According to a report by P&S Intelligence, the global market for tobacco packaging 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.
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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.
The surging work pressure across the globe is a major driving factor of the tobacco packaging market. As the work pressure is increasing, people are increasingly consuming tobacco-based products, as the nicotine, the psychoactive mood-altering chemical, present in the products stimulates the release of dopamine in the body. A sensation of pleasure and relaxation is created by this, which helps in relieving stress. Hence, people are widely adopting tobacco-based products for coping with increasing amount of stress.
A key trend being registered in the tobacco packaging market is the increasing popularity of e-cigarettes. Owing to the cost-efficiency, no production of ash, cartridge strength and flavor customization flexibility, considerably fewer chemicals, fewer health issues, no fire risk, almost no teeth staining, ease of use, and odor-free nature, e-cigarettes are popular among people between the ages of 15–20 years. The increasing adoption of these products is opening up wide opportunities for the players operating in the domain.
In conclusion, the surging work-related stress and rising popularity of e-cigarettes are predicted to drive the market.
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