ID: MRFR/PNT/1244-CR | 117 Pages | Published By Varsha More on October 2020
The Tube Packaging Market Size was valued at USD 12.22 Billion in 2022. The Tube Packaging industry is projected to grow from USD 12.74 Billion in 2023 to USD 16.38 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.73% during the forecast period (2023 - 2030). One of the first methods of storing condiments or thick liquids such as toothpaste, paints, adhesives, ointments, culinary sauces, and cosmetics was in tubes. They have been used throughout the history of packaging, and because of their appealing qualities, the market is predicted to expand. Tube packaging is more practical, increases the shelf life of the contents, is flexible, allows for accurate product distribution, and offers extra protection from microbes, air, or sunlight. As consumers become more aware of the need of being sanitary in every aspect, tube packaging has grown significantly in popularity in the flexible packaging industry over time.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Tube packaging is a type of packaging that is commonly used for products such as cosmetics, pharmaceuticals, food products, and industrial goods. It consists of a cylindrical tube made of materials such as plastic, aluminum, or paperboard, and it can be customized with various printing and labeling options. Now, regarding the millennial population, they are a large and influential demographic group that currently makes up a significant portion of the global population. As a result, they have significant purchasing power and are known to be interested in products that are sustainable, convenient, and visually appealing. This could potentially drive demand for products that are packaged in tube packaging, especially if those products align with the values and preferences of this demographic.
However, it's also important to consider that the growth of the market is influenced by many other factors, such as the overall demand for the products that are packaged in tubes, the availability and cost of materials, advancements in packaging technology, and the regulatory environment. Therefore, while the growing millennial population may contribute to the growth of the tube packaging market, it's unlikely to be the only factor driving that growth.
The market segmentation, based on Material, includes Laminate, Plastic, Aluminum, and Others. The Laminate segment holds the majority share in 2022, contributing to the global Tube Packaging revenue. Due to the popularity of laminates, which combine the benefits of both metal and plastic and shield objects from deterioration.
Based on Product, the market segmentation includes Squeeze tubes, Twist tubes, and Others. The Squeeze tubes segment dominated the market. due to increased product penetration in end-user sectors including healthcare and personal care & oral care. The most often used product is the plastic squeeze kind since it is portable, durable, and leak-proof. The laminated and aluminum collapsible kinds are mostly used in healthcare and dental care applications. Collapsible tubes are more suited for the packing of lotions and ointments since they do not restore their normal shape when the pressure is removed.
Based on Application, the market segmentation includes Personal care, Pharmaceuticals, Food, Consumer goods, and Others. The Personal care segment is the largest segment of the market. The category is anticipated to rise due to rising chemical-free, organic product demand and rising health and well-being consciousness. It is anticipated that the growing elderly population, particularly in Europe and North America, would raise demand for cosmetics with anti-aging qualities.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America has dominated the market revenue share and is expected to continue the leading position in the forecast period. As there is growth in the production of cosmetics in Asian countries, we can positively expect a rise in the market size in Asian countries. Growth in the population also plays a major role in driving the demand for the market, hence countries such as India, China, and South Korea are emerging as production hubs of tube packaging in the global markets.
European countries are innovative in bringing novel techniques into the packaging industries hence driving the market. They have recently produced biodegradable and renewable packaging methods as an alternative to plastic materials.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Tube Packaging industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Tube Packaging industry to benefit customers and expand the market sector. Major market players, including Runlab Labware Manufacturing Co Ltd, Goodway Technologies Corporation, Rakhoh Industries Pvt Ltd, BASCO Inc, Cobey Inc, and others, are attempting to increase market demand by funding R&D initiatives.
Goodway Technologies Corporation is a manufacturing company that specializes in the design, engineering, and production of industrial maintenance equipment for a variety of industries. The company offers a wide range of products for industrial maintenance, including tube-cleaning equipment, industrial vacuums, air duct cleaning systems, descaling systems, and surface sanitation equipment. Their products are designed to be effective, efficient, and easy to use. They also offer custom solutions to meet specific customer needs.
BASCO Inc. is a company that specializes in industrial packaging and shipping supplies. The company offers a wide range of products for industrial packaging and shipping, including drums, barrels, pails, containers, bottles, and boxes. They also provide accessories and equipment, such as pumps, mixers, and pallets. Their products are designed to meet various industry needs, including hazardous material transportation, food-grade storage, and general shipping. It serves a variety of industries, including chemicals, pharmaceuticals, food and beverage, and automotive. Their customers include businesses of all sizes, from small startups to large corporations.
Rest of the World
|Market Size 2022||USD 12.22 Billion|
|Market Size 2023||USD 12.74 Billion|
|Market Size 2030||USD 16.38 Billion|
|Compound Annual Growth Rate (CAGR)||6.73% (2023-2030)|
|Market Forecast Period||2023-2030|
|Historical Data||2018 & 2022|
|Market Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Product, Application, End-User, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, and Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||Runlab Labware Manufacturing Co Ltd, Goodway Technologies Corporation, Rakhoh Industries Pvt Ltd, BASCO Inc, Cobey Inc, Oy Nordic AC Ltd, Jiaxing Jinyi Solar Energy Technology Co Ltd, Sebatibogogo Cylinders & Welding Supply Inc, Patterson Pump Company, Columbia Analytical Instruments Inc|
|Key Market Opportunities||Innovation In Packaging|
|Key Market Dynamics||Growth In Pharmaceutical Industry Increase In Demand From Cosmetic Industry|
The Tube Packaging Market size was valued at USD 12.22 Billion in 2022.
The global market is projected to grow at a CAGR of 6.73% during the forecast period, 2023-2030.
North America had the largest share of the Tube Packaging Market.
The key players in the market are Runlab Labware Manufacturing Co Ltd, Goodway Technologies Corporation, Rakhoh Industries Pvt Ltd, BASCO Inc, Cobey Inc, Oy Nordic AC Ltd, Jiaxing Jinyi Solar Energy Technology Co Ltd, Sebatibogogo Cylinders & Welding Supply Inc, Patterson Pump Company, Columbia Analytical Instruments Inc.
The Laminate category dominated the market in 2022.
The Personal care segment had the largest share of the global market for Tube Packaging.