February 21, 2024
Tube Packaging Market

The global Tube Packaging Market Growth Accelerated by Sustainability Practices

Tube packaging solutions are innovative forms of packaging used to package cosmetics, healthcare, food products, etc. Tubes provide easy dispensing of products, are highly portable due to their cylindrical shape and stand-up closures. They also help extend product shelf life while taking up less storage space.

The global Tube Packaging Market is estimated to be valued at US$ 12195.04 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Sustainability practices adopted by tube packaging manufacturers are driving the market growth. Rising environmental awareness among consumers have increased the demand for sustainable packaging globally. Tube packaging manufacturers are focusing on developing eco-friendly packaging solutions using recyclable materials. For instance, adoption of Paperboard tubes has increased as they use renewable resources and are recyclable. They reduce the use of plastics and help lower carbon footprint. Growing focus of manufacturers towards sustainable product innovation is expected to boost the tube packaging market during the forecast period.

Segment Analysis
The global tube packaging market is dominated by laminated tubes segment. Laminated tubes have high barrier properties which makes them suitable for packaging of various products such as oral care, beauty and cosmetics, food and beverages, and pharmaceuticals. Laminated tubes provide excellent protection from moisture, oxygen, and other external agents. This increases the shelf life of products packed in laminated tubes.

Key Takeaways

Regional analysis – Asia Pacific region holds the highest share in the global tube packaging market and is expected to witness fastest growth over the forecast period. Increasing population, rising disposable incomes, and growth of end use industries such as oral care, cosmetics, and food and beverages are driving the demand of tube packaging in Asia Pacific countries. The Global Tube Packaging Market Demand is estimated to be valued at US$ 12195.04 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.

Key players – Tube packaging market is highly competitive with presence of large number of players operating globally as well as regionally. Some of the leading players in the tube packaging market are Amcor Limited, Prepack Thailand Co.,Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh. Amcor Limited holds the highest market share in tube packaging market owing to its wide product portfolio and strong geographic presence across major markets.

Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group focuses on new product development and capacity expansion strategies to strengthen their market position and cater to growing demand for tube packaging from end use industries. Companies are also exploring new application areas to drive future growth. Advancements in tube packaging material and designs along with increasing demand for sustainable packaging solutions will reshape the tube packaging market over the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it