Pune, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that “The Tube Packaging Market reached USD 10.86 billion in 2022 and is projected to attain USD 17.32 billion by 2030, experiencing a CAGR of 6% during the forecast period from 2023 to 2030”.
Market Report Scope
Tube packaging is a versatile and innovative form of packaging that is widely used across various industries. It consists of cylindrical containers made from materials like plastic, aluminum, or paperboard, sealed at one or both ends. The tubes can vary in size and are commonly seen in the form of squeeze tubes, collapsible tubes, or twist-off cap tubes. The customization options for tube packaging are vast, enabling brands to create unique and attractive designs that resonate with their target audience.
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Market Analysis
The tube packaging market is set to continue its growth trajectory, primarily driven by the growing emphasis on sustainability, convenience, e-commerce trends, the booming cosmetic and personal care industry, and the heightened focus on health and hygiene. As businesses and consumers embrace eco-friendly practices and seek innovative packaging solutions, tube packaging is likely to remain at the forefront of the packaging industry, meeting the evolving needs of various sectors while reducing the environmental impact.
Tube Packaging Market Overview & Scope:
| Report Attributes | Details |
| Market Size by 2023 | USD 10.86 billion in 2022 |
| Market Share by 2030 | USD 17.32 billion by 2030 |
| CAGR | CAGR of 6% from 2023-2030 |
| Key Segments | By Material (Plastic, Aluminium, Laminate, Others) By Product Type (Squeeze Tubes, Twist Tubes, Collapsible Tubes) By Application (Healthcare, Personal Care, Food, Pharmaceuticals, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
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Impact of Recession
Recessions undoubtedly present challenges to the tube packaging market, affecting consumer spending, industrial demand, and overall business viability. However, the industry can weather the storm by diversifying into essential industries, innovating their product offerings, and optimizing their operations. Moreover, collaboration between manufacturers, suppliers, and customers could foster resilience and long-term sustainability in the face of economic uncertainties. By embracing change and continuously adapting to market dynamics, the tube packaging industry can emerge stronger from recessionary periods.
Impact of Russia-Ukraine War
The Russia-Ukraine war has had wide-ranging implications for global industries, and the tube packaging market is no exception. The disruptions in the supply chain, price volatility, and emerging sustainability trends have reshaped the landscape of tube packaging, impacting industries that heavily rely on this packaging solution. As businesses adapt to the new realities, they are also embracing innovation and diversification to ensure a more resilient and sustainable future for the market in a post-conflict era.
Key Regional Development
The tube packaging market's regional dynamics are shaped by a combination of factors such as consumer preferences, economic conditions, environmental consciousness, and regulatory policies. Manufacturers need to stay agile and innovative to cater to the specific demands of each region while meeting sustainability goals to remain competitive in this ever-changing landscape. By understanding and adapting to these regional dynamics, companies can position themselves for success and contribute to a more sustainable and efficient packaging industry.
Key Takeaway from Tube Packaging Market Study
- The healthcare segment has emerged as a vital player in the market due to the critical nature of the products it houses. Pharmaceuticals, medical creams, gels, and ointments necessitate stringent packaging standards to ensure product integrity and consumer safety.
- Squeeze tubes segment has garnered immense popularity due to their ease of use and adaptability across a wide range of products. These tubes are commonly used for packaging personal care products, such as lotions, creams, gels, and ointments.
Recent Developments Related to Tube Packaging Market
- Neopac, a leading global provider of high-quality tube packaging, has launched a revolutionary series of tube caps made from recycled high-density polyethylene (rHDPE) with impressively high post-consumer recycled (PCR) rates.
- In a groundbreaking move towards sustainability, global renewable materials company Stora Enso has revealed its latest innovation: a revolutionary sustainable paperboard tube, set to transform the packaging industry and contribute to a greener future.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Tube Packaging Market, By Material
8.1 Plastic
8.2 Aluminium
8.3 Laminate
8.4 Others
9. Tube Packaging Market By Product Type
9.1 Squeeze Tubes
9.2 Twist Tubes
9.3 Collapsible Tubes
10. Tube Packaging Market, By Application
10.1 Healthcare
10.2 Personal Care
10.3 Food
10.4 Pharmaceuticals
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East & Africa
11.5.1 Middle East
11.6 Latin America
12 Company profile
12.1 Hoffman Neopac AG
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Montebello Packaging
12.3 Sonoco Products Company
12.4 Essel Propack Limited
12.5 Romaco Group
12.6 ALBEA
12.7 Huhtamaki OYJ
12.8 Patterson Pump Company
12.9 Cobey Inc
12.10 VisiPak
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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