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The Asia Pacific region is witnessing significant growth owing to the robust growth of the cosmetics and personal care industry. The inflating purchasing power of the emerging middle-class population in countries, such as India, China, and Vietnam, are aiding the market growth of tube packaging. Moreover, the penetration of major cosmetic companies providing free sample products to appeal to consumers is increasing the use of tube packaging, hence propelling the industry growth. Furthermore, internet penetration and the surge of online retail platforms are escalating awareness as well as accessibility to various premium products usually available in tube packaging. This is also invigorating the market growth. Moreover, soaring production activities in countries such as China, India, and South Korea, among others, are augmenting the regional market growth, therefore contributing significantly to the overall growth of the tube packaging industry.
In April 2019, Huhtamäki Oyj (HEL: HUH1V), one of the leading players in the market, started a flexible packaging manufacturing unit in Egypt. With the inauguration of the packaging unit, the company penetrated manufacturing flexible packaging in Egypt. The unit serves the customers in Egypt as well as export its products to other African and European countries. The rapid population growth in Africa is expected to increase the demand for flexible packaging in the region. Moreover, the employment of innovative practices and the latest technologies boosts the production process by providing advanced packaging solutions. In addition, the manufacturing unit is built on a land area of almost 37,000 square metres, with ample space for future expansions. The establishment of the unit is not only expanding the company’s growth and global presence but also invigorating the overall growth of the tube packaging industry.
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The major players in the global market for tube packaging are Albea Group, EPL Limited, Montebello Packaging, Huhtamäki Oyj, Unette Corporation, and VisiPak, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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