LONDON--(BUSINESS WIRE)--According to the latest market research study released by Technavio, the global tobacco packaging market is expected to exceed USD 16 billion by 2020, growing at a CAGR of over 2% during the forecast period.
This research report titled ‘Global Tobacco Packaging Market 2016-2020’, provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecast for various market segments and all geographical regions.
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The report segments the global tobacco packaging market by material and can be divided into three broad categories:
- Global tobacco packaging market by paper-box packaging
- Global tobacco packaging market by film packaging
- Global tobacco packaging market by other packaging material
Global tobacco packaging market by paper-box packaging
The global tobacco packaging market by paper-box packaging is expected to exceed USD 13 billion by 2020, growing at a CAGR of 2.6%.
The global tobacco packaging market by paper-box packaging segment will grow at a rapid rate during the forecast period. As a result of rising concerns regarding the non-biodegradable or very slow degradation nature of plastic and metal packaging, paper and paperboards are preferred by manufacturers.
According to Sharan Raj, lead analyst at Technavio for packaging research, “The eco-friendliness of paper packaging has helped in its acceptance and penetration into the global market. Paper-based packaging is versatile and cost-efficient for transportation. This type of packaging is engineered to be sturdy, lightweight, and customizable to meet customer requirements.”
The packaging also plays a major role in the customer's decision to purchase a product. In addition, the market will be positively influenced by an increase in product development in terms of aesthetic and quality-related improvements in graphics, designs, and varieties. On the whole, the market will have good growth prospects during the forecast period.
Global tobacco packaging market by film packaging
The global tobacco packaging market by film packaging is expected to exceed USD 1.5 billion by 2020, growing at a CAGR of over 2%.
The global tobacco packaging market by film packaging segment will grow moderately during the forecast period. The use of biodegradable films is likely to register high consumption growth in the coming years, specifically in developed economies.
The domestic production of cigarettes uses heat shrinkable film type, mainly used for high-grade cigarette tobacco packaging. Tolerance type tobacco film is used for different types of cigarette packaging machines. Biaxially oriented polypropylene (BOPP) tobacco film is one of the popular tobacco films available in the market with 6 - 8 million tons being consumed per year. BOPP film offers advantages such as clear and distinguishable security graphics, easy identification, low cost, transparent gloss, and preservation of moisture.
Global tobacco packaging market by other packaging material
The global tobacco packaging market by other packaging materials is expected to reach USD 1.4 billion by 2020, growing at a CAGR of around 1.8%.
The global tobacco packaging market by other packaging materials segment will grow at a steady rate during the forecast period. The other packaging materials segment includes aluminum foil packaging and metal packaging.
Aluminum foil offers better protective properties compared to the other types. This material also does not absorb any aroma of the products while other materials such as plated (coated) paper or printing paper lack the ability to protect the aroma. In addition, the use of aluminum foil as an inner liner of cigarette packaging in the packaging machine can help to maintain high productivity. The international cigarette industry uses composite plating aluminum foil. Currently, China's tobacco industry uses 70% aluminum foil-based composites and 30% plating foil.
“In the domestic tobacco industry, the use of aluminum foil is constantly increasing with the rise in quality requirements and special specifications of cigarette foil paper (gold foil print and mount printing),” says Sharan.
Technavio transportation and logistics research analysts highlight the following five vendors as the top contributors to the global tobacco packaging market:
- Amcor
- Innovia Films
- ITC
- International Paper
- PMI
Browse Related Reports:
- Global E-Cigarette Market 2015-2019
- Global Chewing Gum Market - Market Analysis Report 2015 - 2019
- Global Cigarette Market 2015-2019
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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