PUBLISHER: Allied Market Research | PRODUCT CODE: 1193402
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193402
The global packaging tube market was valued at $9,786.7 million in 2021, and is projected to reach $17,856.09 million by 2031, registering a CAGR of 6.1% from 2022 to 2031. The collapsible tube known as a packaging tube, or squeeze tube is used to package viscous substances like toothpaste, artist's paint, glue, caulk, and ointments. A tube is essentially a cylindrical, hollow object made of plastic, paperboard, aluminum, or another metal with a round or oval form. Rise in consumer awareness of personal health and wellness is projected to be a major factor in the expansion of the personal care sector. There is a growth in the consumption of personal care products, due to growing self-consciousness, which will lead to an increase in the demand for tube packaging. The U.S. is one of the key markets in the global beauty and personal care industry because of consumer purchasing power. Moreover, increased demand for these types of packaging from application industries like cosmetics & personal care, healthcare, and food is predicted to be the main driver of the market.
The market for organic personal care products is expanding across the country as consumer tastes for organic goods change. Since tube packing enables precise and efficient dispensing and organic products are often sold in small amounts and at a premium price, it will continue to be in demand.
Changes in the price of raw materials including plastics, aluminum, and other materials is projected to make it difficult for expansion of the industry. Most plastic materials are made of polyethylene, polyethylene terephthalate, and polypropylene. The price of these polymers is closely tied to the volatile price of crude oil. Furthermore, strict government regulations regarding the use of plastic and its disposal as well as growing environmental concerns is anticipated to restrain the market growth over the course of the forecast period.
Market opportunities for innovative materials including bioplastics, aluminum, and other materials are projected to arise as plastic usage is further restricted. Plastics like polylactic acid are produced using majority of renewable energy sources, including maize starch, sugarcane, chips, tapioca roots, and other starches. Polylactic acid is the bioplastic that is currently most widely utilized. Biodegradability, recyclability, and non-toxicity are the main factors affecting the global demand for bioplastics.
The packaging tube market is segmented on the basis of product type, material and application, and region. 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, Europe, Asia-Pacific, and LAMEA.
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 packaging tube market.
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