Press release
Global Tube Packaging Market To Be Driven By The Rising Demand For Sustainable Packaging In The Forecast Period Of 2022-2027
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 (2017-2027)
Historical Market Size (2020): Nearly USD 9.7 billion
Forecast CAGR (2022-2027): 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.
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.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/tube-packaging-market
The market can be broadly categorised on the basis of its types into:
Squeeze
Twist
Stick
Cartridges
Others
Based on material, the market is segmented into:
Laminate
Plastic
Aluminium
Others
On the basis of tube packaging, the market is divided into:
Personal Care and Oral Care
Healthcare
Food
Cleaning Products
Consumer Goods
Others
The regional markets of tube packaging are:
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
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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Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients' requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
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