Tube Packaging Market Trends by 2023, Business Growth, New Applications, and Revenues by 2023 to 2030 | Albea S.A., Amcor Limited, Essel Propack Limited

Tube packing is a mechanism for containing and safeguarding a product. It is essential in the safe storage and handling of a product. Furthermore, it protects against dust, rain, and wind. Packaging, in addition to protecting the product, aids in marketing the product to buyers. Elegant packaging design with a variety of colour schemes and designs influences customer preferences. Aesthetically pleasing packaging is intended to reflect the quality of the product and thus serves both brand marketing and advertising purposes. There are two forms of packaging: rigid and flexible. Flexible packaging refers to any package whose shape may be easily adjusted to meet the needs of consumers, such as bags and pouches. Whereas, rigid packaging include boxes, trays, cans, bottles, and pots and is the dominant segment.

Global tube packaging market was valued at US$ 9,263.5 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.9% during the forecast period (2022 to 2030).

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Competitor Analysis:

The significant players operating in the global Tube Packaging market are

★ Albea S.A.
★ Amcor Limited
★ Essel Propack Limited
★ Sonoco Products Company
★ World Wide Packaging Inc.
★ Montebello Packaging Inc.
★ VisiPak Inc.
★ Intrapac International Corporation
★ CCL Industries Inc.
★ Hoffman Neopack AG
★ Huhtamaki Oyj
★ CCL Packaging USA

Market Segmentation -

This report has explored the key segments: by Type and by Application. The lucrativeness and growth potential have been looked into by the industry experts in this report. This report also provides revenue forecast data by type and by application segments based on value for the period 2023-2030.

By Product Type, the market is primarily segmented into:

✦ Squeeze Tubes
✦ Twist Tubes
✦ Extruded Tubes
✦ Cartridges
✦ Others

By Applications, the market is segmented into:

✦ Oral Care
✦ Beauty & Cosmetics
✦ Food
✦ Healthcare & Pharmaceutical
✦ Adhesives & Sealants

This Report lets you identify the opportunities in Tube Packaging Market by means of a region:

⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)

Drivers:

Increase in the prevalence for the small-sized packs in personal care products is the major factor driving the market growth, also rise in the technological advancement and development in packaging technology, increase in the wide applications of packaging technique in different industrial areas, concern related to hygiene and convenience packaging and demand for excellent barrier properties in packaging materials are the major factors among others propelling the growth of tube packaging market. Moreover, rise in the growth of bioplastic-based packaging, paper-based tube packaging and demand for innovative and convenience packaging will further create new opportunities for the tube packaging market in the forecast period.

Tube packaging has higher applicability in the healthcare industry owing to its ability to maintain optimal packaging conditions to prolong the shelf life of the packaged products. Thus, the ease of applicability and easy dispensability is expected to contribute to the rising product demand in healthcare applications. Increasing healthcare spending across the globe is expected to drive the pharmaceutical industry. This is expected to augment the market growth.

Among region, Europe is the fastest growing region and held the largest market share of about 30.0% in 2021, owing to widespread adoption of tube packaging in oral care and cosmetic industries in the region. Availability of wide-range of tube packaging solutions along with rising demand for convenient packaging is projected to fuel the market growth in Europe in the near future.

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