The UK tube packaging market is estimated to grow at a considerable CAGR of around 6.6% during the forecast period (2021-2027). The pivotal factor that contributes to the market growth in the country is the significant demand for recycled packaging solution in various industries due to government initiatives. The government is also actively working to reduce plastic waste and increase recycling activities. In March 2020, the government of UK announced a tax of $260 (£200) per ton on virgin plastic in the 2020 budget. The tax will be applied from April 2022 to the plastic packaging which does not contain at least 30% recycled plastic. The tax will be applied from April 2022 to both plastics, which are manufactured in UK or imported from any other country. The tax rate and limit of 30% recycled plastic will continuously remain in review by the government and may change to fulfil the aim of promoting recycled plastic packaging.
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There is a significant rise in the adoption of personal care products and a growing trend for portable, compact, attractive, and inexpensive packaging solutions, which is propelling the growth of the tube packaging market in the country. The packaging and labelling of cosmetic tubes portray the quality of the product and is regarded as one of the important determinants in its market appeal. Along with this, the increasing sales of trial packs of branded and expensive cosmetics products in the form of use-and-throw plastic tubes of 10-50 ml is further supporting the market growth across the globe. This includes the celebrity-owned brands along with the top global cosmetics companies, such as L’Oréal and Lakme.
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Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and the coming years?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
o Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
UK Tube Packaging Market – Segmentation
By Material Type
- Laminated Tubes
- Aluminum Tubes
- Plastic Tubes
- Others( Paper)
By Vertical
- Cosmetics and Oral Care
- Food & Beverages
- Pharmaceutical
- Others (Cleaning Products)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
