Plastic Tube Industry Growth, Future Business Analysis 2034 |...

Plastic Tube Industry Growth, Future Business Analysis 2034

Posted 2024-08-09 19:58:14

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The global plastic tube market is poised for significant growth, with an estimated value of USD 1,064.3 million in 2024 and an anticipated valuation of USD 1,799.8 million by 2034. This represents a steady expansion at a compound annual growth rate (CAGR) of 5.4% over the next decade.

The market’s growth trajectory is driven by increasing consumer demand for flexible, portable, and user-friendly packaging solutions.

Core Concepts in the Plastic Tube Industry

Current Worth: The global plastic tube industry was valued at USD 1,018.1 million in 2023.
Future Worth: By the end of 2034, the industry is projected to reach USD 1,799.8 million, reflecting a robust growth trajectory.
Growth Rate: The industry is expected to witness a compound annual growth rate (CAGR) of 5.4% from 2024 to 2034.
Regional Growth: Asia Pacific excluding Japan is anticipated to display the highest CAGR of 6.7% during the forecast period.
Key Manufacturers: Major players in the global plastic tube industry include Albea and Berry Global.

How will Increasing Consumption of Cosmetic Products Augment Plastic Tubes Sales?

The global cosmetics and beauty industry is one of the frequent end users of plastic tubes. Rising consciousness towards wellness and beauty is driving the cosmetics and personal care industry.

Hence, consumption of cosmetic plastic tubes in these industries for skin, hair, and body care treatments is one the major factor spurring the sales in the plastic tubes market.

Millennials have become more cautious and keen on maintaining their health. Additionally, increasing penetration of social media and the internet is promoting the importance of skincare and hair care routines.

On account of the aforementioned factors, consumption of plastic tubes in cosmetic industry is expected to burgeon over the coming years. Further, plastic tubes are predominantly used to pack anti-aging creams, shampoos, hair conditioners, and other cosmetics products.

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