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(Health-NewsWire.Net, September 25, 2021 ) The global tube packaging market size is estimated to grow from USD 9.5billion in 2021 to USD 13.0billion 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 packagingmarket.
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Amcor (Switzerland), Albea Group (France), EsselPropack Limited (India), Hoffman Neopack AG (Switzerland), andHuhtamaki 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 2017and 2020 to earn a competitive advantage in the tube packagingmarket.
Albeais 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, L'Oréal in partnership with Albea Group announced the launch of the world's first accredited paper-based cosmetic tube, which will eventually replace plastic for environmental safety.
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EsselPropack Limited is the second-largest player of the tube packagingmarket, globally. EsselPropack Ltd. is one of the largest global specialty packaging company which manufactures laminated plastic tubes catering to the FMCG and pharmaceutical segments. In November2020, 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.
MarketsandMarkets expects the global tube packaging market size to grow from USD 9.5billion in 2021 to USD 13.0billion by 2026, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period. Thedriving factors for Tube packaging market is growing demand from cosmetics & oral care applications.Tube packaging provides benefits, which include protection, compactness, convenience, reliability, and cost-effectiveness; these properties make tubes the most viable option for packaging.
Tube packaging manufacturers are the most important players in the value chain as they produce and provide various product types of tube packaging based on their required properties for the specific end-use applications. The end-use applications such as oral care, cosmetics, pharmaceuticals, food & beverage, cleaning products and other. This provides additional value to the chain.
Oral care is the largest market of tube packaging with a 40.1% share, globally. The growth of the oral care segment is attributed to the rising disposable income, growing middle-class population, growing consumption of oral hygiene products.Laminate tubes having plastic barrier or aluminum barrier are mainly used in oral care applications.
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