by 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 tubes made from materials such as plastic, aluminum and paper for various consumer and industrial products. Tube packaging offers key advantages over other packaging formats including superior product protection, ease of use and handling, leak and tamper proof closure and lower material usage. They are lightweight and efficient in terms of material and cost. Tube packaging is commonly used for beauty and personal care products like lipsticks, mascaras, toothpastes; food products like sauces, condiments; pharmaceutical products and more.
Market key trends:
One of the key trends gaining traction in the tube packaging market is the increasing demand for sustainable and eco-friendly packaging solutions. Driven by rising environmental concerns and stringent regulations, brands are focusing on reducing plastic waste and using renewable and recyclable packaging materials. Tubes made from paper, aluminum and bio-based plastics are witnessing higher preference. Additionally, the market players are introducing lightweight tube designs, customized solutions and mono-material tubes for improved recyclability. There is also a rise in demand for specialized tube packaging with added features like customized shapes, prints, child-proof caps and multidosing mechanisms to enhance product appeal and usage convenience.
Porter’s Analysis:
- Threat of new entrants: The threat of new entrants is moderate as the tube packaging market requires high initial investments and established distribution channels.
- Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitute products. Buyers can switch between tube packaging and other flexible packaging easily.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material providers have a dominance over tube packaging manufacturers.
- Threat of new substitutes: The threat of new substitutes is high as flexible packaging products like pouches, bags, and sachets are serving as alternatives to tube packaging.
- Competitive rivalry: The competitive rivalry is high due to the presence of numerous global and regional players.
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 the cosmetics industry. The cosmetics industry widely uses tubes for products like lipsticks, eye shadows, body lotions etc.
Regional analysis: North America dominated the global tube packaging market in 2023, accounting for over 30% of the global market share. Growing consumption of personal care and cosmetic products drives the demand for tube packaging in North America. Asia Pacific is expected to be the fastest growing market during the forecast period owing to rising disposable income and changing lifestyles in emerging economies like India and China.
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. These key players are focusing on new product launches and mergers & acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
