The report "Tobacco
Packaging Market by Material (Paper, Paper Boxes, Plastic,
Jute), Type (Primary, Secondary, Bulk), End Use (Smoking Tobacco, Smokeless
Tobacco, Raw Tobacco), and Region - Global Forecast to 2022", The tobacco packaging market size is estimated to grow
from USD 14.27 Billion in 2017 to USD 16.65 Billion by 2022, at a CAGR of 3.1%.
Browse 161 market
data tables and 33 figures spread through 162 pages and in-depth TOC on "Tobacco Packaging Market by Material (Paper, Paper Boxes,
Plastic, Jute), Type (Primary, Secondary, Bulk), End Use (Smoking Tobacco,
Smokeless Tobacco, Raw Tobacco), and Region - Global Forecast to 2022"
“The paper boxes segment, by
material, held the largest market share in the tobacco packaging market”
The paper box packaging segment is expected to have a high growth rate during the forecast period. Paper box packaging is a developing trend in the packaging industry. It is environment-friendly and cost-effective, and is hence gaining popularity in many regions. Due to rising issues regarding the non-biodegradable nature of plastic and metal packaging, paper box packaging is highly preferred by manufacturers.
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“The secondary segment is projected
to grow at the highest rate during the forecast period, in terms of type”
The tobacco packaging market is
segmented on the basis of type into primary, secondary, and bulk. The secondary
segment accounted for the largest share in 2016, and is also projected to grow
at the highest CAGR over the next five years. Increase in consumption of
cigarettes in social gatherings and rise in demand for innovative cigarette
boxes have boosted the market for secondary packaging.
On the basis of type, the tobacco packaging market
is segmented into primary, secondary, and bulk. The secondary segment accounted
for the largest share in 2016 and is also projected to grow at the highest CAGR
over the next five years. Increase in consumption of cigarettes in social
gatherings and rise in demand for innovative cigarette boxes have boosted the market
for secondary packaging.
The key
players in the tobacco packaging market are Amcor Limited (Australia), Innovia
Films (U.K.), WestRock (U.S.), ITC Limited (India), Mondi Group (South Africa),
Altria Group (U.S.), Ardagh Group. (Luxemburg), British American Tobacco p.l.c.
(U.K.), Reynolds American Inc. (U.S.), and Philip Morris International Inc.
(U.S.). These players have adopted various strategies to expand their
global presence and increase their market share. Mergers & acquisitions,
expansions, new product launches, partnerships, divestitures, and joint
ventures are some of the major strategies adopted by the market players to
achieve growth in the tobacco packaging market.
Read More Insights At https://www.marketsandmarkets.com/ResearchInsight/tobacco-packaging-market.asp
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