The global composite cardboard tubes market is anticipated to reach a valuation of US$ 1.7 billion in 2023, driven by growing demand for luxury packaging. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.0% between 2023 and 2033, and reaching a total valuation of approximately US$ 3.1 billion by 2033.
The rapid expansion of the cosmetics and personal care industry because of the high demand for premium and organic products is set to drive the market in the United Kingdom in the near future. As per FMI, the Europe composite cardboard tubes market is set to generate 22.3% of the share in 2022. The country is expected to hold a CAGR of 3.4% over the analysis period.
One of the primary factors driving the growth of the composite cardboard tubes market include the rapid expansion of the e-commerce and online retail sector, which has created a surge in the demand for reliable and sustainable packaging solutions. Composite cardboard tubes offer excellent protection for delicate and fragile products during shipping and handling. They are an ideal choice for products such as cosmetics, personal care items, food items, and consumer electronics. The demand for composite cardboard tubes is expected to rise significantly, as e-commerce continues to thrive and consumers increasingly prefer online shopping.
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Another significant factor contributing to market growth is the growing emphasis on sustainable packaging, which has been driven due to the increasing environmental concerns and consumer awareness. Composite cardboard tubes, being made from renewable and recyclable materials, align with the principles of sustainability. The tubes can be easily recycled, reducing the carbon footprint and contributing to a circular economy. The composite cardboard tubes market is expected to experience sustained growth, as more companies and consumers prioritize sustainability.
Composite cardboard tubes provide an excellent platform for product branding and customization. They can be easily printed, labeled, or decorated with vibrant graphics and designs, enhancing product visibility and brand recognition. Customized composite tubes offer a unique and premium packaging solution that appeals to consumers and positively impacts purchasing decisions. The trend of personalized and branded packaging is gaining momentum, augmenting the growth of the market.
Key Takeaways from the Market Study
- Global composite cardboard tubes market was valued at US$ 1.6 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 5.1%.
- China is expected to hold a dominant CAGR of 7.5% during the forecast period.
- By material type, the corrugated board segment is expected to constitute a CAGR of 5.9% in 2033.
- On the basis of end-user industry, the food & beverage segment is expected to dominate the market with a CAGR of 5.8% in 2033.
- From 2023 to 2033, composite cardboard tubes market is expected to flourish at a CAGR of 6.0%.
- By 2033, the market value of composite cardboard tubes is expected to reach US$ 3.1 billion.
Innovative product applications, across the globe is a major factor that is expected to propel the growth of the composite cardboard tubes market in the near future, remarks an FMI analyst.
Market Drivers-
- Sustainability and Eco-friendliness: The global push for sustainability and eco-friendly packaging materials has significantly boosted the composite cardboard tubes market. These tubes are often made from recycled materials and are fully recyclable, aligning with the growing environmental consciousness of consumers and businesses.
- Versatile Packaging Solutions: Composite cardboard tubes are highly adaptable and can be used in a wide range of applications, including packaging for cosmetics, food, pharmaceuticals, posters, textiles, and many more. This versatility makes them a valuable choice for diverse industries.
- Durability and Protection: These tubes offer robust protection for the contents within. Whether it’s posters, documents, or delicate cosmetic products, composite cardboard tubes provide a sturdy, crush-resistant packaging option that ensures the safety and integrity of the items.
- Creative and Attractive Design Options: Composite cardboard tubes are an excellent canvas for creative packaging designs. They can be easily customized with vibrant graphics and branding, making them appealing to consumers and enhancing brand recognition.
- Lightweight and Cost-effective: Compared to some other packaging materials, composite cardboard tubes are lightweight, reducing shipping costs and environmental impact. This feature appeals to businesses aiming to optimize transportation expenses.
Competitive Landscape
Prominent players in the Composite Cardboard Tubes market are
- Ace Paper Tube Corp,
- Smurfit Kappa Group,
- Valk Industries,
- Visican Ltd,
- Marshall Paper Tube Co., Inc.,
- Chicago Mailing Tube Co.,
- Paper Tubes & Sales,
- Heartland Products Group, and
- Darpac P/L,
- among others.
Recent Developments
- In 2022, Smurfit Kappa Group, a leading provider of paper-based packaging solutions, announced the launch of its innovative composite cardboard tube packaging solution. The company introduced a range of sustainable composite tubes that offer enhanced strength, durability, and protection for a variety of products. The tubes are made from renewable materials and are fully recyclable, aligning with the company’s commitment to sustainability.
- In 2021, Corex Honeycomb, a specialist in honeycomb core products, introduced composite cardboard tubes with honeycomb core technology. The technology enhances the strength and rigidity of the tubes while reducing their weight. The lightweight yet robust composite tubes offer excellent protection for products and are particularly suited for applications that require high strength-to-weight ratios.
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Key Segmentations-
By Material Type:
- Paperboard
- Corrugated Board
By End-use Industry:
- Food & Beverages
- Cosmetics & Personal Care
- Others
By Lid Type:
- Ring Lid Foil Assembly
- Ring Pull Style
- Slip Lid
- Peel-off Membrane
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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