The new report by Expert Market Research titled, ‘Global Tube Packaging Market Trends, Share, Price, Size, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global tube packaging market, assessing the market based on its segments like types, materials, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): Nearly USD 9.7 billion
- Forecast CAGR (2023-2028): 6%
- Forecast Market Size (2026): About USD 13.8 billion
The market for tube packaging is being aided by the surging use of laminated tubes owing to their excellent properties. The extensive use of laminated packaging in cosmetics, toothpaste, and personal care products is propelling the market growth. Moreover, laminated tubes can protect the content from transferring to the tube and prevent it from oxygen contact, due to which it is preferred in the food and beverage industry and the pharmaceutical sector.
This is also catalysing the market growth. In addition, the rising demand for miniature products for on-the-go functionality is augmenting the market growth. The surging popularity of premium cosmetics and personal care products are further driving the growth of the tube packaging industry.
Tube Packaging Industry Definition and Major Segments
Tube packaging is a cylindrical tube that is generally used to store liquids and gels such as toothpaste and ointments. The product in tube packaging is sealed and flattened and has a reusable opening at one end. Tube packaging aids in brand recognition which provides easy usage to the consumers.
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The market can be broadly categorised on the basis of its types into:
Based on material, the market is segmented into:
On the basis of tube packaging, the market is divided into:
- Personal Care and Oral Care
- Cleaning Products
- Consumer Goods
The regional markets of tube packaging are:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Tube Packaging Market Trends
The tube packaging industry is being driven by the shift towards sustainable lifestyles. This is increasing the demand for not only sustainable products but also innovative and environmental product packaging. Moreover, the rising demand for aesthetic packaging by the young population is expected to further boost the market growth.
In addition, the manufacturing of tube packaging with post-consumer recycled materials is appealing to environment-conscious consumers, hence aiding the industry growth. The rising demand for versatile and innovative packaging is increasing the demand for plastic tubes which is consequently fuelling the market growth. Also, technological advancements enhancing the benefits of plastic packaging are anticipated to invigorate the market growth in the forecast period.
Key Market Players
The major players in the market are Albea Group, EPL Limited, Montebello Packaging, Huhtamäki Oyj, Unette Corporation, and VisiPak, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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