Packaging industry has undergone vast changes in recent years. Apart from product protection and preservation, more emphasis is being made on product branding, communication and many other functions that focuses on product visibility. Composite cardboard tubes are one of the packaging types that provide preservation and protection, simultaneously enhancing the appeal and image of a particular product. It consists of a recycle paper tube body which is sealed with plastic or a tin base and a lid.
They are primarily used for packaging of premium and promotional items. They are highly flexible as they use less material in comparison to usual cardboard boxes of similar specifications. These tubes are robust, tough to crush and are characterized by their shape retaining property. They are distinctive and are widely used and highly preferred in logistics, adding value to the products.
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. The market is anticipated to record a CAGR of around 5.9% over the forecast period i.e. 2019-2027. The market is segmented by material & end user. The material segment is further bifurcated 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. Corrugated boards differ in thickness and are available in different sizes. They are cost effective packaging solutions and are easy to recycle. The demand for corrugated boards is likely to increase in the coming years as they provide cushioning to the product and thus ensure safety in transportation of the product. Additionally, increased focus on product promotion and branding is expected to play an important role in increasing the demand for composite cardboard tubes across the world.
The market is segmented by end users into food & beverages, cosmetics & personal care, postal & mailing industry and others. The food & beverage segment is further categorized into alcoholic beverages, non-alcoholic beverages, bakery and dairy industry. Food & beverages segment gained significant market share as compared to other segments owing to the rising demand for more refined packaging along with its assurance for safe transportation of materials. The demand for composite cardboard tubes is also increasing at a higher pace in cosmetic and personal care industry. These tubes offer high resistance to heat and pressure, thereby increasing the demand for the tubes in this industry. The rate of adoption of the tubes in this industry is expected to expand at a rate of 7.5% in the coming years. CLICK TO DOWNLOAD FREE SAMPLE
The key reason behind the growth of the market is the increased demand from the manufacturers for striking and remarkable branding of their products. The composite cardboard tubes help in increasing the product sales and reducing the chances of snapping during the transit of the product. Digital printing on the composite cardboard tubes is the key attraction for the makers for promoting their products. The growing demand for efficient and attractive packaging is expected to increase the sales of the composite cardboard tubes in many countries.
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The goods in transit are safe from theft and weather conditions in composite cardboard tubes. Additionally, the other drivers behind the growth of the market include noteworthy product demand owing to their features such as remarkable and striking packaging along with the safety and security attributes they provide.
Composite cardboard packaging increases the sales of the product as compared to other types of packaging. The attractive packaging and digital printing on the tubes is a major factor contributing towards the increased product sales, further boosting the companies’ revenue.
The high cost associated with the composite cardboard tube packaging is anticipated to negatively affect the growth of the market over the forecast period.
Our-in depth analysis of the composite cardboard tube packaging market includes the following segments:
On the basis of regional analysis, the composite cardboard tube packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in North America is currently leading which can be attributed to high standards of living among the people of the region and their willingness to pay for efficient packaging services. Moreover, high disposable income of the people in North America is driving the demand for composite cardboard tubes. Asia Pacific countries like India and China are expected to have steady growth in the market owing to increase in urban class population and growing retail sector. 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 Asia Pacific region. Demand and sale of the product is higher in China as compared to other countries, followed by India.
The composite cardboard tube packaging market is further classified on the basis of region as follows:
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