09-May-2022 | Zion Market Research
The global Tube Packaging Market was worth around USD 9.46 billion in 2021 and is estimated to grow to about USD 13.57 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.20 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Tube packaging is becoming more popular due to its use in areas such as cosmetics and personal care, healthcare, and food. Increasing consumer awareness of personal health and wellness is predicted to fuel the expansion of the personal care industry. Growing concern about personal appearance is increasing demand for personal care goods, which will increase demand for tube packaging options.
Growing health and wellness awareness, combined with increased demand for chemical-free, organic products, is likely to fuel category growth over the forecast period. The growing senior population, particularly in Europe and North America, is predicted to increase the demand for anti-aging cosmetic products. Pharma companies in North America, such as Pfizer, Inc. and Johnson & Johnson, would drive product demand over the projection period.
The global Tube Packaging market is segregated based on raw material, application, product, and geography. Based on raw materials, the market is divided into three segments: aluminum, plastic, and others. PE is the most utilized plastic in the production of extruded plastic tubes, as evidenced by the increase in production capacity by important players such as Formosa Plastics and Dow. Furthermore, numerous plastics such as LDPE, MDPE, LLDPE, and HDPE are used to produce the items.
Based on Product, the market is segmented into Laminated tubes, Extruded Plastic tubes, and Aluminum tubes. Laminated tubes are made up of numerous layers of polymers or other materials that operate as a significant barrier to light, moisture, and air, increasing the shelf life of packaged goods. Based on application the market is segmented by into Personal Care & Oral Care, Healthcare, Food, Consumer Goods, and Others. This can be linked to increased health and wellness awareness and increased demand for natural, chemical-free, and organic products. The ageing population in the United States and Europe has increased demand for anti-ageing goods in the following years, which is predicted to strengthen growth. Based on geography, the Global Tube Packaging Market is divided into four regions: North America, Europe, Asia Pacific, and the Rest of the World.
APAC region is expected to hold the highest share of the Tube packaging market in 2021. The region's market is expanding because of a growth in demand for tiny and innovative packs for cosmetics and oral care applications. India, China, and South Korea are developing as regional manufacturing powerhouses. The region's growth is also aided by an increasing population and disposable income levels.
Market participants in Europe are always involved in creating new products to meet the increasing demand from various end-user industries. Tora Enso, for example, developed paperboard tube packaging for cosmetic items in October 2019, which is biodegradable, renewable, and an alternative to typical plastic packaging.
The Middle East and Africa are also known for being rapidly developing regions, with the majority of the population earning well and inclined toward consumerism. Because of the availability of substantially cheaper alternatives, customers in the area are becoming less brand loyal.
Tube packaging is a diverse and competitive market with many worldwide competitors and only a few regional and local players. Some of the market's leading companies are Amcor (Switzerland), Albea Group (France), Essel Propack Limited (India), Hoffman Neopack AG (Switzerland), and Huhtamaki Oyj (Finland).
Browse the full “Tube Packaging Market By Raw Material (Aluminum, Plastic, Others), By Product (Laminated Tube, Extruded Plastic Tube, Aluminium Tube), By Application (Personal Care & Oral Care, Healthcare, Food, Consumer Goods & Others) and By Geography – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/tube-packaging-market
Tube Packaging market is segmented as follows:
By Raw Material
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651