The report “Tube packaging Market by Type (Laminated, aluminum, plastic), Application (Oral care, cosmetics, pharmaceuticals, food & beverage, cleaning products), & Region (North America, Europe, APAC, Middle East, and South America) – Global Forecast to 2026″, size is expected to grow from USD 11.7 billion in 2021 to USD 14.3 billion by 2026, at a CAGR of 4.2% during the forecast period. The growth is due to the rising need for oral care and cosmetics applications all over the world. Additionally, tubes are lightweight and can be effortlessly shipped as they occupy less space. They offer benefits such as protection, compactness, convenience, reliability, and cost-effectiveness. The growth of the global flexible packaging industry is driving the tube packaging market.
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• 214 Market data Tables
• 37 Figures
• 199 Pages and in-depth TOC on “Tube Packaging Market – Global Forecast to 2026″
Some of the prominent key players are:
· Amcor (Switzerland)
· Albea Group (France)
· Essel Propack Limited (India)
· Hoffman Neopack AG (Switzerland)
· Huhtamaki Oyj (Finland)
Opportunity: Increase in the demand for new and accessible packaging
The increase in the demand for innovative packaging owing to the increase in income levels offers an opportunity to the tube packaging market. Developing economies are seeing huge growth in the middle-class population. This will lead to in an increase in the demand for convenient and safe packaging. High-tech innovations in the packaging industry have caused in the transformation of rigid packaging to flexible packaging. New developments in the packaging industry, such as barrier properties, intelligent packaging, digital printing, recyclable packaging, and lightweight packaging, add value to the packaging industry. Tubes are widely used in the cosmetics & toiletries segment; hence, the growth in this sector will provide a huge opportunity to the tube packaging market.
The cosmetics segment is likely to be the fastest-growing application in the Tube packaging market during the projected period.
Cosmetics is the speediest-expanding application segment in the Tube packaging market. Enhanced standards of living, coupled with the increasing disposable income of the working middle-class population in developing economies, is likely to push the market in the cosmetics segment. It accounted for a share of about 20.3% of the Tube packaging market, in terms of value, in 2021.
APAC is expected to hold the largest market share in the global tube packaging market due to the growth of emerging economies such as China and India during the forecast period.
APAC accounted for the largest share of the Tube packaging market in 2021. The market in the region is growing because of the increase in demand for small and innovative packs for cosmetics and oral care applications in this region.
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