How is Increasing Stress driving Tobacco Packaging Market?


Posted December 1, 2020 by manishbaghel

The tobacco packaging market is being dominated by the Asia-Pacific region during the historical period and is further expected to hold the major share of the market during the forecast period as well.
 
According to a report by P&S Intelligence, the global tobacco packaging market attained a value of $19,134.6 million in 2019, and it is predicted to progress at a 3.7% CAGR during the forecast period (2020–2030). The market is growing due to the rising adoption of tobacco products, owing to the increasing work life stress, and surging requirement for premium tobacco products. In terms of material type, the market is divided into metals, paper, plastics, and wood.

Out of these, the paper division is expected to account for the largest share of the market till 2030, as paper is mostly preferred for packing cigarettes. Furthermore, cigarettes are the most consumer tobacco products across the globe. According to the estimations by the World Health Organization, 6 trillion cigarettes were manufactured in 2019 and were consumed by 1 billion people. Paper and paperboard materials are further eco-friendly, which is why, they are used more for the packaging of tobacco and other end-products.

Get the sample copy of the report at: https://www.psmarketresearch.com/market-analysis/tobacco-packaging-market-report/report-sample

When packaging type is taken into consideration, the tobacco packaging market is categorized into secondary and primary, between which, the secondary category held the larger share of the market in 2019. Secondary packaging is used more widely because it provides the tobacco products with a barrier against different environmental factors, including aroma dissipation and moisture, until they reach the customers. The primary category is projected to grow at a faster pace during the forecast period, as it can be removed easily before using the product.

Geographically, the tobacco packaging market is being dominated by the Asia-Pacific region during the historical period (2014–2019) and is further expected to hold the major share of the market during the forecast period as well. The consumption and production of tobacco is incredibly heavy in China, and the country is responsible for the production of almost a third of all cigarettes across the globe. This is predicted to drive the regional domain in the coming years.
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Issued By Manish Kumar
Business Address Noida
Country India
Categories Business
Tags tobacco packaging market , tobacco packaging market demand , tobacco packaging market future , tobacco packaging market growth , tobacco packaging market scope , tobacco packaging market share , tobacco packaging market size , tobacco packaging market trends
Last Updated December 1, 2020