Tube Packaging Market Size to Hit New profit-making Growth By 2030

The global tube packaging market was valued at USD 12.7 billion in 2021 and is estimated to reach USD 20.7 billion by 2030, registering a CAGR of 6.3% from 2022-2030. Tubes are one of the most popular packaging formats in the personal care and cosmetic segment. They are primarily attributed to their convenience, portability, and flexibility to hold and dispense a wide variety of products. Various factors, like increasing urbanization, the growing millennial population, and rising disposable incomes of consumers, are the major contributors to the market's growth. Increase disposable income and growing awareness about the availability of different cosmetics products; thus, creating several opportunities for the market players and significantly spurring the demand for tube packing.

Laminated tubes are currently governing the market owing to their multi-layered barrier structure. These tubes improve the product's shelf-life by providing excellent barrier properties and minimizing the transfer of oxygen and light, offering protection against bacteria, due to which the demand is rising. For instance, a laminated tube project from Berry Plastics has met Burt's Bees' high environmental standards, a personal care products company (pet care line extension).

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These tubes are used for dogs' paw, and nose relieving lotions and comprise 60% post-consumer recycles resin (PCR). The company is investing significantly to increase the total amount of PCR to 72% further, depending on package size. Additionally, Essel Propack, a Virginia-based company, invested in new tooling to manufacture a 60 mm laminate tube for Unilever’s AXE brand body wash, which is expected to increase the demand for laminated tubes over the forecast period.

Global Tube Packaging Market Dynamics

Drivers: Increased Demand from the Cosmetic Industry

With the rise of various and customized beauty products, there has been an increase in the demand for efficient packaging of products. This can be attributed to the increasing awareness about personal grooming, which has expanded the consumer base of cosmetic products. The increasing demand for cosmetic products in emerging countries and growing consumer awareness drive the companies' investments that develop innovative packaging solutions. So, a rise in the demand for cosmetic products is expected to boost the demand for packaging.

Restraints: Regulations in the Packaging Industry

The increasing use of plastic in cosmetic tube packaging has several harmful impacts on plastic disposal in the environment. Therefore, the use of plastics has been banned across various sectors. The increasing use of plastic in cosmetic tube packaging has several harmful impacts on plastic disposal in the environment. Therefore, the use of plastics has been banned across various sectors.

Moreover, it also leads the companies to manufacture sustainable and environment-friendly products to adhere to the norms and regulations. In December 2018, LAGEENTUBES introduced a revolutionary new direct Digital Printing process on GREEN Plastic Tubes. The tubes are made up of sugarcanes and are fully recyclable.

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Scope of the Report

The study categorizes the tube packaging market based on types of packaging, material, and end-users at the regional and global levels.

By Types of Packaging Outlook (Sales, USD Million, 2017-2030)

• Squeeze
• Twist
• Stick
• Cartridges
• Other Types of Packaging

By Material Outlook (Sales, USD Million, 2017-2030)

• Plastic
• Paper
• Aluminum
• Other Materials

By End-User Outlook (Sales, USD Million, 2017-2030)

• Cosmetics and Toiletries
• Healthcare and Pharmaceutical
• Food
• Adhesive
• Other End-user Industries

By Region Outlook (Sales, USD Million, 2017-2030)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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The squeeze segment is projected to account for the largest market share by type of packaging

Based on the type of packaging, the global tube packaging market is divided into squeeze, twist, stick, cartridges, and other types of packaging. In 2021, the squeeze segment accounted for the largest market share of 61.5% in the global tube packaging market. The squeeze tube packaging segment, owing to its excellent barrier protection, high elasticity, and ease of packaging, has made it the preferred mode of packaging for viscous liquids, such as toothpaste, artist's paint, adhesive, caulk, ointments, and many more. This has resulted in squeezable tubes finding applications across various end-user industries, such as cosmetics, food, and pharmaceuticals, among others.

Squeezable packaging is being increasingly adopted across the cosmetics industry. It provides the end-users with ease of handling, and users can easily dispense the right amount of cosmetics product, and it ensures that contents of the product may remain stable for a longer period.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global tube packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 7.1% in the global tube packaging market during the forecast period. The APAC region is experiencing a higher rate of urbanization.

After the Asia Pacific, Europe is the fastest-growing region with a CAGR of 6.6% during the forecast period. Cosmetics holds a significant share of all tubes produced in Europe. The outlook for this market segment continues to be good. For instance, Le Couvent des Minimes, a French Haute Parfumerie brand, has recently launched a new range of laminate and plastic tubes for cosmetics and personal care. Also, the rising incomes in Eastern European countries and a continually improving standard of living are likely to intensify the demand for cosmetic products further.

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Key Market Players

The tube packaging market is mildly concentrated in nature, with few numbers global players operating in the market, such as Essel Propack Ltd, Westrock Company, Cpp Global, Amcor Plc, Berry Global Inc., CCL Industries Inc., Visipak Inc., Hct Group, Silgan Plastics, Fischbach Kg, CTL - TH Packaging Group SL, Viva Group, Western Container Corporation, Intrapac International Llc, Albéa S.A., and Valk Industries, Inc. Every company follows its business strategy to attain the maximum market share.

Article source: https://article-realm.com/article/Finance/19442-Tube-Packaging-Market-Size-to-Hit-New-profit-making-Growth-By-2030.html