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Global Tube Packaging Market (2021 to 2026) - Emergence of Paper-Based Tube Packaging Presents Opportunities - ResearchAndMarkets.com

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The "Global 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) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global tube packaging market is estimated to be USD 9.5 billion in 2021 and is projected to reach USD 13.0 billion by 2026, at a CAGR of 6.6% from 2021 to 2026.

The growth is due to the growing demand from oral care and cosmetics application throughout the world. Furthermore, tubes are lightweight and can be easily transported as they occupy less space. They provide benefits such as protection, compactness, convenience, reliability, and cost-effectiveness. The growth of global flexible packaging industry is driving the tube packaging market.

Laminated tube is expected to be the fastest growing type in the tube packaging market during the forecast period

Laminated tube is the fastest-growing type segment in the tube packaging market. This segment is witnessing growth due to the advantages of laminated tubes such as ease of portability & handling, shape retention, and flexibility. It accounted for a share of about 48.5% of the tube packaging market, in terms of value, in 2020.

Cosmetics is expected to be the fastest growing application in the tube packaging market during the forecast period

Cosmetics is the fastest-growing application segment in the tube packaging market. Improved standards of living, coupled with the rising disposable income of the working middle-class population in emerging economies, is expected to propel 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 2020.

APAC is the largest market for tube packaging

APAC is the largest and market of tube packaging, with China being the major emerging market. 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. China had the highest consumption of tube packaging. It accounted for a share of about 39.0% of the tube packaging market, in terms of value, in 2020.

Market Dynamics

Drivers

  • Growth in the Flexible Packaging Industry

  • Demand for Excellent Barrier Properties in Packaging Materials

  • Advancements in Packaging Technology

Restraints

  • Stringent Government Regulations

Opportunities

  • Growth of Bioplastic-Based Packaging

  • Emergence of Paper-Based Tube Packaging

  • Increase in the Demand for Innovative and Convenience Packaging

Challenges

  • Availability of Substitutes

  • Recyclability of Plastic

Companies Mentioned

  • 3D Technopack Limited

  • Albea

  • ALLTUB Group

  • Amcor plc

  • Auber Packaging Solutions

  • Berry Global Inc.

  • BRK Packwell Private Limited

  • CCL Industries

  • Constantia Flexibles Inc.

  • CTL-TH Packaging

  • Essel Propack Limited

  • HCT Group

  • Hoffmann Neopac AG

  • Huhtamaki Oyj

  • IntraPac International Cooperation

  • Lageen Tubes

  • M&H Plastics

  • Montebello Packaging

  • Romaco Group

  • Sonoco Products Company

  • Unette Corporation

  • Unicep Packaging

  • VisiPak

  • Viva Group

  • Worldwide Packaging Inc

For more information about this report visit https://www.researchandmarkets.com/r/149zak

View source version on businesswire.com: https://www.businesswire.com/news/home/20210528005149/en/

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