Global Tobacco Packaging Market was valued at US$ 14.80 Bn in 2019 and is expected to reach US$ 18.8 Bn by 2027, at a CAGR of 3.48% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Based on the material type, the paper box segment is projected to drive the global tobacco packaging market during the forecast period as it has features such as eco-friendly and cost-effectiveness. Growing awareness regarding issues of the non-biodegradable nature of plastic and metal packaging, which is influencing demand for the paper box packaging across the globe. On the basis of type, secondary segment held the largest share in 2016 and also expected to continue its dominance in forecast period as growth in consumption of cigarettes in social gatherings and increased demand for the innovative cigarette boxes, which are boosting demand for the secondary packaging solutions across the globe.
The global tobacco packaging market is witnessing vibrant growth as stressful lifestyles coupled with an increase in per capita income. Various countries have equality laws for women which are developing a new market for female smokers, which is expected to propel the global tobacco packaging market growth in the near future. In addition, the growing population and the technological advancements, which are estimated to surge the global tobacco packaging market growth in the forecast period.
Global tobacco packaging market is driven by the growth in production of cigarette across the globe. Growing consumer’s inclined towards the use of stimulants and anti-depressants, cigarettes to manage stress and weight issues. Rapid urbanization and increased popularity of cigarettes among youth population across the globe, which are surging the global tobacco packaging market growth in a positive way. However, increasing awareness regarding health issues regarding the consumption of tobacco products among consumers, which is estimated to hamper market growth in the forecast period.
In terms of region, the Asia Pacific is expected to hold the largest share in the global tobacco packaging market during the forecast period owing to rising demand for the tobacco products such as cigarettes among consumers in this region. China and India are projected to boost the global tobacco packaging market during the forecast period as increased expansion of the economy. Moreover, the rising population coupled with an increased disposable income of consumers in these countries, which is surging global tobacco packaging market growth in a positive way.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Tobacco Packaging Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Tobacco Packaging Market.
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Scope of the Report Tobacco Packaging Market: Inquire before buying
Global Tobacco Packaging Market, by Type
Global Tobacco Packaging Market, by Material Type
• Paper box
Global Tobacco Packaging Market, by End-use
• Smoking Tobacco
• Smokeless Tobacco
• Raw Tobacco
Global Tobacco Packaging Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Tobacco Packaging Market
• Amcor Limited.
• Innovia Films
• WestRock Company.
• ITC Limited
• British American Tobacco
• Sonoco Products Company
• PHILIP MORRIS INTERNATIONAL MANAGEMENT SA
• Reynolds American Inc.
• International Paper.
• Bemis Company, Inc.
• Packaging Corporation of America
• Siegwerk Druckfarben AG & Co. KGaA
• Smurfit Kappa
• Altria Group, Inc
• Ardagh Group S.A.
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