Tobacco Packaging Market Overview
Tobacco is made from the leaves of the tobacco plant which belongs to the genus Nicotiana and nightshade plant family. The packaging of tobacco is a vital part of the prevention from bacteria and aroma transmission. The global tobacco packaging market is expected to witness fast-paced growth during the forecast period. The latest report published on Market Research Future (MRFR) website suggests that the global tobacco packaging market is expected to exhibit a 3.1% CAGR between 2017-2023. Such ascension is bound to enable the global tobacco packaging market to garner a revenue valuation of USD 16.65 billion by the end of the forecast period.
Various factors are attributable to the upscaling of the global tobacco packaging market including a rise in the consumption of tobacco products such as cigarettes, cigars, e-cigarettes, dissolvable tobacco, pipe, hookah cigarettes, and smokeless tobacco for chewing or dipping. Further, the growing population and changing the lifestyle of people is fostering the growth noted in the consumption of tobacco, pushing sizeable growth of the tobacco packaging market. On the other hand, technological advancements in the packaging industry are contributing heavily to the growth of the global tobacco packaging market. Stressful lifestyles, increased workload, and rising number of female smokers are enabling higher sales of tobacco-based products, accelerating the demand for tobacco packaging during the forecast period.
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Key Players
The global tobacco packaging market is highly impacted by the activities and strategies undertaken by the prominent players in the market, during the conjecture period. Some of the significant players prevailing in the global tobacco packaging market include
- Amcor Ltd. (Australia)
- Innovia Films (U.K)
- WestRock (U.S.)
- Mondi Group (South Africa)
- ITC (India)
- Novelis (U.S.)
- British American Tobacco (U.K)
- Sonoco (U.S.)
- Philip Morris International Inc. (U.S.)
- Reynolds American Corporation (U.S.).
Industry Update
July 2019: Singapore’s Ministry of Health had announced the standardization in the packaging of all tobacco products in October. The Tobacco Regulations 2019 was published on July 1st, 2019, and are to be put in operation staring 12 months from such date.
Global Tobacco Packaging Market Segmentation
The global tobacco packaging market is segmented on the basis of material, type, application, and region. Based on application, the global tobacco packaging market is segmented into smokeless tobacco, smoking tobacco, and raw tobacco.
Based on material, the global tobacco packaging market is segmented into film, jute, paper box, and plastic. Among these segments, the paper box segment is expected to witness fast-paced ascension owing to the rising concern towards the environment and the cost-effective nature of this material.
Based on type, the global tobacco packaging market is segmented into bulk, primary, and secondary. The secondary packaging segment held the largest share of the global tobacco packaging market in the base year and is also expected to elevate at the highest CAGR during the forecast period.
Detailed Regional Analysis
The global tobacco packaging market is regionally segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. At the beginning of the forecast period, China produced the highest amount of tobacco and was the largest consumer of tobacco packaging products across the globe, hence, leading the country-specific market in Asia Pacific. Other significant country-specific markets for tobacco packaging market include India and South Korea. These countries are witnessing fast-paced growth in the consumption of the tobacco packaging market owing to the rising prevalence of population and growing consumption of tobacco products in the younger bracket of such populace. Economies of Brazil and Zimbabwe are highly dependent on the production of tobacco; hence, rising production of tobacco in these countries is fostering the growth of tobacco packaging market in these countries. Within North America, the US is projected to garner the largest share of the tobacco packaging market, as per the MRFR analysis.
Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
Continues…..
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