Tube packaging plays a key role in protecting, distinguishing and enhancing products for several end-use industries including personal care, healthcare, food and beverages and more. The adoption of eco-friendly materials is gaining popularity owing to rising sustainability concerns. Tube packaging offers excellent barrier properties and helps preserve freshness while preventing contamination of sensitive products such as pharmaceuticals, creams and gels.
The global tube packaging market is estimated to be valued at US$ 10585.97 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends
Sustainable materials: One of the key trends accelerating growth in the tube packaging market is the increasing shift towards sustainable packaging materials. Major brands and manufacturers are focusing on developing eco-friendly tubes made from renewable and recyclable materials like paper, aluminum and bioplastics to reduce plastic waste. The widespread demand for sustainable packaging from consumers has compelled companies to offer innovative green tube solutions. For instance, flexible plastic tubes are now being replaced by paper tubes or tubes made using renewable raw materials like corn or sugarcane that are both recyclable and compostable. This trend is expected to significantly drive the market over the forecast period.
Segment Analysis
Tube packaging is segmented into laminated, aluminum, and pvc/pe segment. The laminated tubes segment dominates the market, accounting for over 35% of the total share. This is because laminated tubes provides high barrier properties against moisture and oxygen, while also being lightweight. Laminated tubes are highly suitable for long shelf-life packaging of various personal care and food products.
Key Takeaways
The global tube packaging market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis shows that Asia Pacific region currently dominates the market and is expected to grow at the fastest rate during the forecast period. This is due to rapid growth of end use industries like pharmaceuticals and personal care in countries like India and China.
Regional analysis
The Asia Pacific region holds the major share of the global tube packaging market, accounting for over 40% share in 2023. Rapid growth of middle class population and rising disposable incomes in emerging countries of the region such as India and China is driving the demand for packaged consumer goods. This is positively impacting the growth of the tube packaging market in Asia Pacific. Furthermore, presence of key global end use industries in the region is contributing to its leading position. The region is expected to witness highest CAGR over the forecast period owing to continued growth of end use industries.
Key players
Key players operating in the tube packaging market are Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group. Amcor Limited specializes in flexible and rigid packaging and is one of the largest players in the global packaging market. Berry Plastics engages in manufacturing and distribution of engineered materials, non-woven specialty materials and consumer packaging products. Mondi Group provides innovative and sustainable packaging and paper solutions.
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