TUBE PACKAGING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Tube Packaging Market Analysis:

The Tube Packaging Market is projected to experience substantial growth during the forecast period (2023–2028), with an estimated size of USD 6.19 billion in 2023 and an expected increase to USD 8.80 billion by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 7.28%. Tubes are a highly favored packaging format in the cosmetic and personal care industry due to their convenience, portability, and flexibility in holding and dispensing a wide range of products.

The market’s growth is primarily attributed to factors such as increasing urbanization, a growing millennial population, and rising disposable incomes of consumers. Urbanization has played a significant role in boosting disposable income and creating awareness about the availability of various cosmetic products, thereby creating several opportunities for market players and significantly spurring the demand for Tube packing.

Laminated tubes currently dominate the market due to their multi-layered barrier structure, which improves the product’s shelf-life by providing excellent barrier properties and minimizing the transfer of oxygen and light, offering protection against bacteria. As a result, the demand for laminated tubes is on the rise.

The pharmaceutical market is also driving the growth of the Tube Packaging Market, particularly in the Dermatology sector, where tube packing is extensively used. According to AstraZeneca, global pharmaceutical sales reached 110 billion USD in 2018, and the future growth of the pharmaceutical sector will drive the demand for tubes and bottles packaging.

Furthermore, technological advancements in cosmetic packaging, such as including a brush or sponge head on a tube with a pump and other innovative applicators, are being increasingly requested to enhance the user’s experience.

In conclusion, urbanization has created several opportunities for market players by boosting disposable income and creating awareness about the availability of different cosmetics products, thereby significantly spurring the demand for Tube packing.

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