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Tobacco Packaging Market Insights
Tobacco is a legal stimulant which is used popularly across the globe in various forms. Maintaining a tobacco product's quality requires the use of proper packaging to prevent contamination of bacteria and aroma transmission. Market Research Future has examined the global tobacco packaging market for the forecast period from 2018 to 2023. Valued at USD 14.28 Bn, the tobacco packaging market is on track to witness growth at a moderate CAGR of 3.1% during the review period. The growth trajectory for the market is likely to result in estimated market value of USD 16.65 Bn by 2023.
Packaging plays a vital role in providing consumers about the contents and health hazards they should keep in mind before consumption. Due to the hazardous effects of overconsumption of tobacco, many governments across the globe have made it mandatory for packaging to reflect the dangers of consuming tobacco. This makes packaging all the more vital as manufacturers also need to display proper branding on the packaging. Tobacco consumption has grown over the years, in part due to the growing demand from an expanding population, as well as, the growth of urban areas. Urbanization has resulted in massive lifestyles changes making day-to-day life more stressful, and hectic due to the increased workload. Moreover, there are many types of tobacco products ranging from pipes to chewing tobacco in a range of flavors which drives the consumption of tobacco. As a result, the demand for tobacco packaging is also growing. Additionally, women are also featuring as an important demographic in the global tobacco packaging market. Thus driving the tobacco packaging market.
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However, increasing mandates regarding the depiction of mouth cancer and other diseases caused by tobacco to discourage smoking in an effort to reduce lung diseases are expected to hinder market growth. However, the presence of smokeless tobacco in the market will likely lead to new opportunities for growth.
Key Players
MRFR's assessment of the competitive roles of leading market players has been included in the report along with the leading market growth strategies that they use. Notable market players that have been included in the report are
• WestRock (U.S.)
• ITC (India)
• Reynolds American Corporation (U.S.)
• Sonoco (U.S.)
• Innovia Films (U.K)
• Philip Morris International Inc. (U.S.)
• Mondi Group (South Africa)
• British American Tobacco (U.K)
• Amcor Ltd. (Australia), and Novelis (U.S.).
Industry Overview
Many cigarette manufacturing companies have developed niche brands appealing to women. However, the growing awareness of death and illness due to tobacco consumption and stringent regulations imposed by government is restricting the growth of the market.
The regulations come in to force on 14 March 2018, meaning that all cigarettes and tobacco products will need to be in brown/green-coloured packaging, with enlarged health warnings and brand names in a plain standardised font. The Government has introduced these regulations as part of its aspirational goal to reduce the appeal of tobacco products and smoking, particularly for children and young people and see region ‘Smoke free’ by 2025
Market Segmentation
The global Tobacco Packaging Market has been segmented in MRFR's report on the basis of material, type, end-use, and region. Material used in tobacco packaging has been broadly segmented into film, jute, plastic, and paper box. Research indicates that the paper box packaging segment is likely to thrive due to its eco-friendly and cost-effective attributes.
Types of tobacco packaging have been segmented into secondary, primary, and bulk. Secondary packaging has the largest market share is expected to grow with the most significant CAGR during the review period.
End-use has been segmented to include raw tobacco, smoking tobacco, and smokeless tobacco.
Regional Analysis
Regions covered in the global tobacco packaging market report include the Americas, Asia Pacific, Europe, and the Middle East and Africa. Some of the leading economies that inspire growth for the tobacco packaging market include China, India, the U.S, Brazil, and South Korea. These countries are among the top tobacco manufacturing countries across the globe with China alone producing roughly 2.8 million metric tonnes of tobacco. China and India have some of the highest numbers of smokers due to the presence of a massive population and the presence of a large number of youth in these countries. Brazil and certain African countries are growing as tobacco products and are growing as participating countries in the market.
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Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Phone: +1646 845 9312
Website: https://www.marketresearchfuture.com/reports/tobacco-packaging-market-1292
Release ID: 512519
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