The global tube packaging market is estimated to be valued at US$ 9,263.5 Million in 2022 and is expected to exhibit a CAGR of 6.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Tube packaging is used for various cosmetic and personal care products like lotions, creams, gels etc. It provides product safety, high barrier properties against moisture, gases and light. The compact design of tubes also allows inclusion of advanced features like flip-top caps and squeeze dispensing system for ease of use. Market key trends: One of the key trends in the tube packaging market is the rising demand for sustainable and eco-friendly packaging solutions. Many companies are focusing on developing tubes made from recycled or recyclable materials like post-consumer recycled polyethylene and aluminium to reduce plastic waste. Lightweight and downgauged tubes are also gaining popularity as they require lesser raw materials. Development of multilayer tubes offering high barrier protection along with recycled content is another ongoing trend in the market. Segment Analysis The tube packaging market is segmented by material into plastic, aluminum and laminated. The plastic segment dominated the market in 2021 and accounted for the largest market share of around 60%. Plastic is the most commonly used material for tube packaging due to its flexibility and ability to be molded into various shapes and sizes as per product requirements. It is affordable, durable and lightweight in nature. These properties make plastic tubes ideal for packaging personal care products, food products and pharmaceuticals. Key Takeaways The global Tube Packaging Market Share size was valued at US$ 9,263.5 Million in 2021 and is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period of 2022-2030, due to increasing demand from end-use industries such as personal care, oral care, pharmaceuticals and food. Regional analysis - Asia Pacific dominated the tube packaging market in 2021 with a market share of around 35% and is expected to continue its dominance over the forecast period. This can be attributed to rapid industrialization, growing population and rising disposable incomes in the region which is increasing consumer spending on personal care and healthcare products. Key players - Key players operating in the tube packaging market are Albea S.A., Amcor Limited, Essel Propack Limited, Sonoco Products Company, World Wide Packaging Inc., Montebello Packaging Inc., VisiPak, Inc., Intrapac International Corporation, CCL Industries Inc., Hoffman Neopack AG, Huhtamaki Oyj, and CCL Packaging USA. Amcor Limited currently holds the largest market share globally due to its extensive product portfolio and wide geographical presence across North America, Europe and Asia Pacific. Read More, https://www.insightprobing.com/tube-packaging-market-trends-size-and-share-analysis-2/
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