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Packaging Tubes Market Expected to Grow at 3.4% CAGR by 2034

2024-10-14 02:43:22.835000

The global packaging tubes market is projected to grow significantly, with an expected increase from USD 4,737.3 million in 2024 to USD 6,640 million by 2034, reflecting a compound annual growth rate (CAGR) of 3.4%. In 2023, the market generated USD 4,623.9 million, with a year-over-year growth of 2.5% anticipated for 2024. Laminated tubes, which hold a dominant market share of 56.3%, are particularly driven by their extensive use in the cosmetics industry. Notably, tubes with a capacity of 51 to 100 ml are expected to capture over 40% of the market share. The U.S. market is projected to create an incremental opportunity of USD 2,016.1 million by 2034, while the UK is expected to grow at a CAGR of 2.3%. India is forecasted to hold a 23.3% market share by 2034, growing at a robust CAGR of 4.5%. Key players in this market include CCL Industries, Albea Group, and Berry Global Group. Recent developments include LINHARDT Group's acquisition of Pioneer Extruders in June 2024 and Hoffmann Neopac AG's launch of a new cosmetics tube line in May 2024. This growth trajectory highlights the increasing demand for packaging solutions across various sectors, particularly in personal care and cosmetics. [c72c1f52]

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