Tube packaging refers to packaging made of metal, plastic, laminate or combinations of these substrates formed into cylindrical shape to retain and dispense the contents. Commonly used for packaging of personal care and cosmetic products like toothpaste, pharmaceutical ointments and creams, adhesives and sealants and food products like ketchup. The packaging offers advantages like ease of use, security and sealing, along with protection of the contents. It is also cost-effective and occupies lesser storage space as compared to rigid containers.
The global tube packaging market is estimated to be valued at US$ 12195.04 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The global tube packaging market growth is primarily driven by the increase in demand for flexible packaging from end-use industries like personal care, pharmaceuticals and food owing to its advantages over rigid packaging. Flexible packaging offers benefits like lightweight, portability, flexibility in shapes and sizes, durability and product differentiation. Tube packaging being one of the widely used flexible packaging format enjoys growth in demand as it provides ease of use and meets the product dispensing requirements of various industries. Further, the market is driven by the ability of tube packaging to efficiently use resources with lightweight and minimal material usage to package the products. Additionally, advancement in tube laminations providing high barrier protection and printability also supports the market growth during the forecast period.
SWOT Analysis
Strength: Tube packaging offers high barrier protection for products like beauty creams and gels from external elements like moisture, air, and light. This makes tube packaging suitable for products with longer shelf lives. Tube packages are also lightweight and economical to produce due to their simple design. The cylindrical shape allows for maximum product loading.
Weakness: Tube packages incur raw material costs and have limited graphic space for branding compared to other flexible packaging solutions. Recyclability of tube packaging remains a challenge as the laminated structures are difficult to separate.
Opportunity: Growth in demand for small-sized on-the-go personal care and pharmaceutical products drives the need for compact packaging like tubes. Rising health-consciousness and demand for natural cosmetics also presents opportunities for tube packaging manufacturers to develop innovative sustainable packaging solutions.
Threats: Stringent environmental regulations around plastic packaging waste management pose threats. Substitution threat also arises from innovative new packaging formats like flexible pouches and bags. Volatility in raw material prices especially resins can impact packaging converters.
Key Takeaways
The Global Tube Packaging Market Demand is expected to witness high growth over the forecast period of 2024 to 2031 supported by key growth factors. The global tube packaging market is estimated to be valued at US$ 12195.04 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
Regionally, Asia Pacific region is anticipated to dominate the global tube packaging market during the forecast period attributable to high consumption of personal care, foods, and pharmaceutical products driving tube packaging demand in the region. Countries like India, China, Japan are major contributors to the Asia Pacific tube packaging market growth.
Key players: Key players operating in the tube packaging market include Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company. Amcor Limited is one of the largest flexible packaging company globally and is a leader in tube packaging solutions for personal care, food and pharmaceuticals.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it