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| Tube Packaging Market |
Tube packaging is used extensively to protect and transport a wide variety of consumer and industrial goods. Bio-based tubes such as molded paper tubes offer several advantages including sustainability, less industrial energy usage, recyclability, and printability. Their growing use for shipping goods like consumer electronics accessories, craft materials, art suppies has boosted the tube packaging market.
The global Tube Packaging Market is estimated to be valued at US$ 10585.97 Mn in 2023 and is expected
to exhibit a CAGR of 4.4% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Bio-based tubes are helping to propel growth in the tube packaging market. With
rising focus on sustainability across industries, many companies are switching
to bio-based solutions for product packaging. For example, molded paper pulp
tubes made from renewable plant fibers offer a greener alternative to plastic
tubes. They reduce industrial carbon footprint and dependency on fossil
fuel-derived polymers. Furthermore, paper tubes are fully recyclable and allow
using recycled content in production. Their growing popularity is expected to
drive the tube packaging market over the forecast period.
Segment
Analysis
Tube packaging market is segmented into collapsible tubes, squeeze tubes, twin
squeeze tubes and others. Collapsible tubes dominates the market with a share
of over 35% in 2023. Collapsible tubes are preferred for packaging cosmetic and
personal care products like toothpaste and hair gels as it keeps the product
fresh for longer duration and also allows controlled dispensing.
Key Takeaways
The global Tube
Packaging Market Share is
expected to witness high growth over the forecast period of 2023 to 2030. The
market size is projected to grow from US$ 10585.97 Mn in 2023 and registering a
CAGR of 4.4% during the forecast period.
Regional analysis
Europe held the largest share of around 30% in the global tube packaging market
in 2023 owing to established personal care industry in the region. However,
Asia Pacific is expected to witness the fastest growth during the forecast
period supported by rising disposable incomes, growing middle class population
and their increasing spending on personal care and cosmetic products in
countries like China and India.
Key players
Key players operating in the tube packaging market are 3M Company, Arthrex,
Inc., ArthroCare Corporation, Biomet, Inc., BREG, Inc., Conmed Corporation,
DePuy Mitek, Inc., DJO Global, Inc., Mueller Sports Medicine, Inc., Ossur hf,
and OttoBock Healthcare GmbH. 3M Company held the dominant share of more than
15% in 2023 owing to its large product portfolio and widespread distribution
network across the globe.
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