Global Tube packaging Market Expected to Surpass US$ 13.0 Billion by 2026, at a CAGR of 6.6% – Exclusive Report by MarketsandMarkets™
The global tube packaging market size is estimated to grow from USD 9.5 billion in 2021 to USD 13.0 billion by 2026, at a CAGR of 6.6% during the forecast period. The market is projected to witness decent growth in the near future, owing to growing demand from the oral care and cosmetics industries throughout the world. Increasing demand from APAC will further drive the growth of the global tube packaging market.
Tube packaging manufacturers are the most important players in the value chain as they produce and provide various product types of tube packaging based on their required properties for specific end-use applications. The end-user applications such as oral care, cosmetics, pharmaceuticals, food & beverage, cleaning products and other. This provides additional value to the chain.
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Oral care is the largest market of Packaging Tubes with a 40.1% share, globally. The growth of the oral care segment is attributed to the rising disposable income, growing middle-class population, and growing consumption of oral hygiene products. Laminate tubes having plastic barriers or aluminum barriers are mainly used in oral care applications.
APAC accounted for the largest share of the Tube packaging market in 2021. The market in the region is growing because of the increase in demand for small and innovative packs for cosmetics and oral care applications in this region.
Amcor (Switzerland), Albea Group (France), Essel Propack Limited (India), Hoffman Neopack AG (Switzerland), and Huhtamaki Oyj (Finland), among others are the leading tube packaging manufacturers, globally. These companies adopted new product launch, expansion, partnership & collaboration, and merger & acquisition, partnership & collaboration as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the tube packaging market.
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Albea is the largest player in the market. It offers various products based on core expertise such as tubes, cosmetic packaging, dispensing system, and beauty solutions. In March 2020, L’Oréal in partnership with Albea Group announced the launch of the world’s first accredited paper-based cosmetic tube, which will eventually replace plastic for environmental safety.
Essel Propack Limited is the second-largest player of the tube packaging market, globally. Essel Propack Ltd. is one of the largest global specialty packaging company which manufactures laminated plastic tubes catering to the FMCG and pharmaceutical segments. In November 2020, EPL acquired Creative Stylo Packs Pvt. Ltd. in a part-cash and part-stock transaction. Creative Stylo Packs Pvt. Ltd. is an established manufacturer of corrugated boxes, laminated tubes, and plastic co-ex tubes and caps, primarily serving personal care, cosmetic, pharmaceuticals, and FMCG markets in India.
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