The global tobacco packaging market is estimated to reach USD 21.7 billion by 2025, according to a new report by Million Insights. The market is estimated to grow at a CAGR of 3.3% during the forecast period. Increasing demand for cigarette and tobacco products from young consumers is the key factor driving market growth. Further, the rise in the number of female smokers is positively affecting the market growth.
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Market Synopsis of Tobacco Packaging Market:
The rise in tobacco consumption
in China is anticipated to provide a lucrative opportunity for overall market
growth. Chewing tobacco along with smokeless tobacco is gaining traction in
China, which, in turn, is proliferating the demand for packaging products.
Further, the growing popularity of flavored tobacco among millennials is
positively driving the market growth.
Among different packaging types,
secondary packaging occupied the largest market share, in 2018. The growing
trend of cigar and cigarette consumption in social gatherings is fueling the
growth of this segment. Furthermore, the increasing popularity of premium
tobacco products among millennials is positively influencing the market growth.
In addition, the growing number of cigar lounges in emerging countries is
likely to drive the tobacco packaging market during the forecast years, 2019 to
2025.
Paper boxes are increasingly
becoming popular owing to the growing demand for environment-friendly packaging
solutions. Moreover, they are light in weight and can be carried easily from
one place to another. These properties of paper boxes make them an ideal
alternative to plastic.
Key players are emphasizing on
the use of environment-friendly packaging. Amcor has increased its expenditure
on the development of eco-friendly packaging, which the company is expecting to
launch, in 2025. Further, manufacturers are focusing on mergers and
acquisitions, partnerships and other initiatives to increase their product
portfolio. Japan Tobacco Group acquired Mighty Corporation in September 2017
with an aim to increase its product offering and geographical presence.
View Full Table of Contents of This Report @ https://www.millioninsights.com/industry-reports/global-tobacco-packaging-market
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Tobacco Packaging: Market
Variables, Trends & Scope
Chapter 4 Tobacco Packaging:
Product Estimates & Trend Analysis
Chapter 5 Tobacco Packaging:
Application Estimates & Trend Analysis
Chapter 6 Tobacco Packaging:
End-use Estimates & Trend Analysis
Chapter 7 Tobacco Packaging:
Industrial End-use Estimates & Trend Analysis
Chapter 8 Tobacco Packaging:
Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Tobacco Packaging:
Manufacturers Company Profiles
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