Market Research Report
Tobacco Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||907521|
|Published||Content info||105 Pages
Delivery time: 2-3 business days
|Tobacco Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: August 18, 2019||Content info: 105 Pages||
The global tobacco packaging market was worth US$ 15.3 Billion in 2018. Tobacco belongs to the nightshade or Solanaceae plant family and is consumed for its high nicotine content. The tobacco packaging industry involves wrapping of dried tobacco leaves for products such as cigarettes, cigars, smokeless tobacco and raw tobacco. The packaging enhances and protects the quality and flavor of the product from deterioration and aroma transmission during transportation. Paperboards, paper-boxes, plastic based films, metal cans, jute bags, foils, laminates, etc., are the most common types of tobacco packaging materials available in the market. Commercial or bulk packaging of tobacco includes hinge-lid containers, shells, slides and bundle wraps as well as flexible packaging in a variety of forms such as flip top packs, shrink sleeves, three-sided seal bags and stand-up pouches.
Growing urbanization and increased popularity of cigarettes among the youth are the key factors driving the growth of the market. Furthermore, stressful lives, along with increased workload and hectic schedule, are also boosting the consumption of tobacco among the working population. Nicotine present in tobacco acts as a stimulant and anti-depressant and helps consumers in coping with daily challenges. Product novelties such as the introduction of super-slim and demi-slim cigarettes targeted at women, Roll-Your-Own-Cigarettes (RYOC), additive free and miniature cigarette variants are further enhancing the demand for tobacco. Moreover, various product and design innovations such as limited-edition packs, curved edge packs and slide opening packs which are launched to communicate and attract the interest of the consumers are further projected to drive the global market significantly. Similarly, flexible packaging is also gaining traction as a tobacco packaging material due to its improved barrier properties and cost-effectiveness. Looking forward, IMARC Group expects the market to reach a value of US$ 18.1 Billion by 2024, registering a CAGR of 2.8% during 2019-2024.
Historical, Current and Future Market Trends