Tube Packaging Market Share to Record Steady Growth by 2024

Tube Packaging Market Share to Record Steady Growth by 2024

A tube is a cylindrical and hollow container. It is made up of aluminum, paperboard or plastic into which thick liquids such as toothpaste, adhesives, and ointments are added. The tubes have both their ends treated differently after the manufacturing and filling process. The open oval-shaped orifice is closed using caps or closures after filling process whereas the other end is folded or sealed. The tube packaging industry is growing due to the functional and unique packaging such customized printing, punching, labeling, crimping, splicing and other fabrication techniques.

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The major factors that drive the global tube packaging market are raising consumer spending, aggressive pricing, increasing competition, sustainable packaging and excellent barrier properties in tubes. The other factors that influence the global are significant packaging industries growth coupled with new packaging techniques and innovative mindset of end-users towards sustainable packaging. The packaging technique has a broad range of application areas in different industry segments, which escalate the application scope. The intensive competition, global revenue meltdown, and fluctuating packaging raw material prices are key restraints for the global tube packaging industry. The increased urbanization due to the transfer of rural people into urban areas is increasing the demand for the global tube packaging products. The low labor cost increases the job opportunities, which in turn boost the global market.

The global tube packaging market is bifurcated based on type, material type, application, and region. The type segment is divided into twist tubes, squeeze tubes and others. The application segment is categorized into pharmaceuticals, food and beverages, consumer goods and cosmetics and oral care.

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The material type segment of the global market is bifurcated into plastic tubes, aluminum tubes, laminated tubes and others. The regional segmentation includes North America, Asia Pacific, Latin America, the Middle East and Africa, Europe and Rest of the World.

The increasing disposable income and consumer spending drive the global tube packaging market in the European and North American regions. In terms of revenue, Europe is dominating the global market. Asia-Pacific region is expected to be the rapidly growing sector. The major factors that drive the global tube packaging market in the developing countries such as China, India, Indonesia, Thailand, Japan and South Pacific regions are demand for the sustainable, conventional and innovative packaging. China, South Africa, India, the Middle East and Africa, and Brazil are emerging regions changing from old packaging to innovative packaging, which in turn helps the global tube packaging market flourish in the coming years. The growth in the high packaging industry along with the increasing urbanization fuels the global tube packaging market.

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The key players in the global tube packaging market include Huhtamaki OYJ, Montebello Packaging, Sonoco Products Company, Visipak, and Unette Corporation. The other players in the global market include Essel Propack, Albea Group, Worldwide Packaging and Amcor Limited.

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