May 26, 2024
Tube Packaging Market

Tube Packaging Market Is Expected To Be Flourished By Rising Demand From Cosmetic And Personal Care Industry

Tube packaging is a type of pre-formed plastic or aluminum packaging for viscous products and is commonly used for cosmetics, pharmaceuticals, food products, and other industrial goods packaging. Tubes provide optimum protection, cost-effectiveness, and convenience in the storage and transportation of viscous products. Tubes are available in various shapes and sizes as per the product requirements. They are generally made of polyethylene, polypropylene, aluminum, polyester, and other materials. Cosmetics and personal care products such as lotions, creams, gels, and others widely use tube packaging.

Their use prevents leakage, and contamination, and increases the overall shelf life of the products. Tubes also facilitate ease of application and precision dosage of cosmetics and personal care products. The growth of the cosmetics and personal care industry worldwide, coupled with its high use of tubes for premium and customized packaging of beauty products, is fueling the growth of the global tube packaging market.

The global Tube Packaging Market is estimated to be valued at US$ 10585.97 Mn  in 2023 and is expected to exhibit a  CAGR of 4.5%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

The demand from the growing cosmetics and personal care industry (as referred from the heading) is the key driver propelling the tube packaging market growth. According to the U.S. Census Bureau, global personal care sales increased from $495 billion in 2015 to $683 billion in 2021 signifying a robust CAGR of 6.5%. Tube packaging has emerged as a preferred choice for cosmetic and skincare products due to convenience of use and portability. Furthermore, advantages of tubes such as precise product dosing and prevention of leakage are compelling cosmetic brands to invest more in tube-fillered product packaging. Additionally, (as referred from the heading) rising per capita consumer disposable incomes in emerging countries is augmenting spending on premium personal care and cosmetic products which come packaged in sophisticated tubes. The expansion of organized retail sector and impulse product displays is another factor providing traction to the tube packaging market.

Segment Analysis

The tube packaging market is segmented into the material, diameter size, closure type, application, and region. Based on material, the market is classified into plastic, aluminium, and laminated. The plastic segment dominates the market holding around 70% share owing to its cost effective and flexible nature. Plastic tubes provide excellent barrier protection and moisture resistance making them ideal for various personal care and healthcare products.

PEST Analysis

Political: Regulatory bodies in various countries are promoting usage of sustainable and eco-friendly packaging materials which is supporting growth of aluminium and laminated tubes. Economical: Increasing disposable incomes in developing nations is driving demand for premium personal care products packed in premium tubes. Growth in healthcare and food industries worldwide present potential opportunities. Social: Rising health and beauty consciousness among consumers is fueling demand for wide range of cosmetic and derma-care products. Technological: Advances in digital printing technology is enabling manufacturers to design attractive tubes with product information and brand messages which aids marketing.

Key Takeaways

The global Tube Packaging Market Demand is expected to witness high growth at a  CAGR of 4.5%  during the forecast period of 2023 to 2030.

Regional analysis:Asia Pacific region dominated the market in 2023 with a share of over 35% owing to large population, rapid urbanization and growth in personal care and pharmaceutical industries in countries like India and China. The region is expected to continue its dominance in the upcoming years.

Key players: Key players operating in the tube packaging market are Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group. Amcor Limited and Berry Plastics collectively account for over 25% share due to their huge production capabilities and global presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it