Tube Packaging Market Definition+ Overview
A tube is a hollow, cylindrical pipe made of rubber, aluminum, or paperboard that is mainly used to hold viscous liquids like ointment, toothpaste, and adhesive. Both ends of the tube are handled differently during the assembly and loading processes. Tubes are one of the most widely used packaging formats in the cosmetics and personal care industry, owing to their ease, portability, and ability to accommodate and dispense a wide range of items.
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The global Tube Packaging market was valued at USD 1,266.7 million in 2020 and is projected to reach USD 1,584.0 million by 2027, exhibiting a CAGR of 2.9% during the forecast period.The primary driver for the tube packaging market is expected to be rising demand for these forms of packaging from application industries such as cosmetics and personal care, healthcare, and food. Consumer understanding of personal wellbeing and wellbeing is considered to be a driving force behind the personal care market’s expansion.
Tube Packaging Market Segmentation+ Geographic Overview
The squeeze and collapsible category led the global Tube packaging market in terms of sales in 2020, with a share of over 71 % . Since it is lightweight, non-breakable, and leak-proof, the plastic squeeze form is the most commonly used product. Laminated and aluminum collapsible types are often used in healthcare and oral care applications. Over the forecast period, the twist style segment is expected to grow at a significant rate.
Laminated tubes led the Tube packaging industry in terms of sales in 2020, with a market share of more than 44%. Due to the high demand for laminates, which combine the properties of both plastic and metal and thus shield goods from spoilage, the segment will grow at the fastest CAGR from 2021 to 2028. Plastic tubes accounted for the second-largest share of the global tube market, with a steady CAGR predicted over the projected period.
The personal care & oral care application section in Tube packaging market accounted for over 67 % of total sales.
With a market share of 32.59 % in 2020, North America led the Tube Packaging market and is predicted to continue to do so in the projected era. The higher market share is due to the presence of well-established personal care and healthcare industries in the area. Over the estimated timeframe, Asia Pacific is expected to be the fastest-growing regional segment. The growing population and disposable income levels are also contributing to the region’s growth.
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Tube packaging is a diverse and dynamic industry with many major key players and a few regional and local players. Some of the major players in the industry are Amcor (Switzerland), Albea Group (France), Essel Propack Limited (India), Hoffman Neopack AG (Switzerland), and Huhtamaki Oyj (Finland).
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