The global demand for tube packaging market is expected to witness significant growth in the cosmetics & oral care segment application in near future. These segments are expected to have a maximum share in terms of value and volume in the global tube packaging market. Increasing consumer demands, disposable incomes, market competition, aggressive pricing, excellent barrier capability and sustainable packaging, these are the major factor that drives the global tube packaging market. Moreover, packaging industries developed new packaging techniques with the innovative mindset of end-users towards sustainable packaging are tend to boost the market in the forecast period. Rapid growing urbanization and low labor cost accelerate the global market. Irregular raw material prices and tough competition are key restraints for the global tube packaging industry and is expected to hamper the growth during the forecast period.
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Cosmetics and oral care division is anticipated to witness maximum growth with rapid urbanization, increased population, changing lifestyle, etc. Pharmaceuticals application segment was leading in terms of huge demand in 2017. Increasing developmental activities in the Asia Pacific in the generation of tube packaging market for casting application is anticipated to drive the market over the forecast period.
This development is accredited to the increasing population in developing nations such as India and China, which serves a massive customer base for consumer durables and cosmetic products; this in turn is anticipated to boost the tube packaging market. In addition, other developing economies such as countries in Latin America and the Middle East are witnessing high demand for tube packaging. Owing to damp subtropical climate of countries in many regions, the demand for products such as sunscreen is escalating rapidly.
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