Flexible tube packaging is used to pack viscous liquids, pastes and creams. It provides higher protection to the product against chemical and physical damages during transportation and storage. Tubes are available in different sized sleeves and nozzle tips allowing accurate and controlled dispensing of content.
The global Flexible Tube Packaging Market is estimated to be valued at US$ 12195.04 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Stand-Up Pouches and Squeezable Tubes Driving the Market Growth
Stand-up pouches and squeezable tubes are experiencing exponential growth among flexible tube packaging due to their higher user-friendliness and functionality which allow one-handed dispensing of contents with precise dosage and mess-free application. Moreover, stand-up pouches and squeezable tubes considerably reduce the consumption of packaging materials which is aiding their wider application across personal care, food and healthcare industries leading to sustainable packaging. The increasing preference for user-friendly tube packaging by consumers and stringent government regulations regarding environment-friendly packaging are driving the market growth of stand-up pouches and squeezable tubes globally.
SWOT Analysis
Strength: Tube packaging provides product protection and maintains freshness and hygiene of contents. It caters various applications in personal care, food and cosmetics industries.
Weakness: Raw material cost volatility and frequent fluctuations impacts the packaging costs. Higher costs incurred for specialized tube packaging designs.
Opportunity: Growth of end use industries such as pharmaceuticals, cosmetics and food segments boost the market demand. Increasing health and hygiene awareness fuels the sales.
Threats: Stringent government regulations regarding plastic usage pose threat. Rising consumer preference for eco-friendly substitutes challenge the market growth.
Key Takeaways
The Global Tube Packaging Market Demand is expected to witness high growth. The global Flexible Tube Packaging Market is estimated to be valued at US$ 12195.04 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
The Asia Pacific region currently dominates the market and is estimated to maintain its lead position during the forecast period. Factors such as increasing per capita income, growing middle class population and expanding end use industries in countries such as India and China provide impetus to regional market growth.
Key players operating in the tube packaging market are Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group. These players focus on new product development, partnerships, mergers and acquisitions to strengthen their market position. For instance, Sonoco Products Company launched lightweight and sustainable tube packaging solutions using recycled and renewable materials.
For more details on the report, Read- https://www.trendingwebwire.com/tube-packaging-market-growth-market-size-share-analysis/
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