China and India are the largest revenue generator in the APAC tube packaging market.
Arizton’s recent market research report on the tube packaging market identifies Essel Propack, Amcor, Sonoco, Huhtamaki OYJ, and Consantia Flexibles as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by material (aluminum tubes, plastic tubes, laminated tubes, and others), by end-user (beauty and cosmetics, pharma and health, food, oral care, and house care), and by geography (North America, Latin America, Europe, MEA, and APAC).
The tube packaging market is anticipated to generate revenues of more than $11 billion and is expected to grow at a CAGR of over 7% during the forecast period.
The tube packaging market is divided into three major segments that are classified by materials, end-users, and geography.
APAC to dominate the market share in the tube packaging market during the forecast period
The tube packaging market by geography is divided into North America, Latin America, Europe, APAC, and MEA. The APAC was the largest geographical segment in the tube packaging market occupying more than 35% of the total market share and is expected generate revenues of more than $4 billion during the forecast period. Factors such as rising purchasing power, fledgling retail, and e-commerce market, warranting innovative packaging formats, attractive raw material prices, and progressive manufacturing policies are driving the growth of the tube packaging market in the APAC region. China and India are the largest revenue generator in the APAC tube packaging market. The growing preference for differentiated products and offerings will have a positive impact on the tube packaging market in the region during the forecast period.
Laminated materials to grow at the fastest CAGR in the tube packaging market during the forecast period
The material segment in the global tube packaging market is categorized into aluminum tubes, plastic tubes, laminated tubes, and others. The laminated tubes are the fastest growing material segment in the tube packaging market at a CAGR of over 7% and are expected to generated revenues of more than $8 billion during the forecast period. The growing demand for laminated tubes from the oral care, cosmetics, and pharmaceutical industries is propelling the growth of this market segment in the tube packaging market. The growing adoption of laminated packaging is primarily driven by the benefits of improved shelf life and the extra protection provided by these materials. The development of innovative laminated tubes with the help of advanced technology will attribute to the growth of this market segment in the tube packaging market over the next few years.
Pharma end-user segment to grow at a significant CAGR in the tube packaging market during the forecast period
The tube packaging market by end-user is classified into beauty and cosmetics, pharma and health, food, oral care, and house care. The pharma and health industry is the fastest growing end-user segment in the tube packaging market at a CAGR of more than 9% and is anticipated to reach the value of over $1 billion during the forecast period. The extensive use of tube packaging for lotions, ointments, gels, and medicated creams for a variety of medical applications is driving the growth of this market segment in the global tube packaging market. The use of superior packaging solutions for pharma and healthcare products protects it from biological contamination, materialistic damage, and unfavorable external influences. The leading vendors are leveraging advanced technology to improve the manufacturing process and gain a larger market share in the tube packaging market.
The other prominent players in the tube packaging market are Albea, VisiPak, Montebello, Unette Corp., Worldwide Packaging, CTL Packaging, IntraPac International, M&H Plastics, Unicep, and 3D Technopak.
The complete overview of the latest market research report on tube packaging market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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