Global Tube Packaging Market: Introduction
Tube packaging is in widespread use for creams, ointments, gels, and even thick liquids. It is also used for solids as it offers a layer of protecting, preventing the contents from breakage.
The tube packaging materials commonly used include plastic, metal, brick cartons, paper, cardboard, and glass.
These materials are used in various end-use industries dependent on packaging requirements. For instance, aluminium and tin are used to store food & beverages in cans.
This is due to the corrosion resistant properties of these metals, which ensures that the product is not contaminated.
Similarly, alcohol is typically stored and sold in glass bottles, as it looks visually appealing and has a longer shelf life than plastic bottles.
Global Tube Packaging Market: Overview
The global tube packaging market size is expected to grow from USD 10.13 Billion in 2022 to USD 16.89 Billion by 2030, at a CAGR of 6.6%.
Factors like the rapidly widening urbanization, growing millennial population, and rising disposable incomes of consumers are the major contributors to the growth of the market studied.
Urbanization has been accounted for the augment of disposable income and creating awareness about the availability of different cosmetics products.
Thus, providing several opportunities for market players and significantly spurring the demand for Tube packing.
The laminated tubes are at present governing the market owing to its multi-layered barrier structure.
These tubes improve the shelf-life of the product by providing supreme barrier properties and lower the transfer of oxygen and light, offering protection against bacteria, due to which the demand is rising.
The pharmaceutical market is also driving the growth of the market especially medicines that are used in Dermatology where tube packing is extensively used.
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Expansion in the flexible packaging sector is creating lucrative prospects for the market place to prosper. Industries such as cosmetics, pharmaceuticals, toiletries, etc. are deploying flexible tubes for the packaging of their products owing to the benefits such as affordability, durability, and ease of use offered by these tubes.
Escalating Demand For Bio-Friendly Packaging To Augment Industry Outlook:
With growing instances of environmental pollutions, government across the globe have been implementing various policies and regulations related to the matter. This has resulted in the widespread demand for eco-friendly packaging tubes. Manufacturers have increased the focus on use renewable and non-toxic materials to produce packaging tubes. This is turn is contributing to the overall market growth.
Competitive Landscape:
- Essel Propack Limited
- VisiPak
- Sonoco Products Company
- ALBEA
- Clariant
- Montebello Packaging
- Huhtamaki OYJ
- Unette Corporation
- Romaco Group
- Hoffman Neopac AG
Segmental Analysis of Global Tube Packaging Market:
Based on Type
- Squeeze and Collapsible
- Twist
Based on Product
- Laminated
- Plastic
- Aluminium
laminated tubes dominated the market with a market share, due to the high demand for laminates as it combines the properties of both plastic and metal, and thereby protects the products from spoilage.
Based on Application
- Healthcare
- Food
- Personal Care and Oral Care
- Consumer Goods
- Others
The personal care & oral care application segment accounted for the largest revenue share. Growing awareness regarding health and wellness coupled with higher demand for chemical-free, organic products is expected to drive the segment growth over the forecast period.
Based on Region
North America(US, Canada), Europe(Germany, UK, Italy, Spain, France), Asia-Pacific(China, Japan, India, South Korea, Australia), Latin America(Brazil, Mexico), Middle East and Africa(GCC Countries, South Africa, Egypt)
North America dominated the industry with a revenue share of 32.59% and is anticipated to maintain the leading position over the forecast period. The prevalence of well-established personal care and healthcare industries in the region is responsible for the higher market share. Asia Pacific is projected to be the fastest-growing regional market over the forecast period.
Major Development:
In February 2021, Hoffman Neopack AG introduced a lighter plastic tube solution that uses up to 30% fewer virgin materials. This tube is the newest addition to the company’s EcoDesign series of environmentally friendly tubes. It aligns with the packaging industry’s vision to reduce carbon footprint and materials waste.
In January 2020, Albea Group has started construction of a new facility in Huai’an, Jiangsu province, north of Shanghai, China. The expansion will include the production of new injection, decoration, and assembly equipment to satisfy the increasing demand from both domestic and foreign beauty brands.
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Major questions answered in the report:
- What are the major challenges, trends and growth factors in the global Tube Packaging Market?
- Which top companies are contributing in the growth of Global Tube Packaging market?
- Which regional segment accounts for the largest market revenue share in the global tube packaging market?
Key Takeaways from the report:
- Deep-insights on regional analysis coupled with other segmental analysis.
- Growth factors, trends and challenges.
- The global tube packaging market size is expected to grow from USD 10.13 Billion in 2022 to USD 16.89 Billion by 2030, at a CAGR of 6.6%.
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