The latest report by Future Market Insights (FMIs) on cosmetic tubes market offers unbiased industry analysis for the period between 2021 and 2031. The study divulges exclusive information about existing opportunities and emerging trends across leading segments in terms of capacity time, material type, application and region.
FMI, Dubai: As per Future Market Insights (FMI), the global cosmetic tubes market is expected to reach a valuation of US$ 2.4 Bn in 2021. With soaring demand for makeup and skincare products, the overall sales of cosmetic tubes are anticipated to rise at 4.6% CAGR between 2021 and 2031.
Changing lifestyle, rising awareness regarding personal hygiene, increasing spending on cosmetic products, growing women workforce, and advancements in tube materials are some of the factors driving the cosmetic tubes market.
Cosmetic tubes offer various advantages over conventional packaging solutions. They are versatile, easy to use, preserve moisture, and provide effective protection against contamination from various environmental factors.
Rising penetration of online shopping platforms will create attractive scope for sales of cosmetic tubes. As per FMI, plastic cosmetic tubes will continue to dominate the market because they are lightweight, offer improved flexibility, and are available at low cost. Plastic also is preferred by manufacturers because it does not interact with contents within the tube.
However, with the rising environmental concerns regarding the harmful impact of plastic, manufacturers are now focusing on developing cosmetic tubes from biodegradable materials.
Regionally, North America cosmetic tubes market is projected to expand at 3.9% CAGR between 2021 and 2031. Growth in the region can be attributed to the increasing spending on cosmetic products, high penetration of online shopping platforms, and presence of leading packaging manufacturers.
“Some of the leading cosmetic tubes manufacturers are moving away from plastic use to recycled materials. Besides this, they are collaborating with leading cosmetic brands to make deeper inroads in remunerative markets. This will accelerate the growth of cosmetic tubes market,” says the FMI analyst.
Key Takeaways from Cosmetic Tubes Market Survey
- The U.S. is projected to emerge as a highly lucrative market for cosmetic tubes due to increasing consumption of cosmetic products and strong presence of leading players.
- Sales of cosmetic tubes in Germany are anticipated to increase by 3.4% CAGR on account of the rising demand for sustainable cosmetic tubes and presence of cosmetic giants such as Loreal and Gamble.
- With increasing penetration of online shopping platform, rise in number of cosmetic brands and heavy export of cosmetic products, China is forecast to register strong growth during the forecast period.
- Japan and South Korea are projected to account for 15% and 8% share of the East Asia cosmetic tubes market share respectively.
- In terms of material type, plastic remains the most preferred type due to its various advantages.
- Rising demand for affordable and small sized packs for cosmetic products is positively impacting the market growth.
- Development of ecofriendly and recyclable cosmetic tubes will continue to support the market growth.
- Availability of alternative packaging solutions is hampering the growth of the market to a large extent.
- Rising environmental concerns and implementation of stringent regulation regarding the use of plastic, which is a primary material used in the manufacturing of cosmetic tubes, will hamper the growth.
For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/askus/rep-gb-3487
Leading companies operating in the cosmetic tubes market are focusing developing sustainable cosmetic tubes. They have adopted various organic and inorganic growth strategies such as mergers and acquisitions, new product launches, and collaborations to strengthen their global footprint.
- In 2020 Loreal and Albea launched the first paper-based cosmetic tubes. The new cosmetic tubes integrated with certified paper-based material will replace Loreals plastic cosmetic tunes and will help the company to counter the rising environmental concerns.
- In September 2021 EPL Limited (formerly known as Essel Propack Limited), the world’s largest specialty packaging company, partnered with Colgate-Palmolive India, one of the largest oral care brands to produce Recyclable Platina Toothpaste Tubes in India.
- Similarly in June 2021 EPL announced that the company has been selected as a partner by Unilever, in their journey towards achieving 100% sustainability in the oral care segment. Under the partnership, EPL will supply their APR approved, 100% recyclable and fully sustainable Platina Tubes, for the toothpaste category of Unilever.
Some of the prominent players operating in the cosmetic tubes market profiled by FMI are: Albéa Beauty Holdings S.A, Essel Propack Ltd, CCL Industries Inc., Montebello Packaging Inc., Linhardt GmbH & Co KG, Berry Global Group, Inc., Huhtamaki Oyj, Tubopress Italia Spa, Hoffmann Neopac Ag, Intrapac International Corporation., Others