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The global tobacco packaging market size stood at USD 17.63 billion in 2022. The market value is slated to rise from USD 18.23 billion in 2023 to USD 25.24 billion by 2030 at a CAGR of 4.76% during 2023-2030. Fortune Business Insights™ presents this information in its report, titled “Tobacco Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Plastic, Paper, Paperboard, and Others), By Product Type (Boxes, Folding Cartons, Films & Wraps, Bags & Pouches, and Others), By Packaging Type (Primary and Secondary), and Regional Forecast, 2023-2030” The expansion can be credited to the growing restrictions by the government over advertising tobacco products via other advertising channels. Due to this factor, packaging serves as the only platform to promote the products.
Halt in Supply Chain Negatively Impacted the Market Growth
The COVID-19 pandemic had a significant influence on the market. A halt in the supply chain led to a delay in the procurement of materials such as inks, cardboard, and paper, which are utilized for tobacco packaging. Moreover, the pandemic highlighted health and safety concerns, which compelled companies and governments to focus on health warnings and anti-smoking labels on the products.
Siegwerk Opened a Warehouse Facility at Tauru to Meet the Growing Demand for Packaging Inks
In April 2022, Siegwerk, a prominent manufacturer of printing coatings and inks for packaging applications, announced the opening of a color matching and warehouse facility at Tauru, Haryana. This move aimed to cater to the rising demand for packaging inks in India.
Market Value to Grow Owing to Rising Consumption of Smokeless Tobacco Forms
Tobacco packaging market growth is driven by increasing consumption of smokeless forms of tobacco. Moreover, this form of tobacco has witnessed high demand owing to the growing harmful implications of smoke emitted during tobacco consumption on smokers and passive smokers, especially in children. Hence, smokeless products such as snus, chewing tobacco, gum, and snuff have gained traction as alternatives to cigarettes.
Despite such growth opportunities, strict guidelines on the consumption and marketing of tobacco may hinder the market growth.
Prominent Market Players Emphasize Mergers and Acquisition Strategies to Maximize their Revenue
Key tobacco packaging manufacturers are implementing various strategic initiatives to boost their market value. Several companies are investing substantial amounts in R&D to launch innovative products in the tobacco packaging space. Market players are also focusing on mergers and acquisition strategies to sustain their industry leadership.
List of Key Players Profiled:
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Key Industry Development
September 2020- LLFlex, a leading manufacturer of packaging materials and industrial laminate products for consumer packaging, completed the acquisition of Hampden Papers. It helped the company expand its consumer packaging offerings of packaging niches, such as film, paper, foil-based packaging for food & beverage, transfer-metalized paper, and others.
Further Report Findings
Table of Segmentation
CAGR of 4.76% from 2023 to 2030
Value (USD Billion) and Volume (Kiloton)
By Product Type
By Packaging Type