Tobacco packaging market will exhibit a CAGR Of 3.0% and reach USD 20.45 billion by 2027, and the market value as per 2019 was USD 16.15 billion.
\nFortune Business Insights titled, \u201cTobacco Packaging Market Size, Share & Industry Analysis, By Material (Plastics, Paper, Paperboard, and Others), By Packaging Type (Primary and Secondary), and Regional Forecast, 2020-2027\u2019\u2019.
\nTobacco Packaging Market Drivers and Restraints :
\nThe increasing consumption of tobacco products has propelled the need for tobacco packaging, thereby boosting the market. Besides this, the rising popularity of smokeless tobacco also augmented growth. Packaging is required for protecting the quality and authenticity of the product and to extend its shelf life. Specialty packaging products also protect the product from external temperatures or moistures. Therefore, the need for better packaging quality is expected to spur growth.
\nOn the other side, tobacco consumption may lead to serious health issues such as mouth cancer, lung cancer, and others. Therefore, governments of various nations have imposed stringent laws imposed on tobacco production, packaging, and consumption. This, coupled with restrictions imposed on the advertising of tobacco products on any medium may challenge the market in the coming years.
\nList of Significant Manufacturers Tobacco Packaging Market are:
\n\u2022\tInnovia Films (UK)
\n\u2022\tSchweitzer-Mauduit International, Inc. (US)
\n\u2022\tITC Limited (Kolkata)
\n\u2022\tSiegwerk Druckfarben AG & Co. KGaA (Germany)
\n\u2022\tMondi Group (Austria)
\n\u2022\tInternational Paper (US)
\n\u2022\tSonoco (US)
\n\u2022\tSmurfit Kappa (Ireland)
\n\u2022\tWestRock (US)
\n\u2022\tAmcor Limited (Australia)
\n\u2022\tOther players
\nTo gain more insights into the market with a detailed table of content and figures, Click Here: https:\/\/www.fortunebusinessinsights.com\/tobacco-packaging-market-102865<\/p>\n
Some of the key industry developments in the Pharmaceutical Packaging Market Include:
\nJune 2020 \u2013 A section of Nordic Packaging and Container Holdings called Powerflute was acquired by Mondi Group for USD 398 million to expand the packaging paper business unit of Mondi.
\nApril 2020 \u2013 a manufacturing unit of folding carton products for food, tobacco, and consumer goods called Nampak Cartons Nigeria Limited was acquired by AR Packaging Group AB to expand its portfolio in the African market.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tobacco packaging market will exhibit a CAGR Of 3.0% and reach USD 20.45 billion by 2027, and the market value as per 2019 was USD 16.15 billion. Fortune Business Insights titled, \u201cTobacco Packaging Market Size, Share & Industry Analysis, By Material (Plastics, Paper, Paperboard, and Others), By Packaging Type (Primary and Secondary), and Regional Forecast, […]<\/p>\n","protected":false},"author":1,"featured_media":743809,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-743808","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized"},"yoast_head":"\n