NEWARK, Del, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Predicted to develop steadily, the global packaging tubes market is expected to reach USD 6.64 billion by 2034, from an anticipated USD 4.74 billion in 2024. This indicates that throughout the projected period of 2024 to 2034, the compound annual growth rate (CAGR) will be 3.4%. With an anticipated 2.5% annual growth rate in 2024, the market's revenue in 2023 was estimated at USD 4.62 billion.
The demand for packaging tubes is experiencing robust growth, fueled by their versatility, convenience, and eco-friendly attributes. Packaging tubes, widely used across industries such as cosmetics, pharmaceuticals, and food, offer an efficient and attractive solution for both liquid and semi-solid products. Their ability to provide excellent protection, maintain product integrity, and offer extended shelf life makes them a preferred choice for manufacturers and consumers alike.
In the cosmetics industry, the demand for packaging tubes is driven by the increasing popularity of creams, lotions, and gels, where precise application and portability are key. The pharmaceutical sector also contributes to the growth, with packaging tubes being ideal for ointments, gels, and creams that require controlled dosing and airtight sealing. Additionally, the food industry sees a rising demand for tubes, especially for products like condiments, pastes, and sauces, which benefit from easy dispensing and minimal waste.
Sustainability is another significant factor boosting demand, as consumers and brands shift towards eco-friendly packaging solutions. Tubes made from recyclable and biodegradable materials are increasingly favored, aligning with global trends towards reducing plastic waste and embracing sustainable practices. This growing demand positions packaging tubes as a critical component in the evolving landscape of modern packaging solutions.
How Will The Growing Application Of Tube Packaging In The Pharmaceutical Industry Drive The Packaging Tubes Market Growth?
Increased competition between large multinational brands and local players led to the innovation in marketing strategies. Several new entrants in the pharmaceutical market also contributed to this intensified competition. The above-mentioned factors led to the solution for embracing the tube packaging format for pharmaceutical products.
The penetration of tubes in the pharmaceutical segment has shown lucrative growth globally. The ageing population and shift from hospital care to home care or inpatients to outpatients led to the increasing demand for a sophisticated and high barrier packaging film solution for pharmaceuticals.
Laminated tubes provide high barrier protection for pharmaceutical contents packaged in the tube. The packaging tubes are used for several pharmaceutical products that are in cream, ointment or other high viscosity formats. The growing adoption of tubes for pharmaceutical packaging is anticipated to drive the demand for packaging tubes in the market.
What Is the Impact of COVID-19 Pandemic On The Global Packaging Tubes Market?
The negative repercussions of the COVID-19 pandemic were moderate on the packaging tubes market compared to other industries. The significant application of packaging tubes in the cosmetics industry resulted in reducing the demand for the target product in the market.
However, the use of packaging tubes for pharmaceutical and food end-uses dampened the blow of the pandemic on the target market. Furthermore, the efforts of tube manufacturers like Ctl-Th Packaging SI and Albea SA among others in developing and supplying tubes for sanitizer packaging also contributed to dampening the impact of the pandemic on the packaging tubes market.
Key Takeaways
- Steady Market Growth: The packaging tubes industry is projected to grow at a CAGR of 3.4% from 2024 to 2034.
- Expanding Market Value: The industry's global market value is expected to increase from USD 4,623.9 million in 2023 to USD 6,640 million by the end of 2034.
- South Asia Leading Growth: South Asia is expected to showcase the highest growth, with a projected CAGR of 5.2% during the forecast period.
- Key Industry Players: Major companies driving the industry include EPL Limited, Berry Global Group, Inc., Albéa Group, CCL Industries Inc., and Huhtamaki Oyj.
- Increasing Demand: The industry's growth reflects rising demand across sectors like cosmetics, pharmaceuticals, and personal care.
- Innovation & Sustainability: The focus on sustainable and innovative packaging solutions will shape the industry's future, influencing market dynamics and consumer preferences.
Key Drivers and Market Dynamics
- Dominance of Laminated Tubes in the Cosmetics Industry Laminated tubes are the preferred choice in the cosmetics and beauty products industry, accounting for 56.3% of the total market share. Their superior barrier properties offer protection against environmental factors such as UV rays, moisture, and oxygen, making them ideal for skincare and hair care products like lotions, creams, conditioners, and shampoos. The aesthetic appeal of shiny tubes with metallic effects, intricate designs, and matte or glossy finishes further enhances their demand in the cosmetics sector.
- Rising Popularity of Beauty and Personal Care Products The global beauty and personal care products market is witnessing rapid growth, driven by increasing consumer awareness of product quality and brand value. According to the Personal Care Products Council (PCPC), the personal care industry significantly contributed $2.6 billion to the U.S. economy in 2022. This surge in demand for high-quality cosmetic products is driving the sales of packaging tubes, especially laminated tubes, which provide the necessary protection and extend the shelf life of products.
- Consumer Awareness for Hygienic Packaging Solutions As consumers become more conscious of the safety and effectiveness of packaging, there is a growing demand for hygienic packaging solutions in industries such as cosmetics, personal care, healthcare, and pharmaceuticals. Packaging tubes offer an ideal solution for liquid and semi-liquid products, ensuring protection from microbial and fungal contamination. The secure seals and protective barriers of tubes help preserve the integrity of products, reducing the risk of adverse skin reactions and infections.
The rising demand for hygienic and visually appealing packaging solutions in the cosmetics and personal care industry is driving growth in the packaging tubes market, with laminated tubes offering superior protection and aesthetic appeal. Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/packaging-tubes-market
Competitive Environment
Leading companies in the packaging tube sector are creating and introducing new goods to the market. They are expanding their geographic reach and merging with other companies. Few of them are also working together to develop new products in partnerships with start-up businesses and regional brands.
Key Players in the Packaging Tubes Market
- CCL Industries, Inc.
- Albea Group
- EPL Limited
- Berry Global Group, Inc.
- Montebello Packaging
- Plastube Inc.
- Pack-Tubes
- ALLTUB GROUP
- Antilla Propack
- CTLpack
- TUBOPRESS ITALIA SRL
- LINHARDT Group
- Hoffmann Neopac AG
- Perfektüp Ambalaj
- Huhtamaki Oyj
- Lajovic Tuba d.o.o.
- Tubapack, a.s.
- Pirlo Holding GmbH
- Norway Pack AS
Packaging Tubes Market Segmentation
By Product Type:
In terms of product type, the industry is divided into aluminum tubes, laminated tubes and plastic co-extrusion tubes. The aluminum barrier laminated (ABL) tubes is further divided into aluminum foil and plastic barrier laminated (PBL) tubes into ethylene vinyl alcohol (EVOH) and polyester (PET).
By Capacity:
In terms of capacity, the industry is divided into less than 50 ml, 51 to 100 ml, 101 to 150 ml and Above 150 ml.
By End Use:
Some of end use industries related to packaging tubes market include cosmetics, oral care, commercial & industrial, pharmaceuticals, home and other personal care, food and others. The others segment is further sub-categorized into paints, crayons and shoe polish.
By Region:
Key countries of North America, Latin America, East Asia, South Asia, Europe, Oceania, Middle East and Africa are covered.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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