Research Nester released a report titled “Composite Cardboard Tube Packaging Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the composite cardboard tubes packaging market in terms of market segmentation by material type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global composite cardboard tube packaging market was valued at USD 2.9 Billion in 2018 and is expected to reach USD 4.6 Billion by 2027 by growing at a CAGR of around 5.9% over the forecast period i.e. 2019-2027. The market is segmented by material type & end user, out of which, the end-user segment if further bifurcated into food & beverages, cosmetics & personal care, postal & mailing industry and others. On the basis of material, the market is sub-divided into paperboard, kraft paper & corrugated board, out of which, the corrugated boards segment is anticipated to have significant growth owing to its high demand in the market
North America region is currently holding leading market for composite cardboard tube packaging which can be attributed to high standards of living among the people of the region and their willingness to pay for efficient packaging services. Asia Pacific is most preferred region for companies. Countries like India and China are expected to have steady growth in the market owing to increase in urban class population and rise in retail sector. Additionally, presence of large number of end use industries using composite cardboard tube along with the ones having transit operations is leading to the growth of the market in this region.
Digital Printing & Attractive Packaging Attributes
The key reason behind the growth of the market is the increased demand from the manufacturers for striking and remarkable branding of their products. Moreover, the goods in transit are safe from theft and weather conditions in composite cardboard tubes. Apart from providing safe packaging solutions, they also have attractive packaging attributes. These factors are anticipated to support the growth of the market in upcoming years.
However, high cost associated with the composite cardboard tube packaging is anticipated to negatively affect the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the composite cardboard tubes packaging which includes company profiling of Smurfit Kappa Group, CBT Packaging, Visican Ltd., and Darpac P/L, Humber Print & Packaging Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the composite cardboard tubes packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.