Laminated Tubes Market Is Expected to Reach US$ 1.8 Bn by 2031, Growing at a CAGR of 6.3% For 2031
To prosper in the global market place, choosing a global market research report, which includes market analysis based on regional and global level, is imperative. An influential Global Laminated Tubes Market report puts a light on various factors that have direct or indirect effect on the growth of business which includes historic data, present laminated tubes market trends, environment, technological innovation, upcoming technologies and the technical progress in the Laminated Tubes industry.
Additionally, a detailed analysis of factors influencing the investment is provided which forecasts forthcoming opportunities for the businesses and develops the strategies to enhance return on investment (ROI).
The laminated tubes market revenue totaled US$ 940 Mn in 2020, according to Future Market Insights (FMI). The overall laminated tubes market is expected to reach US$ 1.8 Bn by 2031, growing at a CAGR of 6.3% for 2020- 31. FMI has projected competition in the market to continue soaring through the assessment period. The top 5 market players are expected to hold 20%-25% of the global laminated tubes market in 2021.
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Laminated Tubes Market Landscape
Berry Global Group Inc., CCL Industries Inc., Huhtamäki Oyj, EPL Limited, Albea S.A., Hoffmann Neopac AG, Tubopress Italia S.R.L and among others are the prominent players in the global laminated tubes market. The Tier 1 players in the market hold 20-30% in the global laminated tubes market.
“With increasing consumer focus on oral hygiene and a shift in preference towards visually appealing, hygienic, and premium quality cosmetic products are creating opportunities for laminated tubes market growth. These trends also are encouraging manufacturers to focus on innovations to offer more efficient packaging solutions,” says FMI analyst.
Consumers are switching from rigid packaging such as plastic and aluminum packaging tubes to flexible laminated tube packaging. They mostly prefer hygienic, durable, and visually appealing product packaging that also offer high protection of the contents inside the tube.
Overview-Laminated tubes are lightweight, hygienic, and tamper-resistant. The premium quality and smooth finish of these tubes makes them more attractive and noticeable. They also protect the content inside the tube from light, air, oxygen, moisture, UV rays, and a variety of bacterial infections.
They also act as a reliable seal to keep the contents free from spoilage, and dust particles, thus extending a product’s shelf life. The multilevel barrier of laminated tubes provides a protective layer and ensures greater longevity of the material.
Therefore, the rising awareness among consumers about health, hygiene, and willingness to purchase cost-effective, and attractive products will create opportunities for the laminated tubes market expansion.
Key Takeaways from Laminated Tubes Market
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Demand in Beauty and Personal Care Industry to Increase
Consumers have become increasingly concerned about the quality and brand value of the cosmetics and personal care products they purchase. Willingness to spend on quality products with premium packaging that will prevent contamination of product packed inside and improve their shelf-life will increase laminated tubes application in the cosmetics sector.
The trend of glossy tubes with sophisticated metallic effects and intricate designs such as realistic photo prints, matte or glossy finishes will help laminated tubes to stand out in the competition.
Rising Intolerance towards the Use of Plastic Likely to Hamper the Market Growth
Concerns related to the environment due to the usage of plastic is negatively impacting the laminated tubes market. Various countries have imposed strict bans and stringent regulations to minimize plastic consumption.
In March 2019, the European Parliament passed a law to ban single-use plastic. The law stressed the significant environmental, health, and economic impact of certain plastic products.
Plastic-waste dumping in the sea and landfills is the primary global environmental concern today. Many institutions, NGOs, and government authorities are encouraging plastic manufacturing companies to develop environment-friendly, bio-degradable, and recyclable packaging product solutions.
Laminated tubes are made by using multiple layers to protect the product against environmental conditions. They are not recyclable due to their multi-layer nature. Aluminum laminated tubes are recyclable, whereas plastic laminated tubes are not fully recyclable. Thus, the consumer’s awareness and consciousness towards purchasing eco-friendly products and the government ban on plastic consumptionExplore FMI’s Extensive ongoing Coverage on Packaging.
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Laminated Tubes Market by Category
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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