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Tube packaging Market worth $13.0 billion by 2026

Oct 22, 2021 3:00 PM ET

Tube packaging Market worth $13.0 billion by 2026

According to the new market research report Tube packaging Market by Type (Laminated, aluminum, plastic), Application (Oral care, cosmetics, pharmaceuticals, food & beverage, cleaning products), & Region (North America, Europe, APAC, Middle East, and South America) – Global Forecast to 2026″, size is expected 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 growth is due to the growing demand from oral care and cosmetics application throughout the world. Furthermore, tubes are lightweight and can be easily transported as they occupy less space. They provide benefits such as protection, compactness, convenience, reliability, and cost-effectiveness. The growth of global flexible packaging industry is driving the tube packaging market.

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Cosmetics is the fastest-growing application segment in the Tube packaging market. Improved standards of living, coupled with the rising disposable income of the working middle-class population in emerging economies, is expected to propel the market in the cosmetics segment.  It accounted for a share of about 20.3% of the Tube packaging market, in terms of value, in 2020.

APAC accounted for the largest share of the Tube packaging market in 2020. 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.

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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 oral care and cosmetics industries throughout the world. Increasing demand from APAC will further drive the growth of the global tube packaging market.

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, LOréal in partnership with Albea Group announced the launch of the worlds 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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