Tobacco Packaging Market – Market Overview
Packaging is an important part of the overall marketing strategy of consumer goods. Packaging helps to establish brand identity in competitive markets and serves as an effective form of promotion both at the point of sale and while the product is being used. Packaging is particularly important for consumer products such as cigarettes, which have a high degree of social visibility. Unlike many other consumer products, cigarette packages are displayed each time the product is used and are often left in public view between uses. The tobacco packaging market is witnessing considerable growth due to the rise in per capita income and stressful lifestyles. Equality laws for women have developed a new market for female smokers, which is another key factor fuelling the growth. Tobacco packaging has come across new opportunities due to the growth in population and the technological advancements.
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Accrediting the colossal growth, the Tobacco Packaging market is witnessing currently and the potential the market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has recently published a meticulous study report giving out the complete market insight up till 2021. According to which, continuing with the same trends the global Tobacco Packaging market is projected to perceive an outstanding growth by 2021 registering a striking CAGR during the anticipated period (2017 – 2021).
Key Players of Tobacco Packaging Market
The key players in the global market for tobacco packaging include Amcor Ltd. (Australia), Innovia Films (U.K), WestRock (U.S.), Mondi Group (South Africa), ITC (India), Novelis (U.S.), British American Tobacco (U.K), Sonoco(U.S.), Philip Morris International Inc. (U.S.), and Reynolds American Corporation (U.S.).
Major strategies adopted by key players are joint ventures, divestitures, partnerships, new product launches and mergers. Recently, Amcor has made investments to improve its value proposition for its tobacco packaging customers both, in Europe and the Americas.
Tobacco Packaging Market by Segmentation
On the basis of materials, global tobacco packaging market is segmented into paper box, film, jute, plastic and others. Materials that are basically used for tobacco packaging include films, boards, cartons, foils, paper, laminates, and membranes. A recent trend shows that manufactures or the packaging industry mainly focus on paper box packaging due to its environment-friendly and cost-effective nature.
Tobacco Packaging Market is segmented on the basis of types as primary, secondary, and bulk. In 2016, the secondary segment had the largest market share, and is also expected to progress at the highest CAGR in coming years. For primary packaging, materials such as metalized films, polyester & nylon are used. Global tobacco packaging market has been segmented based on end-use into smoking tobacco, smokeless tobacco and raw tobacco. Smokeless tobacco include dipping tobacco, chewing tobacco, snuff, tobacco gum, tobacco gum and other.
Global tobacco packaging market, cigarette production has the largest share as it has become the center of attraction among the youth. Other reasons of growing market of cigarette is increase in consumption of cigarettes in social gatherings, which raise the demand for innovative and attractive cigarette boxes. So, different technologies used for the packaging of tobacco are offset printing, hot-foil stamping, and rotogravure.
Tobacco Packaging Market – Competitive Analysis
Tobacco Packaging Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. Some of the key players in the tobacco packaging market include Amcor Limited, Innova Films Limited, China National Tobacco Corporation, ITC Limited and Phillip Morris International, Inc.
Industry News
The report for Global Tobacco Packaging Market of Market Research Future comprises extensive primary research findings along with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain deeper insight into the market and industry performance. The report gives a clear picture of current market scenario, which includes historical and projected market size in terms of value, technological advancement, macro-economic and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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