Tube Packaging Market Outlook 2031:
The global tube packaging market size was valued at USD 12.19 Billion in 2022 and is projected to reach USD 17.65 Billion by 2031, expanding at a CAGR of 4.2% during the forecast period 2023 - 2031. The growth of the market is attributed to rising demand for innovative packaging solution for cosmetics and food products.
Tubes are usually made from materials such as plastics, aluminum, and paperboard. Creams, lotions, gels and thick liquids are generally stored in tubes. It is a cost-effective way to store cosmetics, medicines, and food products. During the COVID-19 pandemic, the packaging of production decreased due to closedown of manufacturing facilities.
However, the demand for tube packaging remain robust in the pharmaceutical industry due to increasing burden on the healthcare sector.
Tube Packaging Market Trends, Drivers, Restraints, and Opportunities
- Rising use of packaging in the pharmaceutical industry is estimated to propel the tube packaging market growth.
- Increasing purchasing power is anticipated to increase the demand for cosmetic products, fueling the market growth.
- The presence of alternative packaging methods can create challenges for the tube packaging market growth.
- Increasing usage of tube packaging in developing countries can provide various opportunities, stimulating the tube packaging market growth during the forecast period.
Scope of Tube Packaging Market Report
The report on the global tube packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Tube packging Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 – 2021
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Forecast Period
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2023 – 2031
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Segmentation
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Packaging (Squeeze Tube Packaging, Twist Tube Packaging, Stick Tube Packaging, and Cartridges Tube Packaging), Materials (Plastic, Paper, Aluminum, and Others), Applications (Cosmetics & Toiletries, Healthcare & Pharmaceutical, Food, Homecare, and Others),
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Essel Propack Ltd.; VisiPak; ALEBA; Sonoco Products Company; Clariant; Coveris Holdings SA; Montebello Packaging; Huhtamaki OYJ; Romaco Group; Unette Corporation; and Berry Global Group, Inc.
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Tube Packaging Market Segment Insights
Stick segment to hold a significant market share
Based on packaging, the tube packaging market share is divided into squeeze tube packaging, twist tube packaging, stick tube packaging, and cartridges tube packaging. The squeeze tube packaging segment is anticipated to hold a key share of the market in the coming years due to rising demand for flexible packaging solutions.
Moreover, this type of packaging is less expensive to manufacture as compared to glass jars and bottles. On the other hand, the stick tube packaging segment is anticipated to expand at a rapid pace during the forecast period.
Aluminum segment is expected to grow at a rapid pace
On the basis of materials, the tube packaging market is segregated into plastics tube packaging, paper tube packaging, and aluminum tube packaging. The paper tube packaging segment is expected to represent a key share of the market in the upcoming years owing to safety and durability, which makes them highly preferable in pharmaceutical, cosmetics, and toiletries industries.
However, the aluminum tube packaging segment is anticipated to expand at a rapid pace during the forecast period owing to their recyclability and eco-friendliness.
Healthcare & pharmaceutical segment is expected to grow at a rapid pace
Based on applications, the tube packaging market is divided into cosmetics & toiletries tube packaging, healthcare & pharmaceutical tube packaging, food tube packaging, and cartridges tube packaging. The cosmetics & toiletries paper tube packaging segment is expected to represent a key share of the market in the upcoming years due to growing demand for innovative packaging solutions.
On the other hand, the healthcare & pharmaceutical tube packaging segment is anticipated to expand at a rapid pace during the forecast period. The tube packaging provides safety of product from outside atmosphere.
North America is estimated to account a major market share
In terms of regions, the tube packaging market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a significant share of the market during the projected period. Wide expansion in term of R&D investment for the development of tube packaging products acts as a major driver of the market growth in the region.
However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The growth of the market in region is attributed to increasing demand for tube packaging in countries such as India and China.
Segments
The global tube packaging market has been segmented on the basis of
Packaging
- Squeeze Tube Packaging
- Twist Tube Packaging
- Stick Tube Packaging
- Cartridge Tube packaging
Materials
- Plastic Tube Packaging
- Paper Tube Packaging
- Aluminum Tube Packaging
Applications
- Cosmetics &Toiletries Tube Packaging
- Healthcare &Pharmaceutical Tube Packaging
- Food Tube Packaging
- Homecare Tube Packaging
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the tube packaging market includes Essel Propack Ltd.; VisiPak; ALEBA; Sonoco Products Company; Clariant; Coveris Holdings SA; Montebello Packaging; Huhtamaki OYJ; Romaco Group; Unette Corporation; and Berry Global Group, Inc.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
In March 2018, Amcor and SIG packaging companies joined forces for aluminum sourcing where they aimed to ensure smooth supply chain of aluminum foils to meet the norms of the Aluminum Stewardship Initiative (ASI).
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