Tobacco Packaging Market 2022 - Business Strategies, Product Sales and Growth Rate, Assessment to 2027

The Tobacco Packaging market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Tobacco Packaging Market share and Market size prominent players for 2020 to 2027 are profiled in this report.

The Tobacco Packaging Market is expected to register a CAGR of 3.32% over the forecast period 2022 - 2027.

Competitive Landscape: WestRock Company,  Amcor Limited,  The International Paper Company,  Smurfit Kappa Group PLC,  Mondi Group,  Innova Films Limited,  Phillip Morris International Inc.,  Sonoco Products Company,  Siegwerk Druckfarben AG & Co. KGaA,  Japan Tobacco International,  Treofan Film international,  Stora Enso Oyj and Others

Industry News:

In May 2020, Stora Enso Oyj announced to launch Box Inc, a digital B2B marketplace for carton packaging made of renewable materials. Box Inc is a new platform business designed to help companies source packaging easily online while enabling suppliers to access new customers without having to create their own digital presence?.
In June 2019, Amcor completed the acquisition of Bemis. As a result, Amcor strengthened its position in consumer packaging, enjoying even greater attraction for talent, global reach, scale, and technical capabilities.

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Scope of the Report:

Owing to the growing consumption of cigarettes and tobacco, the market for tobacco packaging is witnessing considerable growth potential. Nearly 6.5 trillion cigarettes are being sold across the world every year, which translates to roughly 18 billion cigarettes per day. Furthermore, there are 1.1 billion tobacco consumers globally, according to the Action on Smoking and Health (ASH). This number is anticipated to grow to 1.6 billion over the next two decades.
Furthermore, the packaging market for tobacco has been witnessing mandatory regulations regarding avoiding attractive packaging and adopting plain packaging. The market for tobacco packaging has witnessed a significant shift toward plain packaging over the past eight years . According to WHO, plain packaging is a considerable demand reduction measure that reduces the attractiveness of tobacco products, restricts the use of tobacco packaging as a form of tobacco advertising and promotion, limits misleading packaging and labeling, and increases the effectiveness of health warnings .

Key Market Trends:

Secondary Packaging to Witness Significant Demand

Like other sensitive goods, tobacco products such as cigarettes require packaging, which provides barrier properties to deliver the product in optimum condition. Secondary packaging, such as flexible packaging, has eventually become the traditional packaging for tobacco and typically includes functionality such as re-closable or re-sealable laminated film pouches and bags. These packs have a new flow-wrapped outer film, all contributing to the barrier requirements.
Vendors in the market are rapidly expanding their manufacturing plants, intending to increase their production capacity, and gain a larger share of the industry revenue pie. For instance, in February 2019, a new folding carton plant was inaugurated by Smurfit Kappa Group Plc in Tijuana, Mexico. Boxes, trays, and other folding carton materials are being manufactured at this facility for industrial, consumer electronics, food and beverage, medical, and tobacco industries.

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Asia Pacific to Hold a Major Share

Asia-Pacific is anticipated to register a significant share, owing to the presence of widespread population consuming tobacco. The presence of the largest tobacco consuming country, China, with over 300 million smokers, has been significantly contributing to the market studied.
Furthermore, the country produces colorful and attractive tobacco packages, unlike several other countries producing plain packages. There is a high prevalence of cigarette packets bearing images of famous rivers, maintains, rare and precious national treasures, well-known buildings, historical sites, and rare flowers. For instance, the major Chinese cigarette brands, including Panda, Peony, Chunghwa, Mount Huangshan, and The Pavilion of Prince Teng, have such designs or images on their packaging.

Regional Analysis for Tobacco Packaging Market:

North America, Latin America, Asia-Pacific, Africa, Europe, and others have been studied at length based on various parameters of businesses such as type, size, application, and end-users.  The global Tobacco Packaging Market is presented for niche reading. The report presents portfolios of different strategies and the best practices governing businesses. Some applicable sales methodologies have been included in this research report, that could influence business output.

Highlights about Tobacco Packaging report coverage:

- A complete background analysis, which includes an assessment of the Global Tobacco Packaging Market.

- Important changes in Tobacco Packaging market dynamics

- Tobacco Packaging Market segmentation up to the second & third level regional bifurcation

- Historical, current, and projected size of the Tobacco Packaging market with respect to both value (Revenue) and volume (Production & Consumption)

- Reporting and evaluation of recent Tobacco Packaging industry developments

- Tobacco Packaging Market shares and strategies of key players

- Emerging niche Tobacco Packaging segments and regional markets

- An objective assessment of the trajectory of the Tobacco Packaging market

- Recommendations to companies for strengthening their foothold in the Tobacco Packaging market

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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