Dublin, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The "Tube Packaging Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global tube packaging market is poised for significant growth, with eco-friendly and sustainable innovations at the forefront of the industry's expansion. A comprehensive research study has been released, providing an in-depth analysis of this dynamic market which is projected to achieve a robust CAGR of 4.92%.
This detailed report offers invaluable insights into the burgeoning market's trajectory from a valuation of US$9.309 billion in 2021 to an anticipated US$13.032 billion by 2028. Driven by market demands and technological advancements, the tube packaging sector is witnessing a surge in sustainable packaging solutions and strategic industry partnerships.
Key Factors Influencing Tube Packaging Market Growth
- An increased demand for sustainable and recyclable packaging solutions, with consumer preferences heavily leaning towards eco-friendly alternatives.
- The transformation in manufacturing technology, paving the way for innovative packaging materials and designs.
- A significant shift in consumer habits towards convenient, yet aesthetically appealing packaging options.
Advancements in Sustainable Packaging
Notable market trends reveal a strong consumer propensity towards sustainability, which is revolutionizing the tube packaging sector. Innovations ranging from the use of biopolymers to recyclable aluminum tubes are a response to the escalating environmental concerns and regulatory standards for product safety and ecological impact.
Regional Market Highlights and Industrial Developments
In the Asia Pacific region, India is emerging as a pivotal market for tube packaging, buoyed by industrial growth, increased consumer purchasing power, and heightened demand for personal care products. Cooperation among market leaders is fostering a culture of innovation, particularly in sustainable packaging.
Recent Industry Developments:
- Innovation in fiber-based tube closures by Stora Enso and partners, exemplifying a commitment to reducing plastic usage.
- Albéa's advancement towards mono-material recyclable packaging solutions in the dental care arena.
- Hoffmann Neopac's launch of PaperX Tube series, significantly cutting down on plastic content.
- UFlex's pioneering KRAFTIKA tubes, crafted from FSC-certified virgin kraft paper, addressing packaging sustainability.
Market Segmentation Analysis
The report provides an exhaustive segmentation of the tube packaging market to help stakeholders understand key opportunities:
- By Material: Plastic, Paper, Aluminum, Others
- By Type of Package: Squeeze, Twist, Cartridges, Stick, Others
- By Application: Healthcare & Pharmaceutical, Cosmetics & Toiletries, Food, Homecare, Others
- By Geography: North America, Europe, Asia Pacific, Middle East, Africa, and South America
This research publication presents a thorough analysis of the industry's competitive landscape, offering stakeholders a strategic advantage in the ever-evolving tube packaging market. Emerging trends, growth factors, and regional market dynamics provide a cohesive picture of the opportunities that lie within this sector through to 2028.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 155 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $9.31 Billion |
| Forecasted Market Value (USD) by 2028 | $13.03 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Companies Profiled
- Berry Global Inc.
- Amcor Plc
- CCL Industries
- EPL Limited
- Hoffmann Neopac AG
- Huhtamaki (Huhtamaki Oyj)
- Montebello (Crown Paper Group)
- VisiPak (Sinclair & Rish, Inc.)
- Unette(Praxis Packaging)
- Romaco Group (Truking Group)
For more information about this report visit https://www.researchandmarkets.com/r/oiw1ln
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