With the significant rise in the packaging industry across the world, the global market for aluminum barrier laminate tubes has witnessed a tremendous surge in its valuation and size. Aluminum barrier laminate tubes are majorly utilized for the packaging of various consumer goods, such as premium dental creams, antiseptics, oils, and adhesives, worldwide. These tubes are apt for food products as well. As the demand for premium consumer goods is increasing substantially, the market for aluminum barrier laminate tubes is expected to witness a noticeable growth, globally, in the years to come.
By 2017, the worldwide aluminum barrier laminate tubes market is anticipated to offer an opportunity worth US$772.3 mn. It is expected to rise further at a CAGR of 5.50% between 2017 and 2024 and attain a value of US$1.01 bn by the end of 2024. The rising awareness among consumers regarding the eco-friendliness of aluminum barrier laminate tubes when compared to ordinary plastic tubes is also expected to boost their demand in the near future, reflecting greatly on this market.
50 to 100 ml Segment to Dominate Global Aluminum Barrier Laminate Tubes Market
In general, the global aluminum barrier laminate tubes market is evaluated on the basis of the capacity, type of the cap, and the end users. In terms of capacity, the market is classified into less than 50 ml, 50 to 100 ml, 101 to 150 ml, and above 150 ml. Among these, the most prominent segment in this market is the 50 to 100 ml segment, which is likely to remain on the top over the next few years.
Stand-up cap, fez cap, nozzle cap, and flip top cap are the main segments of this market on the basis of the type of the cap and the cosmetics, commercial, oral care, home and other personal care, pharmaceuticals, and the food industries are the prime end user of aluminum barrier laminate tubes.
Europe to Surface as Leading Regional Market for Aluminum Barrier Laminate Tubes
The Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ), Latin America, North America, Europe, and Japan are the prime regional markets for aluminum barrier laminate tubes across the world. Of these, Europe has surfaced as the leading contributor to the global market for aluminum barrier laminate tubes, thanks to the high disposable income of people in this region that allow them to spend on expensive premium consumer products. Expanding at a CAGR of 5.50% over the period of 2017–2022, the Europe market for aluminum barrier laminate tubes will continue to lead the global market over the next few years.
North America is also expected to register a steady growth in its market for aluminum barrier laminate tubes in the near future on the grounds of the presence of a large pool of aluminum barrier laminate tube vendors. This regional market is expected to report a CAGR of 4.70% between 2017 and 2024. Among other regional markets, Asia Pacific excluding Japan is anticipated to register a promising future, proliferating at a CAGR of 6.50% during the period from 2017 to 2024. Other regional markets are also projected to witness an increase in the demand for aluminum barrier laminate tubes in the years to come.
Ambertube International, Essel Propack Ltd., Pirlo GmbH & Co. KG, Montebello Packaging Inc., Hoffmann Neopac AG, Linhardt GmbH & Co. KG, Impact International Pty. Ltd., Huhtamaki Oyj, Tubapack S.A., and Intrapac International Corp. are some the leading players functioning in the global aluminum barrier laminate (ABL) tubes market.
Increasing Demand for Medical Services creates opportunities in Aluminum Barrier Laminate (ABL) Tubes Market
The growing demand for premium quality consumer goods is expected to emerge as the primary factor promoting the growth of the global aluminum barrier laminate tubes market. In addition to this, the rapidly accelerating packaging sector is also accelerating demand for aluminum barrier laminate tubes, thereby aiding in expansion of the market in the years to come. Aluminum barrier laminate tubes are used mainly for the bundling of different customer products like germ-killers, dental creams, oils, and glues, and others. These tubes can be used for storing food items too. As the interest for premium shopper products is expanding considerably, the market for aluminum barrier laminate tubes is likely to witness notable development, all around the world, in the years to come.
An expanding number of medical services activities including efforts, advancements, and wellbeing mindfulness programs are noticed around the world. This is attributable to rising examples of persistent illnesses including atherosclerosis, heart sicknesses, heftiness, and diabetes among others. Furthermore, rising discretionary cash flow combined with occupied schedules has prompted purchasers receiving unfortunate and lighthearted ways of life enlarging the interest for drug items including laminate tubes among others.
The significant expense of aluminum barrier laminate tubes is relied upon to restrict their compass among shoppers across the world, prompting a lull in the development pace of this market somewhat soon. In any case, the rising mindfulness among shoppers with respect to the climate amicability of aluminum barrier laminate tubes, when contrasted with standard plastic tubes, is additionally foreseen to fuel demand in the market in the following years, impelling this market immensely.
The Aluminum barrier laminate tubes market is likely to become further inferable from the interest for little measured bundling arrangements in beautifying agents and individual consideration industry. Aluminum barrier laminate tubes are practical bundling arrangements and simple to utilize which are delivered in different sizes. The market is relied upon to observe obstruction from sachets which are effectively accessible in little sizes.
