Squeeze tube packaging is packaging for Squeeze tube by using Aluminum, Plastic and Laminate material. The major application of squeeze tube packaging includes, creams tube packaging, adhesive tube packaging, toothpaste tube packaging, caulk, paints tube packaging, ointments tube packaging, and others. Increasing demand from rapidly growing food & beverages, pharmaceutical, and personal care industries is the major driver for the market. Additionally, rising demand for aluminum material packaging from the pharmaceutical sector and the emergence of customized packaging that allows 360 printing and high-quality decoration are the factors that have been supplementing the overall growth of the market. However, Government Regulation and Rising Environmental Awareness as Plastic is not Degradable are the major factors that have been limiting the market. Moreover, advancement in the squeeze tube packaging method and increasing investment in research and development by key players can create a big opportunity for the market.According to AMA, the market for Squeeze Tube Packaging is expected to register a CAGR of 7.89% during the forecast period to 2024. This growth is primarily driven by Increasing Demand from Rapidly Growing Food & Beverages, Pharmaceutical, and Personal Care Industries and Rising Demand for Aluminum Material Packaging from the Pharmaceutical Sector.
Globally, a noticeable market trend is evident The Emergence of Customized Packaging that Allows 360 Printing and High-Quality Decoration. Major Vendors, such as Amcor Limited (Australia), Essel Propack Limited (India), Albea Betts India Pvt. Ltd. (India), Alpha Packaging (United States), Huhtamaki OYJ (Finland), Berry Global Inc. (United States), IntraPac International Corporation (United States), Montebello Packaging Inc. (Canada), Maynard & Harris Plastics (United Kingdom) and Worldwide Packaging Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
It has been observed that many regional government has been taking initiatives for reducing plastic waste present on earth. For instance, according to The European Union (EU) only food-contact materials and articles that contain recycled plastic obtained from an authorized recycling process may be marketed in the EU after petitions for recycling processes received by December 31, 2009, are evaluated.
- Increasing Demand from Rapidly Growing Food & Beverages, Pharmaceutical, and Personal Care Industries
- Rising Demand for Aluminum Material Packaging from the Pharmaceutical Sector
- The Emergence of Customized Packaging that Allows 360 Printing and High-Quality Decoration
- Government Regulation is Hampering the Growth of the Market
Advancement in the Squeeze Tube Packaging Method and Increasing Investment in Research and Development by Key Players
Rising Environmental Awareness as Plastic is not Degradable
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