Tube Packaging Market With Analysis Of New Business Opportunities After Covid-19 Impact: Key Players

 

Tube packaging is a type of packaging that is widely used for various products such as cosmetics, personal care products, pharmaceuticals, food, and industrial products. Tube packaging is flexible, lightweight, and easy to use, making it an ideal choice for manufacturers and consumers. The global tube packaging market size was valued at USD 9.45 billion in 2020 and is expected to reach USD 13.05 billion by 2028, with a CAGR of 4.3% during the forecast period.

Recent Developments:

  1. Sustainable Packaging: The demand for sustainable packaging has been increasing due to growing environmental concerns. Tube packaging manufacturers are now focusing on developing sustainable packaging solutions to reduce the carbon footprint. For instance, companies like Essel Propack and Albéa Group are investing in sustainable packaging solutions such as biodegradable tubes, recyclable tubes, and compostable tubes.

  2. Digital Printing: Tube packaging manufacturers are adopting digital printing technology to offer customized tube packaging solutions to their customers. Digital printing offers flexibility in terms of design and color options, and it also reduces lead times and costs. Companies like CTL Packaging and Hoffmann Neopac are investing in digital printing technology to enhance their product offerings.

  3. Innovative Designs: Tube packaging manufacturers are introducing innovative designs to attract customers and differentiate themselves from competitors. For instance, Berry Global introduced a new tube packaging solution for skincare products called “Slidissime.” The tube features a sliding cap that prevents product leakage and allows for easy dispensing.

  4. E-commerce: The growth of e-commerce has created new opportunities for tube packaging manufacturers. E-commerce packaging requires robust and durable packaging solutions that can withstand the rigors of shipping and handling. Companies like Amcor and Sonoco are developing e-commerce-specific tube packaging solutions that can protect products during transit.

  5. Mergers and Acquisitions: The tube packaging market has been witnessing a wave of mergers and acquisitions in recent years. Companies are looking to expand their product offerings and geographic presence through strategic acquisitions. For instance, in 2021, Sonoco acquired Can Packaging, a Spain-based provider of sustainable paperboard packaging solutions, to expand its product portfolio in Europe.

Overall, the tube packaging market is expected to continue growing due to the demand for sustainable packaging, digital printing technology, innovative designs, e-commerce packaging, and mergers and acquisitions.

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