Tube Packaging Market CAGR Shows Signs of Growth By 2030

Tube Packaging Industry Overview

The global tube packaging market size was valued at USD 9.91 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028.

Increasing demand for these types of packaging from application industries, such as cosmetics personal care, healthcare, and food, is expected to be the primary diver for the market. Increasing consumer awareness regarding personal health and wellness is expected to be a stimulating factor for the growth of the personal care market. Growing consciousness about personal appearance is augmenting the demand for personal care products, which, in turn, will boost the demand for tube packaging solutions. The U.S. is one of the key markets in the global beauty personal care industry owing to the high spending power of consumers.

Gather more insights about the market drivers, restrains and growth of the Tube Packaging Market

The demand for organic personal care products in the country is on the rise owing to changing consumer preferences for natural ingredients. Organic products are mostly sold in small quantities and at a premium cost, which will drive demand for tube packaging as it enables efficient and precise dispensing.

Fluctuating raw material prices, which include plastics, aluminum, and other laminates, are expected to create challenges for the market growth. Plastic material majorly includes polyethylene, polyethylene terephthalate, and polypropylene. The prices of these polymers are sensitive to the crude oil prices, which are highly volatile. Moreover, rising environmental concerns and stringent government regulations regarding the use of plastic and its disposal are expected to hinder the market growth over the forecast period.

Increasing curbs on the usage of plastic are expected to create opportunities for innovative materials including bioplastics, aluminum, and others. Plastics like polylactic acid are primarily derived from renewable energy sources, such as corn starch, sugarcane, chips, tapioca roots, and other starches. Polylactic Acid is the most consumed bioplastics around the globe. Biodegradability, recyclability, and non-toxicity are the key factors driving the demand for bioplastics around the globe.

Products primarily reach the end-users like pharmaceuticals and cosmetics manufacturers through distributors. However, many global end-users have established direct contact with the manufacturers to reduce the cost and ensure uninterrupted supply. Moreover, some tube packaging manufactures have allowed the user to directly order from their websites as these portals allow direct contact between the supplier and customer as well as improves the profitability of both parties by reducing the distributor costs.

Browse through Grand View Research's Plastics, Polymers Resins Industry Research Reports.

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Tube Packaging Market Segmentation

Grand View Research has segmented the global tube packaging market on the basis of tube type, product, application, and region:

Tube Packaging Tube Type Outlook (Revenue, USD Million, 2017 - 2028)