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Tube Packaging Market Size, Share, Current Trends, Industry Demand, Regional Outlook And Forecast To 2023

07.28.2020 · Posted in Writing and Speaking

Summary

Global Tube Packaging Market by Materials (laminate, plastic, aluminum, and others), by Product (squeeze tubes, twist tubes, and others), Application (personal care, pharmaceuticals, food, consumer goods and others) and Region – forecast 2017-2023

Tube Packaging Market Overview

The thriving personal care industry coupled with the increasing demand for cosmetics is likely to drive the proliferation of the tube packaging market over the assessment period.

The global tube packaging market is set to expand at a CAGR of 5.79% during the forecast period 2017 to 2023. The value of the global market is estimated to reach USD 8,297.7 Mn by the end of 2023.

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Key Players 

Key players operating in the global tube packaging market are

  • Amcor Ltd. (Australia)
  • Albea Group (Luxembourg)
  • CCL Industries (Canada)
  • Sonoco Products Company (U.S.)
  • Sinclair & Rush, Inc. (U.S.)
  • Essel Propack Ltd (India)
  • Huhtamaki (Finland)
  • Montebello Packaging (Canada)
  • World Wide Packaging LLC (U.S.)
  • Unette Corporation (U.S.).

Industry News

In August 2018, Kite Packaging Group Ltd. has announced the launch of triangular postal tubes.

Market Segmentation

By material, the global Tube Packaging Market has been segmented into laminate, plastic, aluminum, and others.

By product, the tube packaging market is segmented into Squeeze tubes, Twist tubes, and others.

By application, the global tube packaging market has been segmented into personal care, pharmaceuticals, food, consumer goods, and others.

Growth in the Pharmaceutical Industry

Increasing demand from the pharmaceutical industry have been increasing overall growth in the tube packaging market. The pharmaceutical packaging plays a major role in reducing disease level by protecting the drugs from direct light, moisture, and damage while handling or storing.

Regional Analysis

The global tube packaging market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is expected to witnessess significant growth during the forecast period.The increasing demand for sustainable packaging is propelling the expansion of the regional tube packaging market. The trend is forecasted to continue in the foreseeable future.

Asia Pacific is the fastest growing market for tube packaging globally. The growth can be ascribed to the changing consumer behavior pattern that demands convenient packaging. Innovation is the key area of focus for the key manufacturers in the region and endeavors are directed towards innovating product offerings. This, in turn, is expected to augment the tube packaging market in the region. Other factors that are complementing the proliferation of the regional market are changing lifestyle, increasing purchasing power, expansion of the personal care industry, etc.

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