Global sales of the squeezable plastic tubes in 2018 surpassed US$ 700 Mn and are anticipated to expand at a moderate pace over the forecast period, according to a recently published Fact.MR study. Europe will maintain its supremacy in the market for the squeezable plastic tubes, owing to the widespread consumption in various end-use applications of squeezable plastic tubes. Emerging markets like India, China, North Middle East & Africa, etc. offer tremendous potential for development in personal care and beauty products. After Asia Pacific, MEA is anticipated to show the second-fastest growth rate in personal care market consumption. Africa’s young and fashion-conscious ‘middle class’ population is fueling the demand of squeezable plastic tubes across the region. Also, the significant growth in the end-use sector across the region has skyrocketed the demand for squeezable plastic tubes across the globe.
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Global Gains in Skin Care as Oral Care Demand Slows
The study opines that global hair care and skincare industries are growing at much higher rates. Anti-aging creams, shampoos and hair conditioners are some of the products driving the squeezable plastic tubes market. Squeezable plastic tubes sales will also likely to be boosted by consumer demand for packaging convenience, and the ease of application. In the case of toothpaste, Indian consumers are shifting from traditional herbal products to toothpaste, underpinning the volume rise in squeezable plastic tubes.
The way for brand owners to differentiate their offerings is through packaging, particularly in specialist skincare products such as anti-aging. Premium and mid premium brands offer more sophisticated lines to increase brand perception, as well unit prices, such as Neutrogena with its Rapid Wrinkle Repair Serum or Diors’ UV shield BB Cream, which are both available in a squeezable plastic tubes.
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Squeezable Plastic Tubes Decoration Capabilities to Boost its End Use Value
The global squeezable plastic tubes market is characterized by manufacturers incorporating decoration qualities into squeezable plastic tubes to enhance end-use value. Decoration elements for squeezable plastic tubes involve hot stamping such as Nahua cosmetic tubes, the printing of high-quality graphics, lacquer effect, etc. Tubes decoration processes add visual value to the squeezable plastic tubes. High decorative visibility of squeezable plastic tubes heavily influences the buying decision of consumers in retail stores. Decoration also allows squeezable plastic tubes manufacturers to price tubes with higher margins as end users are willing to pay premium prices for the squeezable plastic tubes with attractive and decorative features.
It is expected that multinational and national players will enter the squeezable plastic tubes market through multiple entry strategies, including export, marketing agents, and manufacturing. Manufacturers have also begun differentiating their products with changing brand loyalties and expanding their offerings to improve customer experience. Also, manufacturers are enhancing product value through printing, design, and technological capabilities. Manufacturers are laying prime focus on acquisition and mergers to increase their market share.
- Recently, In July 2019, Berry Global Group, Inc. announced the completion of its acquisition of RPC Group Plc for a purchase price of approximately US$ 6.5 billion
- In April 2019, Blackstone Commits up to $460 million to Acquire a Majority Stake in Essel Propack, which will surge the brand value of the company
The Fact.MR report offers a forecast of the global squeezable plastic tubes market for the period 2019-2027. Advancements in end-use applications are urging market players to invest heavily in R&D activities. Increasing modern retail network and changing hygiene habits are accentuating the market demand for squeezable plastic tubes
This post was originally published on Space Market Research