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Global Tube Packaging Market to Grow at a CAGR of 6% During 2021-2026, Aided by the Flourishing Cosmetic and Personal Care Industry

According to a new report by EMR titled, ‘Global Tube Packaging Market Report and Forecast 2021-2026’, the market attained a value of about USD 9.7 billion in 2020. The industry is further expected to grow at a CAGR of 6% in the forecast period of 2021-2026 to reach a value of nearly USD 13.8 billion by 2026.

The Asia Pacific region is witnessing significant growth owing to the robust growth of the cosmetics and personal care industry. The inflating purchasing power of the emerging middle-class population in countries, such as India, China, and Vietnam, are aiding the market growth of tube packaging. Moreover, the penetration of major cosmetic companies providing free sample products to appeal to consumers is increasing the use of tube packaging, hence propelling the industry growth. Furthermore, internet penetration and the surge of online retail platforms are escalating awareness as well as accessibility to various premium products usually available in tube packaging. This is also invigorating the market growth. Moreover, soaring production activities in countries such as China, India, and South Korea, among others, are augmenting the regional market  growth, therefore contributing significantly to the overall growth of the tube packaging industry.

In April 2019, Huhtamäki Oyj (HEL: HUH1V), one of the leading players in the market, started a flexible packaging manufacturing unit in Egypt. With the inauguration of the packaging unit, the company penetrated manufacturing flexible packaging in Egypt. The unit serves the customers in Egypt as well as export its products to other African and European countries. The rapid population growth in Africa is expected to increase the demand for flexible packaging in the region. Moreover, the employment of innovative practices and the latest technologies boosts the production process by providing advanced packaging solutions. In addition, the manufacturing unit is built on a land area of almost 37,000 square metres, with ample space for future expansions. The establishment of the unit is not only expanding the company’s growth and global presence but also invigorating the overall growth of the tube packaging industry.

Market Analysis by Type, Material, Application and Region:

  • The market, on the basis of type, can be divided into squeeze, twist, stick, and cartridges, among others.
  • Based on material, the industry can be divided into laminate, plastic, and aluminium, among others.
  • The applications of tube packaging include personal care and oral care, healthcare, food, cleaning products, and consumer goods, among others.
  • The regional markets for tube packaging include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for laminated tubes owing to their excellent properties, which contribute to tamper resistance and longer shelf life, is aiding the market growth.
  • The surging use of miniature products for on-the-go-functionality due to the hectic lifestyles of the working population is propelling the growth of the tube packaging industry.
  • The trend of sustainable lifestyles is increasing the demand for innovative and eco-friendly packaging, which is bolstering the growth of the market.
  • The market is being driven by the surging demand for plastic tube packaging, which is associated with higher flexibility, versatility, and safety.

Key Offerings of the Report:

  • The EMR report gives an overview of the global tube packaging market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, materials, applications, and regions of tube packaging.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for tube packaging are Albea Group, EPL Limited, Montebello Packaging, Huhtamäki Oyj, Unette Corporation, and VisiPak, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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