NEWARK, Del, Nov. 14, 2023 (GLOBE NEWSWIRE) -- The cigarette paper market is likely to hold a valuation of US$ 552.8 million by 2034. In 2024, the market value is estimated to be US$ 407.3 million. As individuals worldwide seek affordable smoking options, the cigarette paper market is expected to expand by 3.10% from 2024 to 2034.
As per various studies conducted worldwide, nearly 1.1 billion people in the world smoke tobacco products. A major part of this population resides in developing and underdeveloped nations where the per capita income is lower than the global average, and the demand for cost-effective smoking alternatives has been experiencing exponential growth. With cigarette papers, smoking enthusiasts can make their cigarettes by using their desired tobacco products.
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In the past few years, the world has also been experiencing a considerable inclination toward products made from sustainable materials. Key players in the industry have already started developing cigarette papers made from hemp, wood pulp, etc. This move will not only appeal to the younger population concerned about the environment but also reduce the carbon footprint these companies leave during the manufacturing process of these products.
Apart from all these factors, cigarette papers also offer considerable flexibility and options for the smoking experience to the consumers. In countries like China, the current trend of ROY cigarettes has been a major contributor to the overall expansion of the cigarette paper industry. The cultural significance of smoking in many countries, like Japan, Korea, etc., has also been one of the major drivers for its growth in the past few years.
“The market for cigarette papers has a huge potential as the number of smokers in the world is growing continuously. The average per capita income across the world is rising, and people are investing a considerable amount in leisure activities. The cigarette paper manufacturers can capitalize on this trend to gain higher profits in the market”, opines an Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Cigarette Paper Market Report:
- The cigarette paper market is expected to grow at a 3.10% CAGR over the forecast period from 2024 to 2034.
- Hemp cigarette paper dominates the global cigarette paper market, with an overall revenue share of 60.50%.
- When it comes to weight, the 10 to 25 GSM paper segment captures a significant 67.30% share of the global cigarette paper market revenue.
- India is the leading market for cigarette papers, with a remarkable growth rate of 6.70% CAGR from 2024 to 2034.
- India is followed by China (5.90%), Japan (5.20%), and Australia (4.40%) in terms of cigarette paper market growth.
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Competitive Analysis of the Cigarette Paper Market
The global market for cigarette paper is bustling with numerous established players. The market has already reached a level of saturation where it calls for sustainable alternatives.
Key players have already invested billions of dollars in response to this demand. Small entrants have a difficult time competing with big giants as they have to face challenges like low-profit margins, limited geographical reach, scarce financial resources, etc. As the population of smokers in developing countries continues to increase, it is projected that the market for cigarette papers is very likely to experience an upward trajectory.
Key Companies
- Schweitzer-Mauduit International, Inc.
- Delfort Group AG
- Republic Technologies International
- Richer Paper Co., Ltd.
- Pura Group
- The Rolling Paper Company
- Glatz Group
- Hangzhou Huafeng Paper Co., Ltd.
- Miquel Y Costas
- Nippon Paper Papylia Co., Ltd.
- Mudanjiang Hengfeng Paper Co., Ltd.
- Moondust Paper Pvt. Ltd.
Recent Developments
- Several European countries introduced new taxes on cigarette papers in 2023. The primary objective behind these tax implementations is twofold: to curb tobacco consumption and generate additional revenue to support public health programs.
- In 2022, the European Union implemented stricter regulations on flavored cigarette papers. These regulations specifically target certain flavors and aim to restrict their availability and appeal to minors.
- GIZEH, a key player in the cigarette paper market, recently launched a recycling program for its packaging. This initiative aims to encourage responsible disposal of packaging materials.
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Key Segments of Cigarette Paper Industry Research
By Type:
- Cigarette Tissues
- 1¼
- 1½
- Single Wide
- Double Wide
- King Size
- Plug Wrap Paper
- Tipping Paper
- Rolling Paper
By Pulp Material:
- Flax
- Wood Pulp
- Hemp
- Rice Straws
- Esparto
- Mixed
By Basis Weight Range:
- 23 to 40 GSM
- 17 to 28 GSM
- 28 to 40 GSM
- 12 to 27 GSM
By Application:
- Cigarette Manufacturing
- Roll Your Own
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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- The global machine glazed kraft paper market is projected to reach US$ 14.5 Billion by 2030, at a CAGR of 6% from 2022 to 2030.
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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