The global Tube Packaging Market is estimated to be valued at US$ 10585.97 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tube packaging refers to packaging solution made of plastic, laminated paper or aluminum foil for various end-use applications like beauty and personal care, food and beverages and others. Tube packaging provides ease of handling, protects product quality and displays the product attractively to attract customers.
Market key trends:
One of the key trends in tube packaging market is increasing adoption of flexible packaging. Flexible packaging is the fastest growing segment in tube packaging market owing to various advantages such as lightweight, durable, cost effectiveness and eco-friendly nature over rigid packaging. Flexible packaging caters to growing demand for on-the-go consumption and offers ease of portability. Moreover, flexible packaging tubes are customizable to carry variable fill quantities and are ideal for squeezable viscous products. Increasing demand from cosmetics and beauty products for flexible and customized packaging will continue to drive the growth of flexible tube packaging over the forecast period.
Segment Analysis:
The global tube packaging market is segmented by materials into plastic, aluminum and laminated. The plastic segment account for over 50% of the market share in 2023. Plastic tubes are widely used due to factors such as flexibility, durability and availability of tubes in various sizes. Squeezable plastic tubes are the most common type of tubes used for product packaging such as cosmetics, oral care and food & beverages.
Key Takeaways
The Global Tube Packaging Market Size is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing demand from cosmetic, oral care and food & beverages industries.
Regional analysis:
Asia Pacific region dominated the global tube packaging market in 2023 with a market share of around 35%, followed by North America and Europe. The Asia Pacific region is expected to witness fastest growth over the forecast period. This is attributed by rising demand from India and China where manufacturing activities in cosmetic & personal care and pharmaceutical industries are growing.
Key players
Key players operating in the tube packaging market are Albea S.A., Amcor Limited, Essel Propack Limited, Sonoco Products Company, World Wide Packaging Inc., Montebello Packaging Inc., VisiPak, Inc., Intrapac International Corporation, CCL Industries Inc., Hoffman Neopack AG, Huhtamaki Oyj, and CCL Packaging USA.
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This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the tube packaging market include Amcor ltd., Albéa group, HuhtamäkiOyj, Constantia Flexible, Sonoco Product Company, VisiPak ltd, EsselPropack Ltd, Montebello Packaging, Unette Corporation, M Plastics Ltd..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Tube Packaging Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/tube-packaging-market/download-sampleMarket DynamicsTube packaging is a significant part of the packaging.
In terms of material, plastic material held maximum share.
It is also being used for solids as it provides a layer of protection, preventing the contents from breakage.
For cosmetic products packaging, players are coming up with new innovative, promotional, retail, and gift ideas to appeal customers such as nano tube laminate, dual nozzle tube, ultra flat, mini pump tube, and many more.
