Tube Packaging Market by Materials (Laminate, Plastic, Aluminum, and Others), By Product (Squeezable Tubes, Twisted Tubes, and Others), Application (Personal Care, Pharmaceuticals, Food, Consumer Goods, and Others), and Region – Forecasts until 2030
Insulated Concrete Forms Market Overview
According to global industry trends, the global tube packaging market size is expected to grow from USD 9.5 billion in 2021 to USD 13.0 billion by 2027, at a CAGR of 6.6% during the forecast period. The propelling market factor for the global tube packaging market is the growing demand for cosmetic and oral care applications.
The global tube packaging market includes major Tier I and II vendors like Amcor (Switzerland), Albea Group (France), Essel Propack Limited (India), Hoffman Neopack AG (Switzerland) and Huhtamaki Oyj (Finland) . These global market vendors have their manufacturing facilities spread across various countries in Asia-Pacific, Europe, North America, and the rest of the world. COVID-19 has also impacted their business.
The global tube packaging market is expected to witness a slight decline in its growth rate in 2020-2021 as the packaging industry experiences a decline in its marketable output. However, there seems to be an increase in the demand for tube packaging for oral care, food and beverage, and pharmaceutical product packaging applications in the market.
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Some of the key players contributing to the expansion of the tube packaging market are mentioned as follows:
- 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
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Flexible packaging is the second largest packaging segment in the United States, with a 19% share of the total packaging market valued at $170 billion. The flexible packaging industry in the market is heavily influenced by the economic growth of various industries such as cosmetics, toiletries, and other purposes like pharmaceuticals. In the APAC region, this industry is expected to witness massive growth in the coming years due to the increase in the middle class population. Countries in the region such as India, China, Saudi Arabia, Russia and Brazil are emerging markets for flexible packaging and are expected to grow rapidly.
The tube packaging market segment is mentioned as follows:
- Oral care
- Beauty products
- food and drinks
- Asia Pacific
- North America
- Middle East
- South America
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The APAC region accounted for the largest tube packaging market share in the pandemic year 2020. The APAC market propelling regions of the region are growing owing to the rise in demand for innovative small packaging for cosmetic and oral care applications in the region.
- In February 2021, tube packaging market trends show that Hoffman Neopack AG introduced a lighter plastic tube solution that uses up to 30% less virgin material. The tube is the newest addition to the company’s EcoDesign series of environmentally friendly tubes. It helps align with the packaging industry’s vision of reducing carbon footprint and material waste.
- In January 2020, another company – Albea Group, started construction of a new factory in Huai’an, Jiangsu province, north of Shanghai, China. The expansion of the global market in the region will include the production of new injection, decoration and further assembly equipment to meet the growing demand from domestic and foreign beauty brands.
2.1 Definition 14
2.2 Scope of the study 14
2.3 Assumptions 14
2.4 Market structure 15
3 Research methodology
3.1 Research process 16
3.2 Primary research 17
3.3 Secondary research 17
3.4 Market Size Estimation 17
3.5 Forecasting model 19
4 Market dynamics
4.1 Drivers 20
4.1.1 Growth in the pharmaceutical industry 20
4.1.2 Increase in demand from the cosmetics industry 22
4.1.3 Innovation in packaging 22
4.2 Restraint 23
4.2.1 Fluctuation in commodity prices 23
4.3 Opportunity 23
4.3.1 Reach in developing countries 23
4.3.2 Impact of packaging 23
5 Market Factor Analysis
5.1 Porter’s five forces analysis 24
5.1.1 Threat of new entrants 25
5.1.2 Bargaining power of suppliers 25
5.1.3 Bargaining power of buyers 25
5.1.4 Threat of Substitutes 25
5.1.5 Rivalry 25
5.2 Value chain analysis 26
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