New York, USA, Sept. 05, 2022 (GLOBE NEWSWIRE) -- Tobacco Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Tobacco Packaging Market Information by Type, Material, End Use, And Region - Forecast till 2030”, the market is estimated to grow at a 3.80% CAGR to reach USD 17,423.50 Million by 2030.
Market Synopsis
Tobacco is a nightshade plant that belongs to the Solanaceae family. It is an agricultural creation made from tobacco leaves that have been cured. Tobacco is commonly used for smoking and chewing because of its high nicotine concentration, which works as a stimulant. It contains the extremely addictive stimulant nicotine and is found in various products. The tobacco packaging industry packages dried tobacco leaves in cigars, cigarettes, dissolvable tobacco, and shishas. Cigarettes, made up of precisely cut tobacco leaves rolled in thin paper, are one of the most extensively used tobacco products. On the other hand, Cigars are larger and do not always come with a filter. However, the packaging items are the only way for tobacco products to be promoted
Tobacco packaging is distinctive in that producers are only allowed to print the brand name in a specific typeface, size, and location. Colors, photos, company logos, and trademarks are all prohibited. They must also include a health warning and harmful ingredients in the box. Tobacco goods are enhanced and protected from external influences during transportation by packaging. The packaging is crucial because it acts as a moisture barrier and protects the packed tobacco from bacteria, odor transmission, and deterioration. Several governments have adopted the notion of simple packaging to limit tobacco consumption in their own country. Tobacco packaging makers have very little room to innovate and develop new package items due to this. As a result, packaging businesses seize every chance to create appealing packaging that complies with all legal requirements.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 17,423.50 Million |
| CAGR | 3.80% (2021–2030) |
| Base Year | 2020 |
| Forecast Period | 2021–2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Material, End Use, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Populations are growing rapidly in developing nations |
| Lifestyles around the world are changing dramatically |
Market Competitive Landscape:
The distinguished players in the tobacco packaging market are:
- Amcor Ltd. (Australia)
- Novelis (U.S.)
- British American Tobacco (U.K)
- Sonoco (U.S.)
- Innovia Films (U.K)
- WestRock (U.S.)
- Mondi Group (South Africa)
- ITC (India)
- Philip Morris International Inc. (U.S.)
- Reynolds American Corporation (U.S.)
Market USP Covered:
Market Drivers:
Consumer preference for tobacco as a relaxing habit that relieves tension and anxiety, combined with continual innovation in ingredients, nicotine content, flavor, and size, accelerates tobacco uptake and results in market development. The fact that populations in emerging countries are quickly rising is the primary driver of tobacco market expansion. Women's smoking is no longer regarded as taboo, especially in emerging countries, and lifestyles are altering radically. The rising weight concerns, intensifying popularity of flavored cigars, and the entrance of numerous cutting-edge packaging innovations will all contribute to significant market growth.
Market Restraints:
Tobacco is a cancer-causing chemical. Tobacco use can cause mouth cancer and respiratory problems. Consumer awareness and government laws may stifle the growth of the cigarette packaging market. However, rising government limits on cigarettes, an increase in anti-smoking activities, and an increase in other respiratory illnesses may limit product market presence.
Browse In-depth Market Research Report (115 Pages) on Tobacco Packaging: https://www.marketresearchfuture.com/reports/tobacco-packaging-market-1292
COVID 19 Analysis
Early on, governments recognized that the infection was harmful and potentially fatal. For this reason, they instituted lockdowns and quarantines. Companies in the tobacco packaging industry were no different. During the height of the pandemic, worldwide sales plummeted. This was done because tobacco products harm the lungs, making people more susceptible to COVID-19. As a result, several cigarette businesses were forced to close their doors permanently.
Since the virus spread, sales of tobacco products have fallen due to decreased demand, supply chain disruptions and the closure of retail establishments selling the goods. This lower demand is expected to impact tobacco packing directly in the short term.
Market Segmentation
By Material
Paper boxes are used by most tobacco packaging companies, making them the most popular packaging option.
By Type
Currently, the secondary sub-segment has the biggest market share.
By End-User
According to estimates, the smoking tobacco sub-segment will lead the market.
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Regional Insights
Due to the large group of individuals who use tobacco, Asia-Pacific is expected to have a big share. Furthermore, unlike numerous other countries that make plain cigarette packets, the region's countries develop colorful and appealing tobacco packages. These are some of the characteristics of the tobacco industry that encourage the development of a distinct brand and visual culture from that of other countries. The signs and designs on cigarette packaging convey a powerful and deep sense of traditional culture's heritage and a sense of national pride, which stimulates tobacco usage and so expands the country's tobacco package market. Increased rules in the region governing the use of plain packaging and graphic warnings about tobacco use have had a substantial restraining effect.
China is expected to lead the worldwide markets by the forecast period, owing to a steady increase in cigarette consumption. Other Asian Pacific countries, such as India, Japan, and South Korea, are expected to follow suit. In terms of the rest of the world, the Middle East is expected to have a higher demand for tobacco packaging by the end of the forecast period, owing to the traditional use of shishas or water pipes. Europe is currently one of the biggest cigarette exporters, with Germany and France ranking first and second, respectively, in cigarette production. However, due to the current economic recession and high government taxes and regulations, demand for cigarette packaging is expected to fall in the future years. Over the last few years, the general rate of domestic cigarette consumption has fallen in the North American region.
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