Global Tobacco Packaging Market is driven by increasing regulations to curb illicit trade
The Global Tobacco Packaging Market is primarily driven by the increasing adoption of stringent regulations imposed by government bodies across countries to curb illicit trade of tobacco products. Tobacco packaging plays a vital role in safeguarding products from taxation, smuggling and counterfeiting activities through development of innovative packaging solutions that integrate tracking and tracing technologies for real-time monitoring of supply chain movement. Tobacco packaging manufacturers are launching high quality packages including various types of boxes, cartons, laminated films and pouches with anti-counterfeiting features to comply with tracking and serialization standards. The Global Tobacco Packaging Market is estimated to be valued at US$ 19.36 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Tobacco Packaging Market Size are Amcor Limited, WestRock, Smurfit Kappa, Mondi Group, Sonoco, Stora Enso Oyj, Innovia Films, ITC Limited, Taghleef Industries, International Plastics Inc., Cigar Box Factory Estelí S.A., LLFlex , Atlantic Packaging , Multi M Enterprises, Prime Packers, Giriraj Polymers, TCPL Packaging Limited, Treofan Film international, Japan Tobacco International, Siegwerk Druckfarben AG & Co. KGaA. The key players are focusing on developing sustainable packaging solutions to cater to the growing demand for environment-friendly options from consumers and strict government policies.
The growing demand for tobacco products especially cigarettes and chewing tobacco in developing Asian countries is driving the need for packaging. Rapid urbanization, increasing disposable incomes and changing lifestyles are fueling the consumption of tobacco products in countries like China, India and Indonesia.
The packaging manufacturers are expanding their global footprint by strengthening distribution networks across international markets. Mergers and acquisitions are allowing companies to enter new geographies and enhance their product portfolios. Stora Enso completed the acquisition of Bergvik Skog in Sweden to gain access to new customers and business opportunities in wood products.
Market drivers
One of the key drivers for the tobacco packaging market is the rising illicit trade of tobacco products. According to the World Health Organization, illicit trade accounts for about one in every 10 cigarettes consumed globally. The black market sales result in significant tax losses for governments. Tracking and serialization of packs help identify genuine products and curb smuggling. Advanced solutions like invisible ink, holograms, overt and covert security features make counterfeiting difficult and plug revenue leakages. This drives the demand for authentication technologies in packaging.
Get more insights on Global Tobacco Packaging Market
Also read related article on Rapid Liquid Printing Market
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian