Tobacco Packaging Market: Growth Opportunities Worldwide By 2018-2024
Tobacco Packaging Market will be chiefly driven by
increasing worldwide cigarette sales. Tobacco and paper are hygroscopic
materials and are affected by the ambient humidity. If ambient humidity is
high, they will tend to absorb moisture whereas if humidity is low, moisture
will be drawn from the materials, drying them out and degrading their
properties. Thus, the packing of these products is important to retain its
properties and quality.
Developments in the global cigarette industry will
augment the tobacco packaging market during the forecast period. The cigarette
industry is one of the most profitable industry in the world generating retail
sales worth more than USD 680 billion in 2016. In the same year more than 5.5
trillion cigarettes were sold worldwide with global volumes sales increasing by
1.3% from 2002 to 2016. The industry is also witnessing shifting of sales from
traditional developed markets such as North America and Western Europe to
emerging markets such as Asia Pacific and Africa. This shift can be attributed
to restrictions given by respective governments of developed countries towards
cigarette smoking and sales. The high volume of worldwide cigarette sales
coupled with the shifting consumption patterns in the industry will drive
demand for tobacco packaging market during the forecast perio
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Government
restrictions relating to smoking of cigarettes as well as for product sales
will be a major restraining factor for the tobacco packaging market growth.
Most governments have formulated regulations restricting the use of attractive
packing of these products. Governments have been promoting the use of plain
packaging for tobacco products, that is the removal of all branding such as
colors, logos, imagery, etc. Various governments have also been raising the
price of these products as that reduces consumption and promotes community
health. Factors such as these will have a considerable impact on the tobacco
packaging market and will hinder the industry growth during the forecast
period.
The tobacco
packaging market has been segmented, based on material, into paper, paper box,
plastic, jute, and others. Paper box will be a key material segment that is
likely to occupy a substantial share of the market during the forecast period.
Almost all cigarette packets are made of paper box materials and the high
volume of cigarette sales will be the major contributor for the paper box
material segment’s growth in coming years. Plastic material segment is likely
to register a fast growth rate as they are extensively used for wrapping
cigarette packets for protection against the adverse effects of moisture.
According to
type, the tobacco packaging market has been segmented into primary, secondary,
and tertiary. Primary packing refers to the first layer of packing in which the
product is contained. This segment is likely to register strong growth rates
and will occupy a significant share of the industry as they are integral to any
tobacco product packaging. Secondary packing is done not only to protect the
product but also the primary packing. This segment will also occupy a
considerable share of the market as they are extremely necessary while
transportation, storage, and wholesale.
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Based on
end-use, tobacco packaging market is segmented into smoking, smokeless, and raw
tobacco. Smoking segment is likely to account for a considerable share of the
industry as packing of smoking product types such as cigarettes, cigars and
bidis require extra protection against moisture. Smokeless end-user segment
will also account for a considerable share of the global tobacco packaging
market during the forecast timeframe.
Asia Pacific
is likely to be the most significant tobacco packaging market owing to shifting
consumption trends, increasing production volumes for raw product as well as
increasing cigarette production in the region. Europe will also be a key
tobacco packing market which will occupy a significant share. Middle East &
Africa region is likely to witness fast growth rates during the forecast
timeframe owing to the rising trend of cigarette smoking in the region.
Some
of the key market participants in the global tobacco packaging market includes
Amcor, ITC, International Paper, Bemis, Phillip Morris International, British
American Tobacco, Novelis, Mondi, Packaging Corporation of America, Siegwerk,
Reynolds Group, WestRock, Sonoco, etc.
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Tobacco Packaging Market: Growth Opportunities Worldwide By 2018-2024
Reviewed by GMI
on
August 01, 2018
Rating:
Reviewed by GMI
on
August 01, 2018
Rating:
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