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.
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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).
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.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Global Tube & Stick Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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How we have factored the effect of Covid-19 in our report:
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