New York (US), July 17, 2023 (GLOBE NEWSWIRE) -- Squeeze Tubes Market Overview
The research documents by MRFR indicate that the “Squeeze Tubes Market Research Report Information by Type, Region, and Application - Forecast Till 2032”, the Squeeze Tubes market is predicted to grow substantially over the assessment timeframe from 2022 to 2032 at a healthy CAGR of around 7.20%. The reports even share predictions regarding the market's growing revenue share, which will likely reach USD 61.0 Billion by the end of 2032. As per the reports, the market was worth nearly USD 32.6 Billion in 2022.
The increased demand for these types of packaging from application industries like cosmetics & personal care, healthcare, and food is predicted to be the market's main driver. Rising consumer awareness of personal health and wellness is projected to be a major factor in the expansion of the personal care sector. Due to growing self-consciousness, there is a growth in the consumption of personal care products, which will lead to an increase in the demand for tube packaging.
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Competitive Analysis
The catalog of the top leaders across the global Market for Squeeze Tubes includes players such as:
- Amcor Limited
- Berry Global Inc.
- Essel Propack Limited
- Intrapac International Corporation
- Albea S.A.
- Montebello Packaging Inc.
- Huhtamaki OYJ
- Worldwide Packaging Inc.
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 61.0 Billion |
| Compound Annual Growth Rate (CAGR) | 7.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Rising consumer awareness of personal health and wellness, as well as rising demand for tube form of packaging from application industries like food, cosmetics & personal care, and healthcare |
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Market Drivers
The global Squeeze Tubes industry has advanced enormously in recent years. The primary aspects causing a surge in market performance are the escalating demand for tube-type packaging from application industries, rising consumer awareness of personal health & wellness, rising self-consciousness, shifting consumer preferences for natural ingredients, and consumer & increases in both parties' profitability.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Squeeze Tubes industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era. In addition, several governmental organizations and key market players are collaborating and, therefore, introducing solutions like innovations and research and development processes through excellent funding that will positively impact the global market for Squeeze Tubes over the review timeframe.
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Segment Analysis
Among all the types, the LDPE segment secured the leading position across the global market for squeeze tubes in 2022. These monomers are co-extruded in layers with some tubes. In spite of stringent government rules surrounding the use and recycling of plastic, the market is likely to be propelled by ongoing advancements in material research, particularly biodegradable plastics. Several layers of polymers and other materials are used to create laminated tubes.
Among all the application areas, the personal care segment secured the leading position across the global market for squeeze tubes in 2022. The main parameter enhancing the market segment's growth is the rising chemical-free, organic product demand and rising health & well-being consciousness.
Regional Analysis
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World.
The research documents by MRFR indicate that the North American Region secured a leading position across the global Squeeze Tubes industry in 2022, with the largest contribution of nearly 45.80%. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Squeeze Tubes Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the existence of well-established personal care and healthcare sectors in the area. Furthermore, factors such as the population expansion and rising disposable income levels are also projected to positively impact the development of the regional market over the assessment era.
The European Region anticipates ensuring the second spot across the global Squeeze Tubes industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Squeeze Tubes Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The region's main aspect supporting regional market expansion is the rising demand from numerous end-user industries across the region. Furthermore, the launch of innovative products by leading manufacturers across the region is also projected to positively impact the development of the regional market over the assessment era.
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The Asia-pacific Region is anticipated to secure the maximum growth across the global Squeeze Tubes industry over the coming years. The regional market is projected to showcase the maximum growth rate over the assessment era. India, China, and Indonesia are the leading development contributors in the region. Further, the China Squeeze Tubes Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the people's rising lifestyle and living standards across the region. Furthermore, the escalating trends in cosmetic and pharmaceutical products and awareness of health & hygiene are also projected to positively impact the development of the regional market over the assessment era. Apart from meeting local demand for cosmetics, countries across the region also export many cosmetics to the United States. Nearly 20% of American exports to other countries are made in Asian nations.
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