Composite Cardboard Tube Packaging Snapshot (2022 to 2032)
According to Future Market Insights research, during the projected period, the composite cardboard tube packaging market is set to enjoy a valuation of US$ 1.7 Billion in 2022, and further expand at a CAGR of 5.4% to reach US$ 2.9 Billion by the year 2032. The sales of composite cardboard tube packaging are projected to augment with the top 3 countries anticipated to hold approximately 30 to 35% of the market by the end of 2022.
In the composite cardboard tube packaging market, the caps segment by closure type is projected to hold approximately 70% of the market value share by the end of 2032. The reason behind the same is the high preference for easy-to-open closure for composite cardboard tube packaging by various end-use industries.
Market Size 2022
US$ 1.7 Billion
Market Size 2032
US$ 2.9 Billion
Value CAGR (2022 to 2032)
5.4%
Collective Value Share: Top 5 Companies (2022E)
20 to 25%
According to the FMI analysis, the composite cardboard tube packaging market reached US$ 1.6 Billion in 2021. The global composite cardboard tube packaging market is anticipated to reach US$ 2.9 Billion by the end of 2032, registering at a CAGR of 5.4% from 2022 to 2032. The demand for the composite cardboard tube packaging segment is projected to bolster with the top 5 key players holding 20 to 25% of the global composite cardboard tube packaging market by the end of 2022.
The composite cardboard tube packaging market is projected to bolster the increasing demand for eco-friendly rigid packaging solutions. A new forecast by FMI analysis estimates that composite cardboard tube packaging sales will propel during the foreseeable period and is anticipated to create a growth opportunity of US$ 1.3 Billion.
The surge in demand for a protective packaging solution with excellent barrier properties in various end-use industries is projected to augment the sales of composite cardboard tube packaging. The composite cardboard tube packaging market is anticipated to expand 1.8 times the current market value from 2022 to 2032.
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Historic Market Outlook for Composite Cardboard Tube Packaging
The global composite cardboard tube packaging market witnessed a growth rate of 3.6% from 2015 to 2021 and reached US$ 1.6 Billion in 2021.
Composite cardboard tube packaging is a lightweight, easily openable packaging solution that is mainly used to store and transport products. Composite cardboard tube packaging is a fiber-based packaging solution that is sturdy, protective, and biodegradable. This cardboard tube packaging is resistant to water and external factors such as temperature because moisture and heat may damage the products stored inside them. The usage of composite cardboard tube packaging increases the shelf life of food, preserving the taste and aroma. It also reduces the risk of spillage. Composite cardboard tube packaging has high crushing strength and can be carried anywhere with ease.
In recent years, the composite cardboard tube packaging market has witnessed significant growth in the food & beverage and retail industries. The increased consumption of tube packaging in food & beverage packaging plays a vital role in contributing to growth opportunities for the key players in the composite cardboard tube packaging market. Thus, they are gaining significant traction in the food & beverage, personal care & cosmetics, as well as household industries. The usage of composite cardboard tube packaging, particularly for attractive retail packaging, is likely to witness a substantial increase. On the back of these factors, the composite cardboard tube packaging market is expected to witness significant growth during the forecast period.
How does the Trend for Innovative Packaging Format Augment the Sales of Composite Cardboard Tube Packaging?
Over the years, plastic tube packaging was majorly used by all key players for storing and carrying food & beverage products. But recently, due to consumer preferences and rising awareness about environmental concerns, consumers’ focus is shifting towards composite cardboard tube packaging, which is 100% recyclable and has the same primary properties as plastic tube packaging, such as protecting the food product from any contamination, spillage, increase the shelf life and make it easy to carry. Therefore, manufacturers can develop composite cardboard tube packaging instead of plastic tube packaging, thereby increasing the opportunity for all the small players to enter the sustainability market. The brand owners are also focusing on adopting sustainable packaging solutions such as composite cardboard tube packaging For instance, Hans Freitag, a food manufacturer, launched its new Fit for Fun biscuits using composite cardboard tube packaging. Also, the replacement of plastic tube packaging with recyclable composite cardboard tube packaging will contribute to regulations framed by the government for various environmental issues.
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Category-wise Insights
Which Closure Type Holds the Major Portion of the Global Composite Cardboard Tube Packaging Market?
By closure type, the caps segment holds the major portion of the global composite cardboard tube packaging market. The caps segment is projected to expand at a CAGR of 5.2% during the forecast period.
Which End-Use Segment Generates Sturdy Demand for the Composite Cardboard Tube Packaging?
The food & beverages segment is projected to generate hefty demand for composite cardboard tube packaging during the forecast period. The food & beverages segment is estimated to hold around 57% of the market value share by the end of 2032. The increasing consumption of packed food and the trend for rigid sustainable packaging is supplementing the sales of composite cardboard tube packaging in the food & beverage industry.
Country-wise insights
Why is Germany Estimated to Augment the Demand for Composite Cardboard Tube Packaging?
As per the FMI analysis, the German composite cardboard tube packaging market is estimated to expand at a CAGR of 4.5% during the forecast period due to the increasing consumption of packed food in Germany. As per the data provided by the Food Export Association of the Midwest USA and Food Export USA–Northeast, Germany is the fourth largest packed food market in the globe. This is projected to augment the demand for rigid containers such as composite cardboard tube packaging.
How does the USA Create a Growth Opportunity for Composite Cardboard Tube Packaging?
The USA is expected to hold around 81% of the North American composite cardboard tube packaging market by the end of the forecast period. The composite cardboard tube packaging is used to pack wine bottles to provide a premium look and to protect the bottle during storage & transportation. The increased consumption of Wine in the USA is anticipated to create a growth opportunity for the composite cardboard tube packaging market. According to the American Addiction Centers (AAC), the USA is the largest consumer of wine with an annual consumption rate of 4.3 Billion bottles per year. This creates a growth opportunity for Cardboard Container manufacturers including composite cardboard tube packaging.
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Competitive Landscape
The players engaged in manufacturing composite cardboard tube packaging are trying to focus on expanding their presence and resources to meet the growing demand for packaging in various regions. The key players are adopting merger/acquisition and expansion strategies. Some of the latest developments are as follows –
In September 2022, Smurfit Kappa Group plc announced the acquisition of PaperBox, a packaging plant located in Brazil which will help the company expand its presence in Brazil.
In August 2021, COREX Group announced the acquisition of Topcore, a well-established Finnish core converter that will help the company to strengthen its network in Europe.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 5.4% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2015 to 2020
Forecast Period
2022 to 2032
Quantitative Units
Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
By Closure Type, Composite Cardboard Tube Packaging is Segmented as:
Caps
Lids
By Can Diameter, Composite Cardboard Tube Packaging is Segmented as:
Less than 50 mm
50 mm to 100 mm
Above 100 mm
By End Use, Composite Cardboard Tube Packaging is Segmented as:
Food & Beverages
Household
Cosmetics & Personal Care
Other Consumer Goods
By Region, Composite Cardboard Tube Packaging is Segmented as:
North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa (MEA)
Oceania
Frequently Asked Questions
What was the value of the composite cardboard tube packaging market in 2021?
The global Composite Cardboard Tube Packaging market reached US$ 1.6 Billion in 2021.
What was the historic growth rate for the global composite cardboard tube packaging market?
The global composite cardboard tube packaging market expanded at a CAGR of 3.6% from 2015 to 2021.
What will the value of the global composite cardboard tube packaging market by the end of 2032?
By 2032, the global composite cardboard tube packaging market is projected to reach US$ 2.9 Billion.
At what rate is the global composite cardboard tube packaging market anticipated to grow?
From 2022 to 2032, the global composite cardboard tube packaging market is anticipated to register a CAGR of 5.4%.
What is the future growth outlook for the global composite cardboard tube packaging market?
The global composite cardboard tube packaging market is estimated to grow 1.8 times the current market value during the forecast period.
Which can diameter segment is expected to lead the global composite cardboard tube packaging market during the forecast period?
During the forecast period, the 50mm-100mm segment by the can diameter is expected to lead in the global composite cardboard tube packaging market.
What drives the demand for the composite cardboard tube packaging market?
The increasing demand for rigid packaging for packed food is fuelling the demand for composite cardboard tube packaging.
Which are the key players operating in the global composite cardboard tube packaging market?
Smurfit Kappa Group Plc, Mondi Group Plc, Sonoco Products Company, Canfab Packaging Inc., and COREX Group are the key players operating in the global composite cardboard tube packaging market.
At what rate is the India composite cardboard tube packaging market projected to grow?
As per the FMI analysis, the Indian composite cardboard tube packaging market is projected to expand at a CAGR of 8.2% from 2022 to 2032.
