrial and automotive pastes among others. They provide excellent barrier protection and allow precise controlled dispensing of products. The unique design feature of the tube enables manufacturers to pack small volumes of products economically. The growing personal care and cosmetics industry coupled with expanding application in healthcare and food sectors has been driving the demand for squeeze tubes. Additionally, factors such as convenience of use, ease of transportation and storage have increased popularity of squeeze tubes among end-users and manufacturers. However, volatility in raw material prices remains a key challenge for market players.
Market Dynamics
The global squeeze tube packaging market is primarily driven by the expanding personal care and cosmetics industry worldwide. Rising incomes and growing consciousness about grooming among consumers has significantly boosted demand for various skin care, hair care and other cosmetic products which are mostly packed in squeeze tubes. This is positively impacting the market growth. Another key growth driver is increasing application of squeeze tubes in pharmaceuticals for packing creams, ointments and other medical preparations owing to barrier properties and precise dosing capability. Positive outlook of healthcare sector especially in developing countries is fueling the market growth. Moreover, growth in food industry where squeeze tubes are gaining acceptance for packaging condiments, sauces and icings is creating new opportunities. However, volatility in raw material prices such as plastic resins, aluminum and laminates poses challenges for market players in terms of operating margins. Stringent regulations pertaining to use of plastic packaging is also restricting the market growth to some extent.
Key Features of the Study
- This report provides in-depth analysis of the global squeeze tube packaging market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global squeeze tube packaging market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Amcor Limited, Essel Propack Limited, Albea S.A., Huhtamaki OYJ, Berry Global Inc., Intrapac International Corporation, Montebello Packaging Inc., Worldwide Packaging Inc., Romaco Group, Hoffman Neopac AG, VisiPak, Sonoco Products Company, and Clariant
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global squeeze tube packaging market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global squeeze tube packaging market
Market Segmentation
Table of Contents
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