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Tobacco Packaging Market Size to Reach USD 20.45 Billion by 2027, Rising Popularity of Smokeless Tobacco Forms Adding Impetus to Market

June 05, 2020 | Chemicals & Materials

The global tobacco packaging market size is anticipated to hit USD 20.45 billion by 2027 attributable to the increasing number of smokers and the demand for cigarettes worldwide. Tobacco packaging is essential for maintaining the quality and authenticity of the product and to protect it from bacteria, and aroma transmission. As per a recent report by Fortune Business Insights titled, “Tobacco Packaging Market Size, Share & Industry Analysis, By Material (Plastics, Paper, Paperboard, and Others), By Packaging Type (Primary and Secondary), and Regional Forecast, 2020-2027,” this market value was USD 16.15 billion earned in 2019 and is likely to rise at a CAGR of 3.0% between 2020 to 2027.


Molins Plc Joined Hands with Coesia Group to Expand their Product Offerings


The Instrumentation & Tobacco Machinery business belonging to Molins Plc. was acquired by the Coesia Group in June 2017. Following the signing of this joint venture, trademarks of both Cerulean and Molins will be transferred to Coesia. The main objective of this joint venture is to strengthen the position of the company and work with instruments of quality control and machinery that can capture smoke constituent, under one brand name, i.e. Cerulean.


The CEO of the Coesia Group, Angelos Papadimitriou said, “This joint venture will strengthen the bond between the companies and emerge among the top companies in the tobacco machinery industry. We aim at increasing our product offering in the machinery and equipment sector as well, that will ultimately multiply the overall production and thereby gain handsome revenue in the years to come.” Such strategic collaborations are likely to aid in the expansion of the market in the coming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/tobacco-packaging-market-102865


Rising Popularity of E-cigarettes to Augment Growth


The rise in the number of smoker’s population is considered as the key factor in promoting the tobacco packaging market growth. The rising demand for cigarettes and cigars is also boosting the market.


However, various regulations imposed on the advertising of tobacco products does not leave many options for manufacturers but to depend on packaging design for advertising. This is likely to bode well for the market in the coming years. This, coupled with the increasing prevalence of various health issues may cause major hindrance to the market in future years. Nevertheless, the advent of smokeless tobacco in the form of snus, gum, snuff, gutka, and chewing tobacco is likely to create lucrative growth opportunities for the market in the forecast duration.


Adoption of Novel Technologies for Production – Key Objective of Players


The global tobacco packaging market is highly fragmented owing to the presence of many players. A majority of them are indulging in research and development of better packaging techniques with attractive appearances to gain a foothold in the market. Others are focusing on the development of a strong network of distribution for increasing their product portfolio and ultimately gaining momentum in the future market.


Notable Industry Developments of Market include:



  • July 2019 – Two packaging facilities belonging to DS Smith located in France and Portugal were acquired by International Paper for USD 71 million for serving consumers with innovative packaging solutions.


List of Notable Players of this Market are:



  • WestRock (US)

  • Smurfit Kappa (Ireland)

  • Sonoco (US)

  • Schweitzer-Mauduit International, Inc. (US)

  • ITC Limited (Kolkata)

  • Amcor Limited (Australia)

  • International Paper (US)

  • Mondi Group (Austria)

  • Siegwerk Druckfarben AG & Co. KGaA (Germany)

  • Innovia Films (UK)

  • Other Vendors


Further Report Findings



  • Asia Pacific held the dominant market share with a revenue of USD 9.30 billion earned in 2019 owing to the rising demand for cigarettes. Japan, China, and India are the leading players in this region.

  • With respect to segmentation by material, the market is dominated by the paperboard segment. However, the paper segment ranks second with a 17.6% share in the market.


This Market is segmented into:








































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



   Value (USD Billion), Volume (KT)



Segmentation



By Material



  • Plastics

  • Paper

  • Paperboard

  • Others



By Packaging Type



  • Primary

  • Secondary



By Region



  • North America (the U.S. and Canada)

  • Europe (Germany, France, UK, Italy, Spain, Russia, and the Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, Southeast Asia, and the Rest of Asia Pacific)

  • Latin America (Mexico, Brazil, Argentina, and the Rest of Latin America)

  • The Middle East& Africa (GCC, Egypt, South Africa, Turkey, and the Rest of the Middle East & Africa)


Tobacco Packaging Market
  • PDF
  • 2019
  • 2016-2018
  • 200

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  • 4850
    6850
    8850

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