Paper and paper-based packaging has become an important aspect of modern life due to the increased demand for food and consumer products. The demand for these products is rising due to their ease of availability because of its paper-based packaging solution. The use of paperboard in board tubs packaging is gaining traction as primary and secondary packaging in forms of cubs, tubs, and tubes. These board tubs packaging is different from composite containers as they required the only paperboard as their raw material. Adding to this, often these board tubs packaging requires an over cap, which is usually made up of plastic or paperboard. Furthermore, the high gloss, glaze, flat furnished and custom print on board tubes are used as a display pole that supports temporary, semi-permanent & seasonal display and act as an added value to the product which not only improves the shelf presence but also helps in achieving maximum consumer appeal.
Board Tubs Packaging Market- Market Segmentation:
Global board tubs packaging market is segmented on the basis of product type, material type and end use. On the basis of product type, board tubs packaging market can be segmented into cups, tubs, and tubes. Adding to this, board tubes are further sub-segmented into one piece, telescopic and butt joined. On the basis of material type, board tubs packaging market can be segmented into paperboard, polyethylene, polypropylene and polyester wherein, paperboard accounts for the largest share of the overall market of board tubs packaging because it acts as a primary raw material of the board tubs packaging. On the basis of end use, board tubs packaging market can be segmented into food & beverages, personal care, home care and others. Food and beverages are expected to maintain the highest market share in board tubs packaging market due to its wide adoption in ice-cream, yogurt and chilled products.
Board Tubs Packaging Market - Market Dynamics:
One of the significant factors contributing towards the growth of the board tubs packaging market is the rampant growth in the retail sector. Moreover, board tubs packaging is considered as a modern retail packaging solution and is expected to grow along with the growth of hypermarket, supermarket, and online retail sales. One of the major reasons for the growth of the board tubs packaging market is the increasing awareness towards environmental sustainability as board tubs packaging can be recycled. Another prominent aspect towards the growth of the board tubs packaging market is the growing concern towards health issues that are related to another form of packaging material such as plastic; wherein plastic is used as a raw material for making cups and tubs. Adding to this, the increasing disposable income among the middle-class income group is expected to drive the growth of the board tubs packaging market.
However, the restraining factor towards the growth of the board tubs packaging market is the high price of board tubs as compared to plastic tubs. Moreover, manufacturers of plastic tubs are increasing their investment to innovate their product with the prime focus on environmental issues and consumer convenience, which is expected to obstruct the growth of the board tubs packaging market. Furthermore, another factor that is expected to hinder the growth of the board tubs packaging market is the non-reusable feature of the board tubs.
Board Tubs Packaging Market - Regional Outlook:
Geographically, the global board tubs packaging market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global board tubs packaging market is expected to witness a stable CAGR over the forecast period of 2016-2024. Moreover, North America is expected to be the largest board tubs packaging market in terms of cups and tubs, due to the rising consumption of dairy products. Apart from this, the extensive evolution of the retail sector in the growing economies such as India & China is expected to boost further the sales of the board tubs packaging market in Asia Pacific by the end of the forecast period of 2016-2024.
Board Tubs Packaging Market - Major Players:
Some of the major players identified across the globe in the board tubs packaging market are CBT Packaging Ltd, F Bender Limited, The Paper Cup Company, Oji Fibre Solutions (NZ) Ltd, Dart Container Corporation, Paper Tube Co., PTS Manufacturing Co., Crescent Paper Tube Company, Inc., Multi-cup Solutions (Pty) Ltd & Spiral Paper Tube & Core.
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