The tobacco packaging market is witnessing considerable growth due to the rise in per capita income and stressful lifestyles
The
market for tobacco
packaging is
estimated to grow from USD 14.27 Billion in 2017 to reach USD 16.65 Billion by
2022, at a CAGR of 3.1%. The base year considered for the study is 2016 and the
market size is projected from 2017 to 2022.
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.
“The Asia-Pacific tobacco packaging market
held the largest market share in 2016”
Countries such as
China and Japan are expected to witness high growth in the tobacco packaging
market due to rapid economic expansion. In addition to this, the growing
population in these countries presents a huge customer base for tobacco
products, which in turn is expected to drive the tobacco packaging market The
rising trade of tobacco in the region drives the demand for tobacco products,
subsequently driving the tobacco packaging market.
The global market
for tobacco packaging is dominated by large players such as Amcor Ltd.
(Australia), Innovia Films (U.K.), WestRock (U.S.), ITC (India), Mondi Group
(South Africa), Altria Group (U.S.), Ardagh Group (U.S.), British American
Tobacco (U.K.), Reynolds American Corporation (U.S.), and Philip Morris International
Inc. (U.S.).
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Amcor Limited
(Australia), one of the top players in the packaging industry aims to maintain
its position in the market through acquisitions. In the last few years, Amcor
Limited has entered into various significant supply agreements, acquired
companies, expanded production facilities, and launched new products to expand
its presence in the tobacco packaging market. In September 2015, Amcor Tobacco
Packaging acquired Souza Cruz’s internal tobacco packaging operations located
in Cachoeirinha, Rio Grande do Sul, Brazil. This acquisition helped the company
to achieve sales of approximately USD 56 Million and would strengthen the
company’s presence in Latin America. Moreover, Amcor acquired select printing
assets of AGI-Shorewood’s Tobacco Packaging (U.S.) and Specialty Folding Carton
Operations for USD 114.8 Million.
WestRock (U.S.)
expanded its presence through various strategic developments such as joint
ventures and acquisitions. WestRock signed an agreement to acquire Multi
Packaging Solutions (U.S.) for USD 18.00 per share. This transaction enhanced
WestRock’s position as a leading provider of differentiated paper and packaging
solutions. Moreover, in May 2016 WestRock announced the formation of a joint
venture with Grupo Gondi (Mexico). This joint venture was brought into effect
to combine their paper and packaging operations in Mexico.
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