Rockville, MD, Dec. 27, 2022 (GLOBE NEWSWIRE) -- According to a recently published research report by Fact.MR, a provider of market research and competitive intelligence, the global tube packaging market is set to reach US$ 15.6 billion by 2033-end. Demand for tube packaging solutions is likely to advance at a CAGR of 4.5% through 2033.
Increasing prevalence of various small-sized packets in the personal care industry is projected to serve as one of the vital factors driving market growth. In addition, technological advancements that are taking place in the packaging industry are also predicted to push growth opportunities in the market. Rising use of these packaging solutions across different end-use industries is likely to bolster the sales of tube packaging solutions. Furthermore, concerns about convenience and hygiene packaging solutions are also expected to drive market growth opportunities.
The healthcare industry is using tube packaging solutions at an increased rate due to their ability to ensure optimal packaging conditions for a prolonged shelf life of products. So, the easy dispensability and ease of applicability are estimated to contribute to increasing product demand for healthcare applications. Growing healthcare spending by people around the world is predicted to bolster the pharmaceutical industry which further drives the respective market growth.
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Europe is a regional market that is expected to grow at a noticeable speed and hold a significant share of the global market. This is owing to the increased adoption of various tube packaging solutions in the cosmetic and oral care sectors in the region.
Key Takeaways from Market Study
- Sales of tube packaging solutions are anticipated to reach US$ 15.6 billion by 2033-end.
- The market in Canada is projected to advance at a moderate CAGR of 4.7%.
- The value of the global tube packaging industry is US$ 10 billion in 2023.
- The market is expected to progress at a CAGR of 4.5% through 2033.
- Demand for tube packaging services in Germany is estimated to increase at a CAGR of 2.2% through 2033.
“Rising use of anti-aging, sunblock, and anti-tan creams by middle-aged people is estimated to create high demand for personal care products and thus drive the sales of tube packaging solutions,” says a Fact.MR analyst.
Segmentation of Tube Packaging Industry Research
- By Type:
- Squeeze & Collapsible Tubes
- Twist Tubes
- By Application:
- Cosmetics & Oral Care
- Healthcare
- Food & Beverages
- Cleaning Products
- Others
- By Material:
- Laminated
- Plastic
- Aluminum
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Winning Strategy
Growing consumer awareness about personal health and wellness is anticipated to stimulate growth opportunities in the personal care market. People are becoming conscious about personal appearance which is further augmenting demand for various personal care products and thus bolstering sales of tube packaging solutions.
Key players in the tube packaging market are incorporating various growth strategies such as mergers and acquisitions to gain a competitive edge in the industry.
Competitive Landscape
For instance,
- Tubes Holdings is a provider of plastic tubes, aluminum cartridges, aluminum tubes, and aluminum aerosol cans for different industries including cosmetics, food, pharma, and technology. In April 2022, the company acquired Matrametal which is a specialist in aluminum tubes and aerosol cans. This acquisition will result in seven production sites across the world that will increase their production capacity to meet the rising demand for solutions for tube packaging.
Key Companies Profiled
- 3D Technopack SARL
- Worldwide Packaging Inc.
- Albea Group
- Unicep Packaging, LLC
- Essel Propack Limited
- Sonoco Packaging Company
- M&H Plastics
- Hoffmann Neopac AG
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global tube packaging market for the period of 2023-2033.
The study divulges essential insights into the market on the basis of type (squeeze & collapsible tubes, twist tubes), end use (cosmetics & oral care, healthcare, food & beverages, cleaning products, others), and material (laminated, plastic, aluminum, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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