The squeeze tube packaging Market Is Estimated to Witness High Growth Owing to Rapid Increase in Beauty and Personal Care Industries and Wide Availability of Squeezable Packaging Options
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). Furthermore, the rising demand for convenient packaging across industries along with increasing penetration of e-commerce is further escalating market growth.
Market Dynamics:
The growth of the squeeze tube packaging market is determined by driving factors such as rapid increase in beauty and personal care industries and wide availability of squeezable packaging options. The beauty and personal care industry has witnessed robust growth over the past few years on the back of rising consciousness towards appearance and grooming among consumers. Moreover, squeeze tubes offer several benefits like ease of use, precise and contamination free dispensing which has boosted their adoption across various applications like hair gels, lotions, toothpastes etc.
Additionally, the widespread reach of e-commerce and rising online shopping has augmented demand for innovative, user-friendly and tamper proof packaging solutions. Squeeze tubes meet all these criteria and offer secure and hygienic packaging for cosmetic, food and healthcare products during transit. Their superior barrier properties and leak proof design makes them ideal for e-commerce and logistics. The growing distribution channels and evolving consumer demand for convenience is expected to
Growing Cosmetics Industry is Driving Demand for Squeeze Tube Packaging
The cosmetics industry has seen significant growth over the past decade, especially for skin care and hair care products. Squeeze tubes are a very popular packaging format for these types of products as they allow for controlled and hygienic dispensing of creams, lotions, gels and pastes. The convenience of squeeze tubes makes them preferable to jars and pots for on-the-go application. Leading cosmetics brands are continuously developing new formulations and product lines that need innovative, user-friendly packaging solutions to drive sales. Squeeze tubes have proven effective at protecting formulas while enhancing the consumer experience, driving their use across a wide range of cosmetic categories. As the global cosmetics market expands into new regions and demographic segments, demand for effective packaging like squeeze tubes is expected to grow substantially in the coming years.
Rising Popularity of Single-use Personal Care Products is Driving Growth
Connected to growing health and hygiene concerns, the market for single-use personal care products has boomed in recent times. Products like hand sanitizers, hand creams, and facial cleansing wipes are in high demand. Squeeze tubes are an ideal format for these single-use products as they allow dispensing of precise doses without risk of cross-contamination. The portable and re-sealable nature of squeeze tubes also gives products a longer shelf life after opening. Leading brands are leveraging squeeze tube packaging to capitalize on the popularity of single-use personal care items. Their effectiveness at protecting formulations and providing hygienic and measured dispensing is fueling the use of squeeze tubes across this high-growth market segment.
Rising Raw Material and Packaging Costs Restrain the Market Growth
The prices of plastic resins used widely in squeeze tube production have fluctuated significantly in recent times mainly due to supply chain issues and rising oil prices. Increased transportation and logistics costs are also pushing up the costs of sourcing and delivering packaging materials. At the same time, regulatory pressures to use more sustainable, recyclable materials increase production costs. While brands prefer high-performance packaging like squeeze tubes, rising input costs sometimes force them to consider more affordable alternatives. Strict sustainability norms also require R&D investments into innovative tube designs with reduced plastic content. These economic factors can potentially slow down the adoption of squeeze tubes in price-sensitive or commodity product categories.
Packaging Innovation is Key in Competitive Markets
Mature markets like North America and Western Europe show slower growth for squeeze tubes as these are well-established packaging solutions. However, in developing or price-sensitive markets, firms face intense competition. Here, packaging serves as a key brand differentiator that can help firms gain market share. While the basic squeeze tube design fulfills fundamental requirements, competitors constantly invest in value-added innovations like customized shapes, applicator tips, and interactive components that enhance the consumer experience. Those who fail to regularly refresh their packaging or are slow in adopting emerging trends may lose market share to more innovative brands. Protecting margins while also consistently re-inventing the packaging proposition remains a challenge.
E-Commerce Growth Presents Lucrative Opportunities
The explosive growth of e-commerce across all customer segments has opened huge opportunities for personally applicable products sold through online retail platforms and marketplaces. Squeeze tubes are well-suited for e-commerce as their compact, lightweight and leak-proof construction allows for convenient shipping and handling. Their user-friendly, no-mess application also gives consumers confidence in online purchases of personal care items. Leading brands are partnering with online retailers and directly promoting their products through engaging brand stores. Advanced manufacturing technologies now allow highly customized, small-batch squeeze tube production to serve diverse market segments. This accessibility of specialized SKUs coupled with opportunities in emerging e-commerce markets is creating exciting growth avenues for innovative squeeze tube producers.
Link - https://www.coherentmarketinsights.com/market-insight/squeeze-tube-packaging-market-2385
Key Developments:
- In February 2021, Hoffman Neopack AG introduced a lighter plastic tube solution that uses up to 30% fewer virgin materials. This tube is the newest addition to the company’s EcoDesign series of environmentally friendly tubes. It aligns with the packaging industry’s vision to reduce carbon footprint and materials waste. Hoffmann Neopac is a globally active Swiss family company with more than 100 years of tradition. As a leading provider of packaging, produce high-quality Polyfoil, polyethylene and COEX tubes for pharmaceutical, cosmetics and dental products, as well as decorative metal tins for tobacco, confectionery, and food and non-food products.
- In January 2020, Albea Group started the construction of a new facility in Huai’an, Jiangsu province, north of Shanghai, China. The expansion will include the production of new injection, decoration and assembly equipment to satisfy the increasing demand from both domestic and foreign beauty brands. Albéa Group is a leading global provider of cosmetic packaging solutions, recognized as the world's largest supplier in this sector. The company has deep roots in France and operates 35 facilities across Europe, Asia, and the Americas, employing around 12,500 people.
Key Player:
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
