A tube is a hollow and cylindrical container used to store thick liquids like ointment, adhesive, caulking and toothpaste. It is made up of different kind of materials like plastic, aluminum or paperboard, etc. Tubes are widely used in packaging application. Tube packaging is used in different industries such as printing, labeling, punching, slicing, etc. Tube packaging has its applications in cosmetics and oral care, food and beverage, pharmaceutical and personal care.
The tube packaging market in Latin American region is mainly driven by increasing population, rising per capita income and rising trends of sustainable packaging. Food and Beverages is alone a key driver for the tube packaging market. Cosmetics & oral care application segment is expected to observe enormous growth in the next few years in tube packaging followed by Pharmaceutical applications. Key material market for tube packaging includes laminated tubes, aluminum tubes, plastic tubes and other tubes. Increase in competition, aggressive pricing, rising consumer spending, excellent barrier properties in tubes and sustainable packaging are driving the market. The Latin America market for tube packaging is estimated to be $XXm in 2016 and is projected to grow at a CAGR of XX% and is forecast to reach $XXm by 2022.
Brazil & Mexico are the key leading countries in the Latin American tube packaging market owing to the increase in demand and for cosmetics and food and beverage packaged goods in these countries. Brazil is estimated to grow at a CAGR of XX% during the forecast period of 2017-2022 to reach revenue of $XXm in 2022 from revenue of $XXm in 2016. Socioeconomic difference across various countries is restraining the market growth in this region. Rising investments from developed country like the U.S. is poised to improve the market dynamics in coming future in the region. Changing consumer lifestyle and differing consumer buying habits are other factors impacting the market growth in the region.