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Asia Pacific Tobacco Packaging Market Will Exhibit Considerable Growth By 2024

Author : Rahul Varpe | Published Date : 2019-03-19 

Developments in the global cigarette industry will augment the tobacco packaging market during the forecast period. The cigarette industry is one of the most profitable industry in the world generating retail sales worth more than USD 680 billion in 2016. In the same year more than 5.5 trillion cigarettes were sold worldwide with global volumes sales increasing by 1.3% from 2002 to 2016. The industry is also witnessing shifting of sales from traditional developed markets such as North America and Western Europe to emerging markets such as Asia Pacific and Africa. 

This shift can be attributed to restrictions given by respective governments of developed countries towards cigarette smoking and sales. The high volume of worldwide cigarette sales coupled with the shifting consumption patterns in the industry will drive demand for tobacco packaging market during the forecast period.

Tobacco Packaging Market will be chiefly driven by increasing worldwide cigarette sales. Tobacco and paper are hygroscopic materials and are affected by the ambient humidity. If ambient humidity is high, they will tend to absorb moisture whereas if humidity is low, moisture will be drawn from the materials, drying them out and degrading their properties. Thus, the packing of these products is important to retain its properties and quality.

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Government restrictions relating to smoking of cigarettes as well as for product sales will be a major restraining factor for the tobacco packaging market growth. Most governments have formulated regulations restricting the use of attractive packing of these products. Governments have been promoting the use of plain packaging for tobacco products, that is the removal of all branding such as colors, logos, imagery, etc. Various governments have also been raising the price of these products as that reduces consumption and promotes community health. Factors such as these will have a considerable impact on the tobacco packaging market and will hinder the industry growth during the forecast period.

The tobacco packaging market has been segmented, based on material, into paper, paper box, plastic, jute, and others. Paper box will be a key material segment that is likely to occupy a substantial share of the market during the forecast period. Almost all cigarette packets are made of paper box materials and the high volume of cigarette sales will be the major contributor for the paper box material segment’s growth in coming years. Plastic material segment is likely to register a fast growth rate as they are extensively used for wrapping cigarette packets for protection against the adverse effects of moisture.

According to type, the tobacco packaging market has been segmented into primary, secondary, and tertiary. Primary packing refers to the first layer of packing in which the product is contained. This segment is likely to register strong growth rates and will occupy a significant share of the industry as they are integral to any tobacco product packaging. Secondary packing is done not only to protect the product but also the primary packing. This segment will also occupy a considerable share of the market as they are extremely necessary while transportation, storage, and wholesale.

Based on end-use, tobacco packaging market is segmented into smoking, smokeless, and raw tobacco. Smoking segment is likely to account for a considerable share of the industry as packing of smoking product types such as cigarettes, cigars and bidis require extra protection against moisture. Smokeless end-user segment will also account for a considerable share of the global tobacco packaging market during the forecast timeframe.

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Asia Pacific is likely to be the most significant tobacco packaging market owing to shifting consumption trends, increasing production volumes for raw product as well as increasing cigarette production in the region. Europe will also be a key tobacco packing market which will occupy a significant share. Middle East & Africa region is likely to witness fast growth rates during the forecast timeframe owing to the rising trend of cigarette smoking in the region.

Some of the key market participants in the global tobacco packaging market includes Amcor, ITC, International Paper, Bemis, Phillip Morris International, British American Tobacco, Novelis, Mondi, Packaging Corporation of America, Siegwerk, Reynolds Group, WestRock, Sonoco, etc.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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