Dublin, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The "Tobacco Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global tobacco packaging market size reached US$ 17.5 Billion in 2022. Looking forward, the market is set to reach US$ 20.9 Billion by 2028, exhibiting a growth rate (CAGR) of 2.95% during 2023-2028.
Tobacco, a prominent member of the Solanaceae or nightshade plant family, is primarily consumed for its nicotine content. The essence of the tobacco packaging industry is preserving the dried tobacco leaves' quality, flavor, and aroma, catering to products like cigarettes, cigars, and raw tobacco.
Various materials dominate the tobacco packaging landscape, including paperboards, foils, laminates, metal cans, and more modern plastic-based films. The market also witnesses diverse commercial packaging styles, such as hinge-lid containers, stand-up pouches, and bundle wraps, reflecting the industry's adaptability and consumer preferences.
In essence, as the industry undergoes transformations and accommodates evolving consumer preferences, the global tobacco packaging market anticipates sustained growth and diversification.
A few driving forces behind the growing demand in this market include:
- Urbanization & Youth Appeal: The rising urban settings and cigarettes' allure among young adults spur market growth.
- Modern Lifestyle Factors: Stressful routines, mounting workloads, and the hectic pace of life amplify tobacco consumption, especially among professionals.
- Nicotine as a Coping Mechanism: Acting as both a stimulant and anti-depressant, nicotine offers a temporary escape from daily challenges for many.
- Innovative Product Variants: The market has seen the introduction of unique tobacco products, such as super-slim cigarettes and Roll-Your-Own-Cigarettes (RYOC), targeting diverse demographics.
- Packaging Innovations: To captivate consumer attention, brands are exploring limited-edition packs, slide opening packs, and other design novelties.
- Flexible Packaging Trend: Recognized for its barrier properties and cost-effectiveness, flexible packaging emerges as a preferred choice for tobacco products.
Key Questions Answered in This Report
- How big is the global tobacco packaging market?
- What is the expected growth rate of the global tobacco packaging market during 2023-2028?
- What are the key factors driving the global tobacco packaging market?
- What has been the impact of COVID-19 on the global tobacco packaging market?
- What is the breakup of the global tobacco packaging market based on the material type?
- What is the breakup of the global tobacco packaging market based on the packaging type?
- What is the breakup of the global tobacco packaging market based on the end use?
- What are the key regions in the global tobacco packaging market?
- Who are the key players/companies in the global tobacco packaging market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $17.5 Billion |
| Forecasted Market Value (USD) by 2028 | $20.9 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being
- Amcor plc
- China National Tobacco Corporation
- Innovia Films
- Philip Morris International Inc.
- ITC Limited
- International Paper Company
- Japan Tobacco International
- Siegwerk Druckfarben AG & Co. KGaA
- WestRock Company
- Sonoco Products Company
- Smurfit Kappa Group plc
- Mondi Group
- Reynolds Group Holdings Limited
- Oracle Packaging
Key Market Segmentation:
Breakup by Material Type:
- Paperboards
- Paper Boxes
- Plastic
- Jute
- Metal
- Others
Breakup by Packaging Type:
- Primary Packaging
- Secondary Packaging
- Bulk Packaging
Breakup by End Use:
- Smoking Tobacco
- Cigarettes
- Cigars
- Smokeless Tobacco
- Chewing Tobacco
- Snuff
- Dissolvable Tobacco
- Others
- Raw Tobacco
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
For more information about this report visit https://www.researchandmarkets.com/r/ihb30s
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
