Research
Nester published a report titled “Tobacco
Packaging Market: Global Demand Analysis & Opportunity
Outlook 2028” which delivers
detailed overview of the tobacco packaging market in terms of market
segmentation by type, packaging material, end use and by region.
The market is segmented by type into primary,
secondary & bulk, out of which, the primary segment is projected to hold
the largest market share in the global tobacco packaging market owing to a rise
in demand for clean and safe packaging. The key aim of primary packaging is to
completely cover the product and remove the possibility of its contamination by
internal or external intervention. Primary packaging increases the shelf life
of the commodity, making it suitable for extended use. During storage, a
durable primary packaging prevents harm to the substance.
The tobacco
packaging market is anticipated to record a CAGR of around 3% over the forecast
period i.e. 2020-2028. There are a wide
range of tobacco products such as cigarettes, dissolvable tobacco, pipe,
hookah-cigarettes cigars, chewing or dipping e-cigarette & smokeless
tobacco available in the market which requires smart packaging techniques. Rise
in per capita income in developed countries and the growth of population has led to a change in
lifestyle, stress and increased workload. Rise in stress levels make people
inclined towards the use of stimulants and anti-depressants such as tobacco
products. Currently, hot-foil stamping and rotogravure & offset printing are different production technologies being used for tobacco packaging.
“The Final Report will cover the impact
analysis of COVID-19 on this industry.”
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Sample Copy of Strategic Report: https://www.researchnester.com/sample-request-2768
Geographically, the tobacco packaging market
is segmented into five major regions, including North America, Europe, Asia
Pacific, Latin America and the Middle East & Africa region. Asia Pacific
emerged with the highest market share in 2019 and is predicted to witness the
fastest growth over the forecast period. The region is predicted to be the
leading market for tobacco packaging in the world on account of the rising consumption
of cigarettes and chewing tobacco. Moreover, on account of the presence of
numerous small, medium and large players operating in the market in this region
is also anticipated to drive the market growth.
Increasing Consumption Of Tobacco
Products
There are about
1.337 billion smokers in 2018 with 244 million female and 1.093 billion males,
according to World Health Organization (WHO).
Chaotic life
styles, increased workload and hectic work schedules have led to an increasing
smoking habits among end users. Nicotine mimics several neurotransmitters and
increases signaling of the brain. It creates a pleasurable sensation on the
brain by activating dopamine signals. Moreover, the increase in consumption of
tobacco is also on account of rising trends of hookah bar and pub culture. This
has led the manufacturers to opt for innovative packaging solutions, which in
turn is anticipated to drive the growth of the tobacco packaging market.
However, raising awareness for ill effect of tobacco by the government of various
countries and campaign such as m-Awareness and m-Smoke by the World Health Organization
(W.H.O) are expected to operate as key restraints to the growth of
tobacco packaging market over the forecast period.
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Report: https://www.researchnester.com/sample-request-2768
This
report also provides the existing competitive scenario of some of the key
players of the global tobacco packaging market which includes company profiling
of Amcor plc (NYSE: AMCR), R.J. Reynolds Vapor
Company,
ITC Limited (NSE: ITC), Innovia Films, WestRock Company (NYSE: WRK), Mondi
plc (LON: MNDI), Novelis, Britain American Tobacco plc (LON: BATS), Sonoco
Products Company (NYSE: SON), Philips Morris Products S.A. (NYSE:PM).
The
profiling enfolds key information of the companies which encompasses business
overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the tobacco packaging market that will
help industry consultants, equipment manufacturers, existing players searching
for expansion opportunities, new players searching possibilities and other
stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
Browse Complete Summary
of this report @ https://www.researchnester.com/reports/tobacco-packaging-market/2768
About Research Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision in order to avoid future uncertainties.
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Info:
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Email: info@researchnester.com
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