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Flexible Packaging Is Fastest Growing Segment Fueling The Growth Of Tube Packaging Market

Tube Packaging Market

The global Tube Packaging Market is estimated to be valued at US$ 10585.97 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Tube packaging refers to packaging solution made of plastic, laminated paper or aluminum foil for various end-use applications like beauty and personal care, food and beverages and others. Tube packaging provides ease of handling, protects product quality and displays the product attractively to attract customers.

Market key trends:

One of the key trends in tube packaging market is increasing adoption of flexible packaging. Flexible packaging is the fastest growing segment in tube packaging market owing to various advantages such as lightweight, durable, cost effectiveness and eco-friendly nature over rigid packaging. Flexible packaging caters to growing demand for on-the-go consumption and offers ease of portability. Moreover, flexible packaging tubes are customizable to carry variable fill quantities and are ideal for squeezable viscous products. Increasing demand from cosmetics and beauty products for flexible and customized packaging will continue to drive the growth of flexible tube packaging over the forecast period.

Segment Analysis:

The global tube packaging market is segmented by materials into plastic, aluminum and laminated. The plastic segment account for over 50% of the market share in 2023. Plastic tubes are widely used due to factors such as flexibility, durability and availability of tubes in various sizes. Squeezable plastic tubes are the most common type of tubes used for product packaging such as cosmetics, oral care and food & beverages.

Key Takeaways

The Global Tube Packaging Market Size is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing demand from cosmetic, oral care and food & beverages industries.

Regional analysis:

Asia Pacific region dominated the global tube packaging market in 2023 with a market share of around 35%, followed by North America and Europe. The Asia Pacific region is expected to witness fastest growth over the forecast period. This is attributed by rising demand from India and China where manufacturing activities in cosmetic & personal care and pharmaceutical industries are growing.

Key players

Key players operating in the 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, and CCL Packaging USA.

Explorer more information on this topic, Please visit - 

https://www.insightprobing.com/tube-packaging-market-share-and-demand-analysis/ 

Explore more trending article on this topic - 

https://diveintoinsights123.weebly.com/blog1/open-up-new-avenues-for-the-tube-packaging-market 

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