Tube packaging is most commonly used to package oral care products, pharmaceuticals, condiments, and various consumer goods. Tube packaging offers key advantages such as ease of use, leak-proof sealing, flexibility for various product sizes and customized shapes. It protects products from contamination, oxidation, and spillage during storage and transportation. Rising demand for eco-friendly and flexible packaging solutions from end-use industries is fueling the 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 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends gaining traction in the tube packaging market is the rising demand for lightweight and multilayer tubes. Market players are focusing on developing lightweight tubes with multilayer film construction that provides high barrier protection against moisture, gases, and aids in extending product shelf-life. For instance, several packaging manufacturers offer lightweight aluminum foil laminated multilayer tubes for premium cosmetic and skincare brands. Another notable trend is the introduction of bio-based and compostable tubes made using materials such as paper and bio-plastics. This is expected to support the market growth over the forecast period owing to rising environmental consciousness among brand owners and consumers.

Porter’s Analysis

Threat of new entrants: The tube packaging market requires high initial investments in machineries and equipment which makes it difficult for new players to enter the market.
Bargaining power of buyers: The presence of many established players in the tube packaging market gives buyers high bargaining power to negotiate on prices.
Bargaging power of suppliers: Raw material suppliers have moderate bargaining power due to availability of substitute raw materials.
Threat of new substitutes: Substitute packaging options like pouches, bottles and jars pose minimal threat as tubes are most suitable for products like adhesives, oils, paints etc.
Competitive rivalry: The tube packaging market is highly fragmented with top players competing on innovation, quality and pricing.

Key Takeaways

The global Tube Packaging Market Share is expected to witness high growth. 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 4.4% over the forecast period 2023 to 2030.

North America dominates the global tube packaging market owing to high demand from personal care and healthcare industries. Europe follows North America in terms of market share in the tube packaging market due to large pharmaceutical industry. Asia Pacific is expected to be the fastest growing region over the forecast period.

Key players operating in the tube packaging market are 3M Company, Arthrex, Inc., ArthroCare Corporation, Biomet, Inc., BREG, Inc., Conmed Corporation, DePuy Mitek, Inc., DJO Global, Inc., Mueller Sports Medicine, Inc., Ossur hf, and OttoBock Healthcare GmbH. Key players are focusing on new product launches, partnerships and mergers & acquisitions to strengthen their presence in the tube packaging market. For instance, 3M introduced new advanced adhesive tapes and films for medical applications in 2021.

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