Tube Packaging Market Share, Competitive Dynamics, Size, Overview, and Global Outlook till forecast 2023

Tube Packaging Market Overview

The tube packaging popular in many products including pharmaceuticals, cosmetics, and miscellaneous household products. Growth in the personal care industry and rising demand for cosmetic products are the primary factors driving the demand for the Tube Packaging Market Share. Additionally, increasing demand for small sized packs as well as advances in manufacturing processes are fueling market growth. The Tube Packaging Market Share is expected to witness a high growth as a result of the increase in consumer preference for convenient, safe, and sustainable packaging.

The Global Tube Packaging Market Share is poised to touch a valuation of USD 8,297.7 MN by 2023, registering 5.79% CAGR

Key Players

Some of the major player operating in the global Tube Packaging Market Share are Amcor Ltd. (Australia), Albea Group (Luxembourg), CCL Industries (Canada), Sonoco Products Company (U.S.), Sinclair & Rush, Inc. (U.S.), Essel Propack Ltd (India), Huhtamaki (Finland), Montebello Packaging (Canada), World Wide Packaging LLC (U.S.), and Unette Corporation (U.S.).

Segmentation

By material, the global Tube Packaging Market Share has been segmented into laminate, plastic, aluminum, and others.

By product, the Tube Packaging Market Share is segmented into Squeeze tubes, Twist tubes, and others.

By application, the global Tube Packaging Market Share has been segmented into personal care, pharmaceuticals, food, consumer goods, and others.

Tube Packaging Market Share by Product

Global Tube Packaging Market Share has witnessed exponential growth over the last few years and as per the analysis, the market is likely to retain the similar growth rate during the forecast period. The market has been divided into products such as squeeze tubes, twist tubes and others. In 2015, squeeze tube segment accounted for the largest share with 62.2% in the global tube market due to increase in the packaging industry. This type of tubes hold brand as well as available in different sizes, material, and colors. The squeeze tube segment is showing growth due to their excellent barrier properties such as damage proof, non-toxic and hygienic. It is mostly preferred tube packaging due to convenient and easy-to-use nature.

Growth in the Pharmaceutical Industry

Increasing demand from the pharmaceutical industry is fuelling the overall growth in the Tube Packaging Market Share. The pharmaceutical packaging plays a major role in reducing disease level by protecting the drugs from direct light, moisture, and damage while handling or storing. It is mostly used in pharmaceutical because they are cheap, lightweight, flexible, and unbreakable. Polyethylene is the most commonly used material in this packing. According to the IMS Market Prognosis, the global spending on medicine for the year 2011 accounted for USD 956 billion and is estimated to be more than USD 2,890-3,020billion in the forecasted period. The pharmaceutical sector accounted for 20% of spending on medicine in 2011 and is estimated to account for 35% in 2020.

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