Tube Market Forecasted To Grow, Especially for Cosmetics & Oral Care

High growth is in the forecast for the tube packaging market, according to a report by Markets and Markets. Analysts project that the tube packaging market size will grow to 9.3 billion by 2021.

This represents an estimated CAGR of 6.9%, since the market was estimated to be worth $6.65 billion in 2016.

What's fueling growth? An increase in consumer preference for convenient, safe, and sustainable packaging.

The company's report has been segmented on the basis of type, material type, application, and region. On the basis of type, the squeeze tubes segment is projected to grow at the highest rate in terms of value, during the forecast period.

This growth is attributed to their excellent barrier properties, such as damage proof, non-toxic, and hygienic. They are preferred because they are convenient and easy-to-use.

Cosmetics & Oral Care Tubes Are Projected to Grow at the Highest CAGR

In terms of value, the cosmetics & oral care industry is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to factors such as improved standards of living, coupled with rising disposable income of the working middle-class population in emerging economies.

In terms of value, the laminated tubes segment, by material type, is projected to grow at the highest rate during the forecast period due to its multi-layered barrier structure, which provides excellent barrier properties and minimizes the transfer of oxygen and light.

Moreover, as compared to aluminum tubes, the print on laminated tubes looks clearer and brighter, which increases the aesthetic value of the tube.