Tier-1 players are expected to contribute 10% to 15% to the total market, as the production of plastic tubes hit all-time high. Sales of plastic tubes are expected to increase at 5.0% CAGR between 2021 and 2031.
The plastic tubes market is anticipated to generate US$ 959 Mn. As plastic tube production reached an all-time high, Tier 1 firms are anticipated to contribute between 10% and 15% to the market as a whole. Between 2021 and 2031, plastic tube sales are projected to grow at a CAGR of 5.0 percent.
In addition, the U.S. plastic tube market is anticipated to grow at a 3.8 percent CAGR, with North American sales reaching over US$ 213 million in 2021. Furthermore, the report predicts that by 2021, plastic tubes would account for 30% of the market for packing tubes, with a value of over US$ 3.1 billion. In terms of applications, the dental, cosmetic, and pharmaceutical segments will account for more than 83.1% of the market’s demand in 2021.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4757
How will Increasing Consumption of Cosmetic Products Augment Plastic Tubes Sales?
The global cosmetics and beauty industry is one of the frequent end users of plastic tubes. Rising consciousness towards wellness and beauty is driving the cosmetics and personal care industry.
Hence, consumption of cosmetic plastic tubes in these industries for skin, hair, and body care treatments is one the major factor spurring the sales in the plastic tubes market.
Millennials have become more cautious and keen on maintaining their health. Additionally, increasing penetration of social media and the internet is promoting the importance of skincare and hair care routines.
On account of the aforementioned factors, consumption of plastic tubes in cosmetic industry is expected to burgeon over the coming years. Further, plastic tubes are predominantly used to pack anti-aging creams, shampoos, hair conditioners, and other cosmetics products.
Competitive Environment
The main producers of plastic tubes are concentrating on employing environmentally friendly materials, hygienic solutions, and a superb visual aesthetic look.
The producers are gradually substituting eco-friendly materials for plastic in order to lessen the impact on the environment and enhance the footprint of packaging solutions.
Leading companies are increasing their sales by combining sustainable materials with eco-design principles that use recycled materials, renewable resources, and product safety. Furthermore, they are concentrating on providing cutting-edge plastic tubes while also striving for strategic alliances with other businesses for sustainable tube packaging.
Vicco Labs and EPL Limited teamed up in November 2021 to develop the company’s line of turmeric products and introduce Vicco Turmeric’s sustainable tube packaging.
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-4757
Key Companies Profiled
Plastic Tubes Market by Category
By Material :
By Capacity :
By Closure :
By Application :
By Region :
Report Customization available @ https://www.futuremarketinsights.com/customization-available/rep-gb-4757
About FMI Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Plastic Tubes Market Share , Plastic Tubes Market Growth , Plastic Tubes Market Demand , Plastic Tubes Market Sales , Plastic Tubes Market Revenue , Plastic Tubes Market Profit , Plastic Tubes Market Analysis , Plastic Tubes Market Size , Plastic Tubes Market Seg
Aug 12, 2022
Copyright © 2006 - 2023 PRnob Media, UBIC Solutions, LLC. All Rights Reserved.
