Press release
With a CAGR Of 5.7% Packaging Tube Market To Reach $3.5 Billion By 2031
According to a new report published by Allied Market Research, titled, "Packaging Tube Market," The packaging tube market size was valued at $9.8 billion in 2021, and is estimated to reach $17.9 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
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A packaging tube is essentially a cylindrical, hollow object made of plastic, paperboard, aluminum, or another metal with a round or oval form. The packaging tube also known as squeeze tube, or collapsible tube and is used for viscous substances such as toothpaste, artist's paint, glue, caulk, and ointments. The personal care industry is expected to grow significantly as a result of increasing consumer awareness of their own personal health and wellness.
Tubes offer several benefits over traditional packaging, including their excellent protection for the product, their ability to fit into tight spaces, and their lighter weight. Additionally, tubes are cost-effective to produce, easy to open, store, and transport, and they are highly customizable.
As the packaging tube industry continues to grow, so too do the number of innovative designs and materials used. Manufacturers are constantly pushing the boundaries of what is possible, creating tubes that are tailored to the specific needs of their customers. From custom-printed designs to special closures, the possibilities are virtually endless.
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In addition to the many advancements in design and materials, the packaging tube industry is also becoming more environmentally friendly. Many manufacturers are now using recyclable and biodegradable materials, such as paper and cardboard, in their tubes. This shift towards more sustainable packaging is helping to reduce the environmental impact of the industry.
The packaging tube industry is an exciting and constantly evolving field. By leveraging the latest materials and designs, manufacturers are able to create innovative packaging solutions that meet the needs of their customers. As the industry continues to grow, we can expect to see even more exciting developments in the near future.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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