Packaging Tube Market Research, 2031
The global packaging tube market size was valued at $9.8 billion in 2021, and is projected to reach $17.9 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031. A packaging tube is basically a round or oval cylindrical hollow object made of plastic, cardboard, aluminum or other metal. Packaging tubes, also known as collapsible tubes or squeeze tubes, are used for viscous substances such as toothpaste, paints, adhesives, sealants, and ointments. The key driver for the market is anticipated to be the rising demand for these types of packaging from application industries like cosmetics & personal care, healthcare, and food. A driving force behind the expansion of the personal care industry is anticipated to be rising consumer awareness of personal health and wellness. Personal care product consumption is increasing as a result of rising self-consciousness, which will also increase demand for tube packaging options. Due to consumer buying power, the U.S. is one of the major markets in the worldwide beauty and personal care business.
Owing to shifts in consumer preferences for organic products, there is packaging tube market growth for organic personal care products in the nation. Since organic products are typically offered in tiny quantities and at a premium price, tube packaging will continue to be in demand since it allows for accurate and effective dispensing.
Price fluctuations for raw materials, such as plastics, aluminum, and other laminates, are anticipated to pose difficulties for market expansion. Polyethylene, polyethylene terephthalate, and polypropylene make up the majority of plastic materials. These polymers' costs are significantly correlated with unpredictable crude oil prices. Furthermore, throughout the course of the forecast period, it is anticipated that increasing environmental concerns and strict government regulations surrounding the use of plastic and its disposal will restrain packaging tube market share growth.
Furthermore, during the outbreak of the COVID-19 pandemic, the construction, manufacturing, hotel, and tourism industries were majorly affected manufacturing activities were halted or restricted. Manufacturing and transportation activities, along with their supply chains, were hampered on a global level. This led to a decline in the manufacturing of packaging tubes as well as their demand in the market, thereby restraining the growth of the packaging tube market. Conversely, industries are gradually resuming their manufacturing and services. This is expected to lead to the re-initiation of the packaging tube industry at its full-scale capacities, which helped the market to recover by end of 2021.
Increased restrictions on the use of plastic are anticipated to open up markets for cutting-edge materials including bioplastics, aluminum, and other materials. Most renewable energy sources, including maize starch, sugarcane, chips, tapioca roots, and other starches, are used to produce plastics like polylactic acid. The most popular bioplastic in use today is polylactic acid. The primary variables influencing demand for bioplastics around the world are biodegradability, recyclability, and non-toxicity. Such instances are expected to offer opportunities for the packaging tube market forecast period.
The market is segmented into Product, Type and Application.Based on product type, the market is divided into squeeze & collapsible and twist. Based on material, the market is divided into plastic, and aluminum. Based on application, the market is divided into food & beverage, personal & oral care, pharmaceutical and cleaning products. Region wise, the global packaging tube market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
On the basis of product type, in 2021, the squeeze and collapsible segment dominated the packaging tube market, in terms of revenue, whereas the twist segment is expected to witness growth at the highest CAGR during the forecast period. As per material, in 2021, the plastic segment led the packaging tube, in terms of revenue, however, the aluminum segment is expected to exhibit highest CAGR in the near future. By application, the personal and oral care segment led the market in 2021, in terms of revenue; however, the pharmaceutical segment is anticipated to register highest CAGR during the forecast period. Region wise, Asia-Pacific garnered the highest revenue in 2021; and is anticipated to register highest CAGR during the forecast period.
The major players profiled in the packaging tube market include Albea S.A., Amcor Limited, Essel Propack Limited, Sonoco Products Company, World Wide Packaging Inc., Montebello Packaging Inc., VisiPak, Inc., Intrapac International Corporation, CCL Industries Inc., and Hoffman Neopack AG. Major companies in the market have adopted acquisition, partnership and business expansion as their key developmental strategies to offer better products and services to customers in the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the packaging tube market analysis from 2021 to 2031 to identify the prevailing packaging tube market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the packaging tube market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global packaging tube market trends, key players, market segments, application areas, and market growth strategies.
Packaging Tube Market Report Highlights
Market Size By 2031
USD 17.9 billion
CAGR of 6.1%
2021 - 2031
Key Market Players
Amcor Plc, Essel propack Limited, World Wide Packaging Inc., Sonoco Products Company, CCL Industries Inc., VisiPak, Inc., Albea Group S.A.S., Precision Concepts International, Montebello Packaging Inc., Hoffman Neopack AG
The global hydraulic breaker market witnessed a huge demand in Asia-Pacific followed by Europe & North America. The Asia-Pacific is attributed to exhibiting the highest CAGR during the forecast period.
Packaging tube has applications in industries like cosmetics & personal care, healthcare, and food. A driving force behind the expansion of the personal care industry is anticipated to be rising consumer awareness of personal health and wellness. Industry expansion for flexible packaging in countries such as China, India, Russia, Saudi Arabia, and Brazil with emerging markets for packaging tubing and are expected to witness fast growth during the forecast period. Packaging tube materials have witnessed significant recycling rates and many governments and industry players have formulated plans to tackle plastic waste by recycling. Fluctuating raw material prices and the unavailability of certain raw materials in certain regions constitute higher costs for packaging tube manufacturers. Therefore, this factor is expected to restrain market growth. Flexible packaging has replaced rigid packaging as a result of high-tech advances in the packaging sector. The packaging sector has undergone recent innovations, including barrier properties, intelligent packaging, and digital printing. This in turn is expected to offer lots of opportunities during the forecast period.
The major players profiled in the packaging tube market include Albea S.A., Amcor Limited, Essel Propack Limited, Sonoco Products Company, World Wide Packaging Inc., Montebello Packaging Inc., VisiPak, Inc., Intrapac International Corporation, CCL Industries Inc., and Hoffman Neopack AG.