Dublin, March 30, 2021 (GLOBE NEWSWIRE) -- The "Tube & Stick Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Tube & Stick Packaging market was valued at USD 7.87 billion in 2020 and is expected to reach USD 10.91 billion by 2026, at a CAGR of 5.6% over the forecast period 2021 - 2026., owing to the increase in demand for convenience packaging.
The use of multilayered laminated tubes and stick packaging has increased for the use in packaging of skincare, pharmaceutical products, food packaging, and others. Companies are investing in R&D for advanced packaging solutions, which are more naturally made.
The application in the pharmaceutical industry is driving the growth of the market, especially medicines that are used in Dermatology, where tube packing is extensively used. Global pharmaceutical sales globally in 2018 were 110 billion USD, according to AstraZeneca, pharmaceutical and biopharmaceutical company. Further the future growth of the pharmaceutical sector will drive the demand especially for tubes and stick packaging.
Furthermore, the increases in strict government regulations for the secure usage of the plastic packaging for various applications might challenge the market growth of tube & stick packaging. However, the increasing investments made by the packaging vendors might result in the improvement of the manufacturing process and coming out with better innovations for the tube & stick packaging materials.
Key Market Trends
Plastic Packaging is Expected to Continue Significant Demand
Plastic is the material that is used the most in the production of tube & stick packaging due to its ability to be lightweight, flexible, durable, and other plastic properties. The manufacturing cost is low; besides, it is odor-free, can be transparent, and can have a pleasant demeanor.
As convenience and regimen are gaining influence beyond regions, the demand for plastic tubes is thrusting, particularly in the cosmetic industry.
However, over the last decade, the environmental consequences of plastic have transpired in a retardation of the segment. Nevertheless, sustainable packaging has ensured notable amounts of plastic recycling and innovations in material technology that have enabled the development of environment-friendly plastic packaging solutions.
Furthermore, increased focus and developments in recycled plastic are overruling the drawbacks of plastics.
Asia-Pacific Expected to Hold a Significant Market Share
Strong population and improvements in the lifestyle and living standards evident across the Asia-Pacific region, which are driving the demand for consumer products such as food and cosmetic. Further, increasing awareness for health and hygiene, are driving the market for pharmaceuitical products in the region. Therefore substantiating the high demand for packaging products.
The region is also a strong export nation in terms of cosmetic products. The increase in the export of cosmetic products to the United States is likely to spur demand in the region. According to the International Trade Administration, over 20% of the US Global exports are via Asian countries.
In China, with a population of 1.37 billion, the oral disease has a significant burden on the government healthcare system and is an even more significant economic burden on individuals. Therefore the demand for healthcare and hygiene in the country is also high. Furthermore, periodontal diseases are common in regions such as India. These factors have resulted in an increased demand for toothpaste and other oral care products that use a tube and stick packaging.
The tube and stick packaging market is highly fragmented due to the presence of a multiple players across regions. Sustainable competitive advantage can be gained through innovation in the material used to make products as in design, technology, and application. Some key market players in the market are Amcor, Berry, Sonoco, Printpack, among others. Some key recent developments in the market include:
June 2019 - Amcor acquired Bemis. The acquisition of Bemis by Amcor brings additional capabilities that will strengthen Amcor's industry-leading value proposition and generate significant value for shareholders. Also, this acquisition will bring other additional range, capabilities that will enhance Amcor's industry-leading in terms of a value proposition.
March 2018 - Packaging companies, Amcor and SIG, partnered for aluminum sourcing. The collaboration aimed at ensuring the supply chain of aluminum material meets the statutes of the Aluminum Stewardship Initiative (ASI).
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Topics Covered:
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Demand for Convenience Packaging
4.4 Market Challenges
4.4.1 Increase in Government Regulations in the Packaging Industry
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Packaging Type
5.1.4 Other Packaging Types
5.2 By Material Type
5.2.4 Other Materials
5.3 By Application
5.3.1 Personal Care
5.3.5 Other Applications
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amcor PLC
6.1.2 Armbrust Paper Tubes Inc.
6.1.3 Berry Global Inc.
6.1.4 Albea S.A.
6.1.5 CCL Industries Inc.
6.1.6 Essel Propack Limited
6.1.7 Constantia Flexibles Group GmbH
6.1.8 Clariant International Ltd
6.1.9 IntraPac International Corporation
6.1.10 The Plastek Group
6.1.11 Printpack Incorporated
6.1.12 World Wide Packaging, LLC
6.1.13 Plastube Incorporated
6.1.14 VisiPak Company
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9m2p65
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