Tube Packaging Market Size 2022, By Segmentations, Growth, Trends & Forecast to 2030

Global Tube Packaging Market: Introduction
Tube packaging is in widespread use for creams, ointments, gels, and even thick liquids. It is also used for solids as it offers a layer of protecting, preventing the contents from breakage.

The tube packaging materials commonly used include plastic, metal, brick cartons, paper, cardboard, and glass.

These materials are used in various end-use industries dependent on packaging requirements. For instance, aluminium and tin are used to store food & beverages in cans.

This is due to the corrosion resistant properties of these metals, which ensures that the product is not contaminated.

Similarly, alcohol is typically stored and sold in glass bottles, as it looks visually appealing and has a longer shelf life than plastic bottles.

Global Tube Packaging Market: Overview
The global tube packaging market size is expected to grow from USD 10.13 Billion in 2022 to USD 16.89 Billion by 2030, at a CAGR of 6.6%.

Factors like the rapidly widening urbanization, growing millennial population, and rising disposable incomes of consumers are the major contributors to the growth of the market studied.

Urbanization has been accounted for the augment of disposable income and creating awareness about the availability of different cosmetics products.

Thus, providing several opportunities for market players and significantly spurring the demand for Tube packing.

The laminated tubes are at present governing the market owing to its multi-layered barrier structure.

These tubes improve the shelf-life of the product by providing supreme barrier properties and lower the transfer of oxygen and light, offering protection against bacteria, due to which the demand is rising.

The pharmaceutical market is also driving the growth of the market especially medicines that are used in Dermatology where tube packing is extensively used.

Download a Free Sample Copy of Tube Packaging Market: https://wemarketresearch.com/sample-request/tube-packaging-market/124/

Key Trends: Growth Determinants and Challenges:

Plastics to Drive the Market Growth
Plastic is a prominent material used in tube packaging, due to its low cost, lightweight, flexibility, durability, and other factors. In addition, it is odourless and offers a pleasant appearance.

The application of plastic tubes in various industries that include cosmetic and personal care, food, and pharmaceutical, among others, leads to lesser transportation costs and energy waste. This type of packaging also fortifies product safety and prolongs shelf life.

As convenience and hygiene are acquiring importance across regions, the demand for plastic tubes is propelling, specifically in the cosmetic industry.

Nevertheless, sustainable packaging has ensured significant amounts of plastic recycling and innovations in material technology that have enabled the development of environment-friendly plastic packaging solutions.

Further, to strike a balance between better economics and sustainability, major players are shifting to recyclable packaging by using reusable and compostable plastic material.

Competitive Landscape:

Essel Propack Limited
VisiPak
Sonoco Products Company
ALBEA
Clariant
Montebello Packaging
Huhtamaki OYJ
Unette Corporation
Romaco Group
Hoffman Neopac AG
Segmental Analysis of Global Tube Packaging Market:

Based on Type

Squeeze and Collapsible
Twist
Based on Product

Laminated
Plastic
Aluminium
laminated tubes dominated the market with a market share, due to the high demand for laminates as it combines the properties of both plastic and metal, and thereby protects the products from spoilage.

Based on Application

Healthcare
Food
Personal Care and Oral Care
Consumer Goods
Others
The personal care & oral care application segment accounted for the largest revenue share. Growing awareness regarding health and wellness coupled with higher demand for chemical-free, organic products is expected to drive the segment growth over the forecast period.

Based on Region
North America(US, Canada), Europe(Germany, UK, Italy, Spain, France), Asia-Pacific(China, Japan, India, South Korea, Australia), Latin America(Brazil, Mexico), Middle East and Africa(GCC Countries, South Africa, Egypt)

North America dominated the industry with a revenue share of 32.59% and is anticipated to maintain the leading position over the forecast period. The prevalence of well-established personal care and healthcare industries in the region is responsible for the higher market share. Asia Pacific is projected to be the fastest-growing regional market over the forecast period.

Major Development:

In February 2021, Hoffman Neopack AG introduced a lighter plastic tube solution that uses up to 30% fewer virgin materials. This tube is the newest addition to the company's EcoDesign series of environmentally friendly tubes. It aligns with the packaging industry's vision to reduce carbon footprint and materials waste.

In January 2020, Albea Group has started construction of a new facility in Huai'an, Jiangsu province, north of Shanghai, China. The expansion will include the production of new injection, decoration, and assembly equipment to satisfy the increasing demand from both domestic and foreign beauty brands.

Major questions answered in the report:

What are the major challenges, trends and growth factors in the global Tube Packaging Market?
Which top companies are contributing in the growth of Global Tube Packaging market?
Which regional segment accounts for the largest market revenue share in the global tube packaging market?

Key Takeaways from the report:

Deep-insights on regional analysis coupled with other segmental analysis.
Growth factors, trends and challenges.
The global tube packaging market size is expected to grow from USD 10.13 Billion in 2022 to USD 16.89 Billion by 2030, at a CAGR of 6.6%.

For More Details, Visit Our Report Page: https://wemarketresearch.com/reports/tube-packaging-market/124/

Contact Us:
We Market Research
Phone: +1(650)-666-4592
Email: sales@wemarketresearch.com
Web: https://wemarketresearch.com/

About We Market Research:
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

This release was published on openPR.