Global Tobacco Packaging Market Is Expected to Reach USD 23.03 billion by 2027 : Fior Markets

Tobacco Packaging Market by Type (Bulk, Primary, Secondary), Material (Paper Boxes, Jute, Plastic, Paper), End-Use (Smokeless Tobacco, Smoking Tobacco, Raw Tobacco), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

Newark, NJ, July 27, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global tobacco packaging market is expected to grow from USD 18.35 billion in 2019 and to reach USD 23.03 billion by 2027, growing at a CAGR of 3.3% during the forecast period 2020-2027.

The tobacco packaging market is witnessing significant growth from the past years. This growth is attributed to the rise in global cigarette consumption and rising demand for cigarettes among female smokers. For instance, Smurfit Kappa Group Plc inaugurated a new folding carton plant. This plant manufactures trays, boxes, and other carton material for industrial, medical, tobacco, food and beverage, and consumer electronics. However, technological advancement, growing per capita income, and change in lifestyle has increased demand for tobacco packaging. Thus, the increasing stress and workload among the urban population have increased demand for tobacco.

An indigenous American plant that is now grown across the world is known as tobacco. Packaging of dried tobacco leaves are used for making cigarettes, bidis, cigars, smokeless tobacco, shishas, and dissolved tobacco are involved in the tobacco packaging industry. The leaves of the tobacco plant contain a high level of additive chemical nicotine which can be a cancer-causing chemical. Tobacco requires the right quality of packaging to prevent it from bacteria. One of the most used tobacco product is cigarettes, which consists of delicately cut tobacco leaves rolled in lean paper. Tobacco packaging market has the largest share for cigarette production. Thus, the market for tobacco packaging is increasing.

The global tobacco packaging market is expected to witness significant growth, as the nicotine used in tobacco acts as an anti-depressant and a stimulant that helps the professionals to cope with daily challenges. Rising attraction amongst the youth population, an increase in cigarette consumption in social gatherings, and different technologies used for the packaging of tobacco propel the growth of tobacco packaging market. Strict government regulations and increasing health awareness restraints market growth. Preventive measures are taken by the government, imposing heavy tax and selling restrictions challenges the market growth. However, around 6 trillion cigarettes sticks were produced in 2019 that was then used by around 1 billion smokers as per World Health Organisation (WHO).

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Key players operating in the global tobacco packaging market include WestRock, Amcor Ltd., Ardagh Group, Reynolds American Corporation, Philip Morris International Inc., Innovia Films, Mondi Group, ITC, British American Tobacco, and Altria Group. To gain the significant market share in the global tobacco packaging market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. WestRock, Amcor Ltd., and Reynolds American Corporation are some of the leading manufacturers of the tobacco packaging market.

In February 2019, Smurfit Kappa Group Plc in Tijuana, Mexico inaugurated a new folding carton plant. This plant manufactures trays, boxes, and other carton material for industrial, food and beverage, consumer electronics, medical, and tobacco.

The secondary segment dominated and held the largest market share of 46.89% in the year 2019
On the basis of type, the global tobacco market segment is classified into bulk, primary, and secondary. The secondary segment dominated the market and held the largest market share of 46.89% in the year 2019. This is attributed to the rise in demand for innovative cigarette boxes and increase in consumption of cigarettes on social gatherings. The primary segment is anticipated to witness significant growth. This is attributed to its use in transportation, storage, and wholesale. Rising demand of innovative cigarette boxes and increasing consumption in social gatherings propels the market growth.

Paper box segment dominated and held the largest market share of 68.5% in the year 2019
On the basis of material, the global tobacco packaging market segment is classified into paper boxes, jute, plastic, and paper. Paper box segment dominated and held the largest market share of 68.5% in the year 2019. This is attributed to the largest use of paper boxes for tobacco packaging. Paper boxes are more preferable as plastic packaging cause diseases like skin cancer.

Smoking tobacco segment dominated and held the largest market share of 39.26% in the year 2019
On the basis of end-user, the global tobacco packaging market segment is classified into smokeless tobacco, smoking tobacco, and raw tobacco. Smoking tobacco segment dominated and geld the largest market share of 39.26% in the year 2019. This is attributed to large use in the packaging of tobacco products like bidis, cigars, and cigarettes.

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Regional Segment of Tobacco Packaging Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global tobacco packaging market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region accounted for the major market share of 33.9% in the year 2019. The growth is mainly due to the increasing consumption of cigarettes and chewing tobacco. Other countries in the Asia-Pacific such as Japan, India, and South Korea are witnessing significant growth, due to rising e-cigarette consumption.

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About the report:

The global tobacco packaging market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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