Tube Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The tube packaging market was valued at USD 10.72 billion in 2020 and is expected to reach USD 15.39 billion by 2026, at a CAGR of 6.3% over the forecast period 2021 - 2026. Tubes are one of the most popular packaging formats in the cosmetic and personal care segment, primarily attributed to their convenience, portability, and flexibility to hold and dispense a wide variety of products.
Key HighlightsThe tube packaging market is highly fragmented due to the presence of a large number of players. Moreover, sustainable competitive advantage can be gained through innovation (design, technology, and application) and partnerships. In addition, there is a fairly high probability of new players entering the market studied, further intensifying the competition. Therefore, the market incumbents have been identified to adopt a powerful competitive strategy, characterized by acquisitions, mergers and acquisitions, and a strong emphasis on R&D. Some key market players in the market are Amcor, Bemis, Tetrapack among others. Some key recent developments in the market include:
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