The global Tube Packaging Market size is expected to reach USD 16.11 billion by 2028 registering a CAGR of 6.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand from end-use industries including personal care, cosmetics, and oral care is expected to drive the market growth. Higher consumer awareness about health and wellness is expected to increase the demand for anti-tan, anti-aging, sun blocks, and other creams, which, in turn, is expected to drive the market over 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 market growth.
The Covid-19 pandemic is expected to result
in economic instability and thus increasing unemployment for the short term. As
per the International Monetary Fund (IMF), over 170 countries across the world
witnessed a decline in per capita income in 2020. This changing income pattern
is expected to affect the demand for luxurious or high-end cosmetic products,
which, in turn, will have a negative impact on the market growth. The market is
highly competitive and moderately fragmented with the presence of multiple
global and regional players. Domestic players are constantly challenging global
companies, in terms of product development and innovation.
Related
Press Release@ Tube
Packaging Market Report
Tube Packaging Market Report Highlights
·
The laminated product segment is expected
to register the fastest CAGR of 7.0% from 2021 to 2028. Laminated tube is the
most preferred form of packaging for premium cosmetics and other premium
skincare and pharmaceutical products owing to its ability to combine the
benefits of both metal and plastic in one solution
·
North America led the market in 2020 and is
projected to retain the dominance over the forecast period owing to the
presence of global cosmetics and pharmaceutical product manufacturers
·
Asia Pacific is anticipated to be the
fastest-growing regional market from 2021 to 2028 owing to high product demand
as a result of increased consumer spending
·
The squeeze and collapsible type segment
accounted for the largest share in 2020. The segment will retain its leading
position register the fastest CAGR over the forecast period
Tube Packaging Market Segmentation
Grand View Research has segmented the
global tube packaging market on the basis of tube type, product, application,
and region:
Tube Packaging Tube Type Outlook
(Revenue, USD Million, 2017 - 2028)
·
Squeeze and Collapsible
·
Twist
Tube Packaging Product Outlook (Revenue,
USD Million, 2017 - 2028)
·
Laminated
·
Plastic
·
Aluminum
Tube Packaging Application Outlook
(Revenue, USD Million, 2017 - 2028)
·
Personal Care & Oral Care
·
Healthcare
·
Food
·
Consumer Goods
·
Others
Tube Packaging Regional Outlook (Revenue,
USD Million, 2017 - 2028)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o U.K.
o Spain
o France
o Italy
·
Asia Pacific
o China
o India
o Japan
o Thailand
·
Central & South America
o Brazil
o Argentina
·
Middle East & Africa
o South Africa
List of Key Players of Tube Packaging
Market
·
Essel Propack Limited
·
VisiPak
·
Sonoco Products Company
·
ALBEA
·
Clariant
·
Montebello Packaging
·
Huhtamaki OYJ
·
Unette Corporation
·
Romaco Group
· Hoffman Neopac AG
About Us:Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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