Global Tube Packaging Market is estimated to be valued at US$ 9,263.5 Million in 2021, according to the Global Tube Packaging Market Report, by Product Type (Squeeze Tubes, Twist Tubes, Extruded Tubes, Cartridges, and Others), by Material Type (Aluminum, Plastic, and Laminated), by Application (Oral Care, Beauty & Cosmetics, Food, Healthcare & Pharmaceuticals, and Adhesives & Sealants), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global tube packaging market was valued at US$ 9,263.5 Million in 2021. Tube packaging market is expected to register a CAGR of 6.9% over the forecast period (2022–2030). The Europe is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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Browse 50 market data tables* and 40 figures* on "Global Tube Packaging Market” - Forecast to 2030.
Key Trends and Analysis of the Global Tube Packaging Market:
- The growing demand for convenient packaging, along with the rising adoption of tube packaging in the personal care industry is expected to boost market growth in the near future. The packaging materials commonly used include plastic, metal, brick cartons, paper, cardboard, and glass. These materials are used in various end-use industries dependent on packaging requirements. For instance, aluminum and tin are used to store food & beverages in cans. This is due to the corrosion resistant properties of these metals, which ensures that the product is not contaminated. Similarly, alcohol is typically stored and sold in glass bottles, as it looks visually appealing and has a longer shelf life than plastic bottles.
Key Takeaways of the Global Tube Packaging Market:
- Europe held the leading market share of about 30.0% in 2021, in the global tube packaging market on account of the presence of major cosmetic companies such as Avon Cosmetics Ltd., L’Oréal, and The Estée Lauder Companies. In addition to this, the proliferation of popular retail product manufacturers together with rising demand for cosmetics and oral care products in the region is projected to bolster the revenue for the tube packaging industry in the near future.
- Tube Packaging provides greater versatility for manufacturers. According to the Whole Package Company, tubes can be made to hold as little as 3ml of specialty cosmetics or as much as 270ml. moreover, tubes can be designed with a variety of heads and external appearances such as needlepoint tips, slanted needlepoint labels, a metal tip applicator, and a brush tip applicator. Availability of such product versatility improves the utility for manufacturers as well as for customers.
- North America provides the tube packaging market with ample growth opportunities. The presence of well-established personal care and healthcare industries is responsible for the higher market share. The increased number of beauty product stores in this region is another driving factor for the growth of tube packaging market.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global tube packaging market. For instance, in October 2019, Stora Ensois a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper globally, developed paperboard tube packaging for cosmetic products, which is biodegradable, renewable, and an alternative for traditional plastic packaging.