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 German composite cardboard tube packaging market is poised for growth, with an estimated CAGR of 4.5% during the forecast period. This expansion can be attributed to the rising consumption of packaged food within Germany. According to data from the Food Export Association of the Midwest USA and Food Export USA–Northeast, Germany ranks as the fourth-largest market for packaged food globally. The growing demand for rigid containers, including composite cardboard tube packaging, is a direct result of this increased consumption of packaged food. These tubes provide an ideal solution for protecting and preserving various food products.
In the United States, the composite cardboard tube packaging market is expected to dominate around 81% of the North American market by the end of the forecast period. Composite cardboard tubes are frequently used for packaging wine bottles due to their ability to impart a premium appearance and safeguard the bottles during storage and transportation. With the USA being the largest consumer of wine, as reported by the American Addiction Centers (AAC), with an annual consumption rate of 4.3 billion bottles per year, this presents a significant growth opportunity for cardboard container manufacturers, including those specializing in composite cardboard tube packaging. The demand for such packaging is poised to grow in tandem with the wine consumption trend in the USA.
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Composite cardboard tubes are one of the most adaptable form of packaging and their popularity is rooted to their fundamental property that a composite cardboard tube uses less material as compared to the cardboard boxes of the same volume and moreover, they retain their shape and are difficult to squash which makes them a popular choice for logistics.
Composite Cardboard Tube Packaging Market: Key players
Some of the key players operating in the global composite cardboard tube packaging market are
- Smurfit Kappa Group
- CBT Packaging
- Visican Ltd.
- Darpac P/L
- Humber Print & Packaging Limited
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
Composite Cardboard Tube Packaging Market: Market Dynamics
- Sustainability and Environmental Concerns: As environmental awareness continues to grow, there is a rising demand for sustainable packaging solutions. Composite cardboard tube packaging is considered eco-friendly as it is often made from recycled materials and is itself recyclable. This trend drives the adoption of composite cardboard tubes as an alternative to less sustainable packaging options.
- Rising E-commerce and Online Retail: The rapid growth of e-commerce has increased the need for packaging solutions that protect products during shipping and enhance the unboxing experience for customers. Composite cardboard tubes are often used for the packaging of various products in e-commerce, from cosmetics to gourmet foods.
- Customization and Branding: Businesses are looking for ways to differentiate their products and enhance their branding. Composite cardboard tubes offer opportunities for customization in terms of size, shape, and printing, making them an attractive choice for companies seeking unique packaging solutions.
- Premium Packaging for Luxury Goods: Composite cardboard tubes are used to package high-end and luxury products such as perfumes, cosmetics, and fine chocolates. As the luxury goods market continues to grow, so does the demand for premium packaging, which includes composite cardboard tubes.
- Food and Beverage Industry: The food and beverage industry relies on composite cardboard tubes for the packaging of products like wine bottles, tea, and gourmet snacks. The growth of this industry contributes to the demand for composite cardboard tube packaging.
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Composite Cardboard Tube Packaging Market: Market Segmentation
The global cardboard tube packaging market is segmented on the basis of end use, material type, and geography. On the basis of end use, the global composite cardboard tube packaging market is segmented into Food & Beverages, Cosmetics & Personal Care, Postal & Mailing Industry, and others (apparel etc.).
Food & beverages end use segment is further sub segmented into bakery & confectionery, alcoholic beverages, non-alcoholic beverages and dairy industry. Alcoholic beverages end use sub segment has the major percentage share in the global composite cardboard tube packaging market as it ensures the safe transportation of wines etc. and also enhances their brand value.
On the basis of material type, the global composite cardboard tube packaging market is segmented into paperboard, Kraft paper, and corrugated board. Corrugated board is the most preferred raw material for composite cardboard tube packaging.
The regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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