Plastic Tube Packaging Market Holds Multiple Growth Prospects
The slender plastic tube packaging that fits perfectly in the palm and the ease at which its content is released induce satisfaction in the end-user. And, high customer satisfaction bestow substantial revenue generation for a business. Packaging, since the industrial revolution has emerged as a lucrative line of profession. With rise in urban migration, the pattern of consumption has changed, and variation in packing has surfaced as an excellent method of marketing.
The type, material, and aesthetics of plastic tube packaging and its benefits and wide range of applications establish its market dynamics. Market Research Future (MRFR), a market research firm that conducted an extensive evaluation of the plastic tube packaging global market. As per MRFR study, the plastic tube packaging market is expected to thrive at 6.02% CAGR by 2023.
Plastic tubes are fabricated form different materials. Substances with certain set of properties that allow plastic tube as a popular method of packaging. HDPE, LLDPE, and LDPE are different grades of polyethylene, in single and/ or multi layers are used to produce plastic tubes packs for a myriad of applications. The high flexibility and soft feel offered dispensed by LDPE (Low Density Polyethylene), along with its light-weight, can be primarily used in the packaging of personal care products.
Its resistance to moisture absorption delineates rise in its utility in cosmetic packing. HDPE (High Density Polyethylene) has better barrier properties and endorse in pharmaceutical products. The high restoration value of HDPE is observed as a competitive advantage. EVOH (Ethyl Vinyl Alcohol Copolymer) is another material that is serves food and pharmaceutical packaging. Laminate is a sheet that comprises disparate layers emblemises the product, thereby drawing attention of customer.
Pharmaceutical, food and beverage, and especially cosmetics are high end-user of plastic packaging. High sales of cosmetics, expansion of patient population base, and introduction of strategic packaging in the F&B sectors illustrate the rise in need for plastic tube packaging. The evolution of packaging technology underpins the high production capacity of enterprises dealing in plastic tube packages. Plastic tubes are affordable method of casing without slashing on quality.
They allow shape and size versatility, thereby provide the advantage of preference to both the developer and customer. These are major determiners of the plastic tube packaging market. Enterprises can introduce eco-friendly packaging, as plastic types used to manufacture tube packaging are biodegradable and recyclable. This can leverage the growth of the plastic tube packaging market.
MRFR studied the regional progress of the plastic tube packaging market. The high demand for flexible packaging can boost the expansion of North America plastic tube packaging market. Increase in utility of plastic tube packaging for food and beverage products can improve the momentum of the regional market. Asia Pacific plastic tube packaging can register a substantial CAGR in the forecast period. Europe, reputed for its sublime cosmetic products can support the expansion of the plastic tube packaging market. The rise in outsourcing of packaging activity can bring in substantial business for the global market.
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