by The Tube Packaging Market is estimated to be valued at US$ 10585.97 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tube packaging refers to packaging mainly used for pastes, gels, and liquids, mainly made of materials like aluminum & plastic. It is available in various shapes & sizes as per product requirements. Cosmetics & personal care industry is the major end-user of tube packaging for products like creams, lotions, gels, etc. due to the easy application & portability features. Tubes protect products from leaks & contamination and help increase shelf life.
Market Dynamics:
Rise in urbanization & changing lifestyle are major demand drivers for the tube packaging market. According to United Nations statistics, around 68% of the global population is projected to live in urban areas by 2050. This has increased the demand for packaged consumer goods across personal care, food & beverages, and other industries. Furthermore, growing health awareness has boosted demand for nutritional supplements, healthcare products that mainly use tube packaging. Increase in per capita disposable income in developing nations has amplified consumer spending on premium products that prefer quality tube packaging. However, stringent regulations around plastic usage and raw material price volatility remain key challenges for market players.
Segment Analysis:
The tube packaging market is dominated by the plastic sub-segment. Plastic tubes are lightweight, cost-effective and provide excellent barrier protection against moisture, oxygen, and other external elements. Plastic offers enhanced printability and graphics capabilities which drives its demand in personal care and cosmetic products packaging. Plastic tubes have high flexibility and can take various shapes and sizes as per the product requirements.
PEST Analysis:
Political: Stable political environment and supportive government policies promoting plastic recycling are boosting the tube packaging market growth.
Economic: Rising disposable incomes and increasing spending on personal care and cosmetic products are fueling the market demand. Growth in e-commerce industry is also driving the market.
Social: Changing lifestyles, rising health and beauty consciousness among consumers are increasing the adoption of skincare and hair care products packaged in innovative tubes.
Technological: Advancements in plastic processing and packaging machinery enable high productivity and automation. Developments in tube laminations allow for additional functionalities and shelf-appeal.
Key Takeaways:
The Global Tube Packaging Market Demand is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing spending on personal care and cosmetic products. The market size is projected to reach US$ 15,752.68 Mn by 2030 from US$ 10,585.97 Mn in 2023.
Regional analysis: Asia Pacific dominates the market and is expected to grow at the fastest rate during the forecast period. Rapid urbanization, rising disposable incomes, and increasing popularity of skin and hair care products drive the APAC tube packaging market.
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. These players are focusing on new product development, mergers, acquisitions, and capacity expansions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
