23-Jun-2022 | Zion Market Research
The global tube packaging market was worth around USD 9.49 billion in 2021 and is estimated to grow to about USD 14.32 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.6 percent over the forecast period.
Tube packaging refers to the inverted triangle packaging design for paste-like or semi-viscous products. Tube packaging is more in demand owing to its cost-effectiveness, versatile packaging, eco-friendly composition, product protection, easy transportation, and high usability. The global tube packaging market has a high presence in the cosmetics, personal care, and pharmaceutical sector given their durability, lightweight, leak-proof, and non-breakable nature. Tube packaging has higher demand owing to one unique feature which is easy transferability which means tube packaging works well for full-sized products as well as minis or sample sizes.
The global market was impacted negatively during Covid-19 owing to reduced demand in the cosmetic sector and the temporary closure of manufacturing units. However, demand in the pharmaceutical and personal care sector maintained the demand value as they were a part of essential items.
Tube packaging is the go-to packaging design for cosmetic and personal care brands. The rising number of domestic and international players in the cosmetics and personal care sector leads to selection confusion amongst the consumer groups. The only strategy that works best for producers and consumers of these items is making the products available in a sample or mini sizes since they are cost-effective and gives a chance to the consumers to try out the product before investing more money in buying full-size products. This strategy is followed by large-scale as well as small-scale manufacturers of personal care and cosmetics products which are expected to aid the global tube packaging market growth during the projection period. There is also a rising trend in the adoption of flexible packaging in developed economies. It is a package solution in which the shape of the outer coating can be molded when a product is being packaged. The rising investment in flexible packaging solutions is expected to assist the global market growth in the coming years. The pharmaceutical sector is one of the largest consumers of tube packaging. The global market is projected to grow as the pharmaceutical sector grows owing to the interdependence of these two sectors which is also aided by constant innovation in the field of smart packaging solutions.
Many strict government regulations may hinder global market growth. However, the increased demand for bioplastic packaging materials is likely to offer growth opportunities for global market expansion whereas the availability of substitutes poses a major challenge to the global market.
The global tube packaging market is categorized based on type, application, and region. Based on type, the market is bifurcated into plastic, laminated, and aluminum. The application segment of the market is segregated into cosmetics, oral care, food & beverage, pharmaceuticals, and cleaning products.
One of the major reasons why North America is expected to dominate the global tube packaging market is the changing trend toward the preference of the flexible packaging industry. As per the Flexible Packaging Association, in the USA, flexible packaging is the second largest packaging segment. This is influenced by the increasing revenue of cosmetics, healthcare, and the personal care sector in this region.
Asia Pacific is expected to register significant CAGR during the forecast period owing to the rising inclination of many international brands to set up their manufacturing units in regions like China, India, and Bangladesh, amongst others. The regional growth is expected to be aided by the rising population and their increasing disposable income.
Europe and the Middle East are expected to generate high global revenue due to the high standard of living in these regions and the presence of multi-billion dollar cosmetics companies.
Major players functioning in the global tube packaging market include Huhtamaki OYJ, Sonoco Products Company, Visipak, Amcor Limited, Essel Propack, Albea Group, Unette Corporation Montebello Packaging, and Worldwide Packaging.
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
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