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| Tube Packaging Market |
Tube packaging can be made quickly and on a large scale,
meaning that it is a good choice for reactive brands that launch new products
often to match marketing trends. It is also relatively inexpensive to produce,
especially when compared to other types of packaging materials and
manufacturing methods. Tube packaging is available in a wide range of sizes and
finishes. It can be made from plastic or aluminum and can be laminated to
create an additional barrier against contaminants. The orifice size can be
tailored to suit the product and the viscosity. These cylindrical packaging
solutions are a popular option for cosmetics and personal care products, as
well as food and drinks like milkshakes. Their unique unboxing experience
reflects a high-end brand and helps to make the product stand out in a crowded
marketplace.
Global Tube
Packaging Market was valued at US$
9,263.5 Million in 2021 in terms of revenue, exhibiting a CAGR of
6.9% during the forecast period (2022 to 2030).
Market
Dynamics:
Rising
product launches are estimated to augment the growth of the global tube packaging market during
the forecast period. For instance, a new lightweight plastic-based tube
solution was introduced by the Hoffman neopack AG, in February 2021. This is a
new addition to the company’s environmentally friendly tubes and they have been
introduced for reducing the carbon footprint. Moreover,
growing stringent government regulations are
anticipated to restrain growth of the global tube packaging market during
the forecast period.
Impact
of COVID-19:
The pandemic was first reported in China in 2019. In 2020, it
was declared as a global public health emergency by the WHO. The pandemic
affected the growth of several sectors globally. Several strict restrictions
had to be imposed in many regions for preventing the transmission of the
disease. During the pandemic, there was a high demand for ointments and other
medicinal products. There was a high demand for plastic Tube
Packaging Market during the outbreak. The manufacturing rates in the market
increased and this had a positive impact on the growth of the global tube packaging market. This
increase in demand also resulted in expansion of the market.
Key Takeaways:
The global tube packaging market is
expected to witness significant growth, exhibiting a CAGR of 6.9 % over the forecast period, due to increasing partnerships
among key players. For instance, LyondellBasell and The Huhtamaki Oyj partnered up in July
2021, for launching ISCC-certified renewable and next-generation tube
laminates.
North
America is anticipated to witness robust growth in the global tube packaging market during
the forecast period, due to growing presence of
well-established personal care and healthcare industries in the region.
Key
players active in the global tube packaging market are Hoffman Neopac AG, Amcor plc, Romaco
Group, Essel Propack Limited, Unette Corporation, Huhtamäki, CONSTANTIA, Montebello Packaging, Sonoco
Products Company, Clariant, VisiPak,
Sonoco Products Company, WWP,
Unicep, CTL Packaging USA, and IntraPac International LLC.