Global Tube Packaging Market - Overview
Tube packaging market is expected to reach USD 8,297.7 million by the end of the forecasted period at a CAGR of 5.79% in the forecast period 2021- 2030, as per the new Market Research Future analysis. Tube packaging, simply put, is a form of packaging which has a tube, a tube opening to fill a solid liquid, and a tube shoulder. The tube walls comprise of two layers that has a tube interior and a plastic layer. This protects the substance against environment effects.
Various factors are fuelling the global tube packaging market. As per the recent MRFR market estimates, such factors include the booming pharmaceutical industry, growing demand from the cosmetic industry, innovation in packaging, increasing need in food and healthcare industry, growing consumer awareness about personal health and wellness, growing consciousness about personal appearance, increasing use during COVID-19 crisis, and increasing preference of consumers for sustainable, safe, and convenient packaging. On the contrary, the volatility in the raw material packaging price may impede the global tube packaging market growth in the forecast period.
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Global Tube Packaging Market – Prominent Players
Runlab Labware Manufacturing Co Ltd,Goodway Technologies Corporation,Rakhoh Industries Pvt. Ltd.,BASCO, Inc,Cobey Inc,Oy Nordic AC Ltd.,Jiaxing Jinyi Solar Energy Technology Co., Ltd.,Sebatibogogo Cylinders & Welding Supply, Inc.,Patterson Pump Company,Columbia Analytical Instruments Inc.,MONTEBELLO PACKAGING are global Tube Packaging Market key players are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Tube Packaging Market.
Additionally, factors such as the increase in urbanization and DIY projects influence the growth of the market. Besides, substantial R&D investments to drive innovations in tape materials, manufacturing techniques, and product developments foster the growth of the market. Consumers today are positively influenced by solutions using recycled content in plastic.
Rising developments of environmental packaging solutions using sustainable solutions increase market sales. On the other hand, price volatility and the demand-supply gap in raw materials required for production are the key factors anticipated to impede market growth.
Moreover, as in the case of other types of grouts that require frequent cleaning, the epoxy resins’ non-porous property prevents collection of grime, moisture or dirt, which is another property that adds to its appeal among the end-users. Although epoxy Tube Packaging can be quite challenging in terms of installation, it still remains ahead of other segments due to extended longevity with better cleaning techniques.
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Tube Packaging Market - Segments:
The MRFR report throws light on an inclusive segmental analysis of the global tube packaging market based on application, materials, and product.
By material, the global tube packaging market is segmented into aluminium, plastic, laminate, and others. Of these, the laminate segment will lead the market over the forecast period.
By product, the global tube packaging market is segmented into twist tubes, squeeze tubes, and others. Of these, the squeeze tubes will dominate the market over the forecast period.
By application, the global tube packaging market is segmented into consumer goods, food, pharmaceuticals, personal care, and others. Of these, personal care will spearhead the market over the forecast period.
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Tube Packaging Market - Regional Analysis:
By region, the global tube packaging market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America and the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. Manufacturers focusing to launch innovative pack formats, sizes, and functionality, changing lifestyle, increasing purchasing power, growth in oral and skin care & niche categories like baby caregiving and men’s grooming, and South Korea, China, and India emerging as manufacturing hubs are adding to the global tube packaging market growth in the region. Besides, the growing population, the rise in disposable income, rising middle-class population, and demand for convenient packaging are also adding market growth.
In Europe, the tube packaging market is predicted to hold the second-largest share over the forecast period. Innovation of food, pharmaceutical, personal care, and oral care industries with packaging and design, busy lifestyles, growing working population, convenience to carry and use, and constant new product development to cater to the growing need from different end-user industries are adding to the global tube packaging market growth in the region.
In North America, the global tube packaging market is predicted to have healthy growth over the forecast period for the presence of well-established healthcare and personal industries.
In RoW, the global tube packaging market is predicted to have healthy growth over the forecast period.
Industry/Innovation/ Related News:
March 2021- Hoffmann Neopac has launched the latest addition to the EcoDesign tube portfolio. It is a plastic tube that is lightweight with reduced wall thickness having up to 30% less virgin material.
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