As stated by a new report, the global tube packaging market is set to grow at a compound annual growth rate (CAGR) of 8.5% between 2017 and 2026. The tube packaging Market is expected to reach to USD 14.12 billion by the end of 2026. The market growth is anticipated to be primarily driven by the advancement in the packaging technology. Tube packaging has no germs due to the high temperatures during the production process which is another reason for boost in the global tube packaging market.
In addition, demand for amazing barrier properties and surge in the cosmetics and toiletries industry are anticipated to increase the market size of tube packaging during the forecasted period. The manufacturers use tube packaging to pack the face creams and toothpastes for the convenience of mass consumers. Additionally, growing demand for convenient packaging especially in the pharmaceutical industry so that occurrence of microbial can be avoided will increase the growth of tube packaging over the forecast period
The benefits offered by tube packaging are among the factors expanding the global market size. The use of tubes as a packaging material is useful to improve the shelf life of the material which in turn increasing the demand for the product. Growing preferences among end-users for the innovative and attractive packaging is urging the manufacturers to come up with unique packaging designs which ultimately will grow the market in the near future.
Some of the key players profiled in the Tube Packaging market include D Technopack Ltd, Worldwide Packaging Inc, Visipak, Unicep Packaging, Huhtamaki OYJ, Sonoco Packaging Company, Montebello Packaging, M&H Plastics, Intrapac International Corporation, Auber Packaging Solutions, Hoffmann Neopac AG, Essel Propack Ltd, Alltube Group, Ctl Packaging, Constantia Flexibles, CCL Packaging, Albea Group, Amcor Ltd, Unette Corporation and Viva Group.
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Global Tube Packaging Market: Segmental Analysis
The segmental analysis of the market has been conducted based on type, application and region. By type, the market has been divided into Twist Tubes, Squeeze Tubes, Rigid tubes and Extruded tubes. Based on application, the market has been segmented into Shaving Cream, Toothpastes, Sealant, Ointments, Adhesives, Consumer Goods and other applications.
Global Tube Packaging Market: Regional Analysis
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Rest of the World. In North America, countries like the US and Canada are covered while in Europe, countries such as the UK and Germany are included. In APAC, countries such as Japan, China and India are covered. In Latin America, countries such as Brazil and Mexico are covered. In terms of revenue, Europe is expected to hold the largest market share during the forecast period which is mainly due to large-scale use healthcare and toiletry products in the region. Meanwhile, APAC is also growing at a huge pace due to increase in income level. The countries like China, India, and Japan occupies a significant market share which is attributed due to increase in increasing income and changing lifestyle, which are expected to fuel the demand for easy and safe packaging.
Global Tube Packaging Market: Industry News
There are many companies across the world that is using tube packaging for goods produced. The global industry is expected to witness steep growth; particularly the healthcare industry will hold a significant market share in the coming years as more companies are using safe and secured packaging options for their products. Also partnerships and agreements among the leading conglomerates will leave a positive impact on the market.
Table of Content
1 Executive Summary 2 Preface 3 Market Trend Analysis 4 Porters Five Force Analysis 5 Global Tube Packaging Market, By Material Type 6 Global Tube Packaging Market, By Type 7 Global Tube Packaging Market, By Application 8 Global Tube Packaging Market, By End User 9 Global Tube Packaging Market, By Geography 10 Key Developments 11 Company Profiling
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