Innovations in Security: A Look into the Future of Tobacco Packaging by 2032

projecting a compound annual growth rate (CAGR) of 3.2%. This trajectory would result in the market’s value scaling up to US$ 19.3 billion by 2032.

The tobacco packaging industry involves the wrapping of dried tobacco leaves for various products like cigarettes, cigars, smokeless tobacco, and raw tobacco. This packaging plays a crucial role in enhancing and preserving the freshness and flavor of the product during transit, effectively preventing deterioration and transmission of fragrance.

Anticipated to reach a sum of US$ 14.1 billion in the year 2022, the worldwide tobacco packaging market is set to experience a demand surge, projecting a compound annual growth rate (CAGR) of 3.2%. This trajectory would result in the market’s value scaling up to US$ 19.3 billion by 2032.

China’s dominance in the global tobacco landscape is undeniable, as it stands as the largest producer and consumer of tobacco products. Alarming statistics from the World Health Organization (WHO) reveal that over 300 million smokers reside in China, representing a third of the world’s total consumption, with more than half of its adult male population being smokers. This staggering figure is projected to rise further, with FMI’s forecast indicating that China’s market will capture a commanding 42% share of the East Asia tobacco packaging market by 2032, solidifying its pivotal role in the industry’s regional dynamics.

In the United States, controlled tobacco production and stringent government regulations are poised to influence tobacco packaging sales. Despite a significant decline in tobacco production, the U.S. remains a prominent global producer of tobacco leaves, ranking fourth in the world after China, India, and Brazil. States like North Carolina and Kentucky, which collectively contribute to over 70% of total tobacco cultivation, have witnessed increased sales of tobacco products. With U.S. farms harvesting more than 533 million pounds of tobacco in 2018, the data indicates a steady growth trend, with tobacco packaging sales projected to achieve a 2.2% Compound Annual Growth Rate (CAGR) throughout the forecast period.

Request Free Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-14761

Furthermore, key players in the industry are expected to explore opportunities in packaging Heated Tobacco Units (HTU). The shift in consumer preference from smoking tobacco to smokeless alternatives is driving market growth. Companies like British American Tobacco (BAT) and Tobacco International are planning to invest in HTU products, further stimulating the growth of the global tobacco packaging market.

“Increasing preference for paper and paperboard packaging, along with growing popularity of smokeless tobacco will create prospects for growth in the market,” says an FMI analyst.

Key Takeaways:

  • Based on material type, total demand for paper and paperboard tobacco packaging will increase at a 4.1% CAGR over the forecast period.
  • During the assessment period, China is expected to account for 42% of the East Asia market share.
  • In terms of packaging format, demand for boxes will grow at a 3.6% CAGR over the forecast period.
  • The India tobacco packaging market is expected to grow at a CAGR of 7% during the assessment period.

Competitive Landscape

Key players in the global tobacco packaging market are concentrating on providing lightweight and sustainable tobacco packaging solutions. Some of the leading players operating in the market include

  • WestRock Company,
  • Amcor plc,
  • International Paper Company,
  • Smurfit Kappa Group plc,
  • Mondi plc,
  • Innovia Films Limited,
  • Siegwerk Druckfarben AG Co.
  • KGaA, Stora Enso Oyj,
  • ITC Limited,
  • Treofan Group.

Recent Developments-

  • Stora Enso Oyj has announced the introduction of Box Inc., a digital B2B marketplace for recyclable carton packaging. Box Inc. is a new platform that aims to make it easier for businesses to buy packaging online while also allowing suppliers to reach new consumers without having to build their own internet presence.
  • Amcor has completed its purchase of Bemis. As a result, Amcor bolstered its consumer packaging position, attracting even more talent, worldwide reach, size, and technical skills.

Global Tobacco Packaging Market by Category

By Material:

  • Plastic
  • Paper Paperboard
  • Others (Jute, Metal, etc.)

By Distribution Channel:

  • Online
  • Offline

By Packaging Type:

  • Pouches Sachets
  • Bags Sacks
  • Boxes
  • Others (Cans, Jars, etc.)

By Region:

  • North America
  • Latin America
  • Europe
  • Middle East and Africa
  • East Asia
  • South Asia
  • Oceania

 


sindia john

380 Blog posts

Comments