Press release
Tube Packaging Market Size, Share Analysis, Industry Insights, Growth, And Forecast To 2033
Tube Packaging Market Size
Tube Packaging Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $17.38 billion In 2028 At A CAGR Of 9.6% :
The tube packaging market size has grown strongly in recent years. It will grow from $11.04 billion in 2023 to $12.03 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to consumer preferences for convenient and easy-to-use packaging, growing demand for compact packaging within the care and oral care industry, considerable expansion in the packaging industry, novel packaging with superior barrier characteristics, cost efficiency option.
The tube packaging market size is expected to see strong growth in the next few years. It will grow to $17.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to shift in end-user attitudes toward ecological packaging, increasing demand for convenience packaging, e-commerce growth, regulations and safety, health and hygiene. Major trends in the forecast period include sustainable competitive advantage gained through innovation and partnerships, innovative dispensing mechanisms, collaboration with design agencies, lightweighting, growing technological developments.
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Tube Packaging Market Major Segments
The tube packaging market covered in this report is segmented -
1) By Type: Laminated, Aluminum, Plastic
2) By Type Of Package: Squeeze, Twist, Stick, Cartridges, Other Package Ty Pes
3) By Application: Oral Care, Cosmetics, Food & Beverage, Pharmaceuticals, Cleaning Products, Other Applications
Key Driver - The Growth Of The Tube Packaging Market Fueled By The Flexible Packaging Industry
The growth of the flexible packaging industry is expected to propel the growth of the tube packaging market going forward. Flexible packaging refers to the packaging of products using non-rigid materials. Flexible packaging helps the tube packaging global market to grow by packing consumer and institutional products and in industrial applications, to market, protect, and distribute different products. For instance, according to the Flexible Packaging Association, a US-based association of flexible packaging manufacturers, the flexible packaging industry generated $33.6 billion in sales and it was the second largest packaging segment in the US and generated 19% of the packaging sales in the U.S. Therefore the growth of the flexible packaging industry is driving the growth of the tube packaging market.
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Prominent Trend - Innovative Product Strategies In Tube Packaging Market
Product innovation is a key trend gaining popularity in the tube packaging market. Major companies operating in the tube packaging market are looking for innovative products to strengthen their position in the market. For instance, in May 2021, BillerudKorsnas, a Sweden-based paper mill company launched paper tube packaging made of BillerudKorsnäs FibreForm. BillerudKorsnäs FibreForm is a unique low-carbon material that allows the tube to keep its shape when squeezed, without traces, which makes it unique compared to tubes made of other fiber materials that allow for up to ten times deeper embossing than regular paper, resulting in unique 3D effects and a memorable tactile experience.
Tube Packaging Market Players
Major companies operating in the tube packaging market include Albea S.A., Amcor Limited, Essel Propack Limited, Sonoco Products Company, World Wide Packaging Inc., Huhtamaki OYJ, Montebello Packaging, Unette Corporation, Romaco Group, Hoffman Neopac AG, CCL Industries Inc., VisiPak Inc., Sinclair & Rush Inc., M&H Plastics, Berry Global Inc., Tuboplast, Constantia Flexibles Group GmbH, AptarGroup Inc, Viva Group, CTL Packaging USA Inc, Maverick Enterprises Inc., Tubex Holding GmbH & Co KG, Pack-Tubes SAS, Alltub SAS, Lajovic Tuba d.o.o., Linhardt GmbH & Co KG
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Largest And Fastest Growing Region In The Market
North America was the largest region in the tube packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tube packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Tube Packaging Market Report Structure
3. Tube Packaging Market Trends And Strategies
4. Tube Packaging Market - Macro Economic Scenario
5. Tube Packaging Market Size And Growth
…..
27. Tube Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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