Oct 04, 2019 (SUPER MARKET RESEARCH via COMTEX) -- As per the latest global tobacco packaging market research report by IMARC Group, titled " Tobacco Packaging Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global tobacco packaging market size reached US$ 15.3 Billion in 2018. Belonging to the nightshade or Solanaceae plant family, tobacco is a widely popular item consumed for its nicotine content. The dried and fermented leaves of tobacco plants are used in numerous products, such as cigars, cigarettes, snuff, bidis, dissolvable tobacco and shishas. The tobacco packaging industry involves the effective packaging of these products to protect the content from bacteria, aroma transmission and external impacts during transportation. These packaging solutions form a key marketing tool for tobacco companies as they provide relevant product information on the often aesthetically designed labels. Some of the most common materials utilized for manufacturing the packaging are foils, films, paper, boards, cartons, laminates, membranes and bundle wraps.
Some of the major top manufacturers/ Key players operating in the tobacco packaging market include Philip Morris International Inc (PM), Amcor plc (AMCR), China National Tobacco Corporation, Innovia Films, ITC Limited (nse:ITC), International Paper Company (IP), JAPAN TOBACCO INC (JAPAF), Siegwerk Druckfarben AG & Co. KGaA, Westrock Company (WRK), Sonoco Products Company (SON), SMURFIT KAPPA GROUP PLC (SMFTF), MONDI PLC (MONDF), Reynolds Group Holdings Limited, and Oracle Packaging.
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Global Tobacco Packaging Market Trends:
Growing working population and rapid urbanization are among the key factors driving the market growth. Hectic schedules, long working hours and an increase in workload have resulted in stress and related mental health concerns among a majority of the population. Consequently, there is an increasing inclination toward tobacco consumption, which contains nicotine that acts as a stimulant, thus aiding consumers to combat daily stress. In addition to this, inflating per capita income levels, along with the rising trend of product premiumization, have impelled the demand for premium quality tobacco products, thereby bolstering the sales of premium packaging. Furthermore, numerous manufacturers are constantly engaging in research and development (R&D) activities to offer attractive packaging solutions. The introduction of packaging with ultraviolet (UV) colors and coatings, effect and spot finishing, blind and hot foil embossing and window films is providing a stimulus to the market growth. The emergence of advanced technologies in the market, such as rotogravure, conventional sheetfed offset, UV sheetfed offset and flexographic printing, is also projected to create a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 18.1 Billion by 2024, expanding at a CAGR of 2.8% during 2019-2024.
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Key Market Segmentation:
Market Breakup by Material Type:
2. Paper Boxes
On the basis of the material type, the market has been divided into paperboards, paper boxes, plastic, jute, metal and others. Amongst these, paper boxes represent the most preferred material type.
Market Breakup by Packaging Type:
1. Primary Packaging
2. Secondary Packaging
3. Bulk Packaging
Based on the packaging type, secondary packaging exhibits a clear dominance in the market. Other segments include primary and bulk packaging.
Market Breakup by End Use:
1. Smoking Tobacco
2. Smokeless Tobacco
3. Raw Tobacco
On the basis of the end use, the market has been categorized into smoking tobacco (cigarettes and cigars), smokeless tobacco (chewing tobacco, snuff, dissolvable tobacco and others), and raw tobacco. At present, smoking tobacco accounts for the majority of the total tobacco packaging market share.
Market Breakup by Region:
1. Asia Pacific
3. North America
4. Middle East and Africa
5. Latin America
Region-wise, Asia Pacific holds the leading position in the market. Other major regions include Europe, North America, Middle East and Africa, and Latin America.
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