The global Tobacco Packaging market is projected to perceive an outstanding growth by 2021 registering a striking CAGR during the anticipated period (2017 – 2021).
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.
One trend in market is technological innovations. Though tobacco consumption is decreasing because of stringent government regulations and increasing health awareness, there is a section of people who still consume tobacco because of addiction or habit. The tobacco product manufacturers need to concentrate on such segments to retain those buyers. The main attribute that easily grasps the attention of consumers is packaging. There is a huge scope for innovation in the packaging industry. However, the market is constrained by increased public awareness about the health hazards of smoking like mouth and lung cancer and stringent laws on cigarettes packaging.
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).
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.
Segments
For the convenience of the report and enhanced understanding; The Tobacco Packaging Market is segmented in to 3key dynamics
By Product Type – Cigarette, Cigar and Others
By Materials - paper box, films and others
By Regions - Comprises regions - North America, Europe, APAC and Rest of the World.
Regional Analysis:
The global Tobacco Packaging market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is expected to show the fastest growth in tobacco packaging market. China is currently the largest tobacco & cigarette manufacturer as well as exporter. Owing to a continuous increase in cigarette consumption, China is likely to lead the international markets by the end of forecast period. Moreover, demand for tobacco packaging is driven by increased global cigarette production. Increased population and per capita income in developing countries has resulted in changing lifestyles, increased workload, and stress especially in urban areas.
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