The Tube Packaging Market is estimated to be valued at US$ 10585.97 Mn or US$ 10.58597 Bn 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 flexible packaging solution used for products like cosmetic products, food & beverages, pharmaceuticals, and others. It provides various benefits such as easy portability, re-sealability, protection against moisture, UV rays, and spillage. Tubes are widely used for packaging gels, creams, lotions, shampoos, adhesives, and others. They are manufactured using materials such as laminated films, aluminum, plastic, among others. The demand for tube packaging is growing significantly owing to increasing consumption of personal care and cosmetics products globally. Market Dynamics:- The tube packaging market is driven by growing demand for sustainable packaging. Rising environmental concerns have compelled packaging manufacturers to produce packaging using sustainable materials. Tube packaging made from bioplastics and recyclable materials is gaining traction. For instance, Amcor expanded its Evergreen line of packaging with the launch of paper-based tubes that provide barrier protection without using plastics. Another key driver is the increasing consumption of skin care and hair care products. Changing lifestyles and growing urbanization have increased the usage of these products in emerging economies. The demand for small and premium packaging from cosmetic brands is propelling the tube packaging market growth. Segment Analysis:- The tube packaging market can be segmented based on material, application, and end use. By material, the plastic segment dominates the market as plastic tubes provide barrier properties and printability. They can also be coded and tracked easily. By application, the oral care segment accounts for the largest share as toothpastes and other oral care products extensively use plastic tubes for packaging. By end use, the cosmetics and personal care industry widely adopts tube packaging solutions due to the versatility and ease of application tubes provide to products like creams, lotions, gels, and pastes. PEST Analysis:-
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 the oral care and cosmetics industries. The Asia Pacific region dominates the market and is expected to grow the fastest during the analysis period, attributable to rising living standards, expanding middle-class population, and surging sales of skin and hair care products in China, India, and Southeast Asian countries. 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. Key players are focused on developing sustainable and customized solutions to cater to the requirements of product manufacturers across industries. Read More - https://www.newsstatix.com/tube-packaging-market-forecasts-and-outlook-analysis/
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