Tube Packaging Market worth $13.0 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 5, 2021 /PRNewswire/ -- 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", published by MarketsandMarkets™, the global Tube Packaging Market 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.
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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.
Cosmetic is expected to be the fastest growing application in the Tube packaging market during the forecast period.
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.
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APAC is expected to hold the largest market share in the global tube packaging market during the forecast period.
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.
Amcor (Switzerland), Albea Group (France), EsselPropack Limited (India), Hoffman Neopack AG (Switzerland), and Huhtamaki Oyj (Finland), are the leading tube packaging manufacturers, globally.
Browse Adjacent Markets: Packaging Market Research Reports & Consulting
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1. PROTECTIVE PACKAGING MARKET by Material (Foam Plastics, Paper & Paperboard, Plastics), Product Type (Flexible, Rigid, Foam), Function (Cushioning, Blocking & Bracing, Void-fill, Insulation, Wrapping), Application (Food & Beverage, Consumer Electronics, Industrial Goods, Automotive, Household Appliances, Healthcare) - Trends & Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/protective-packaging-market-39055502.html
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