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Tobacco Packaging Market Size and Share Analysis | Industry Growth Forecast to 2027

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, “Tobacco Packaging Market Size, Share & Industry Analysis, By Material (Plastics, Paper, Paperboard, and Others), By Packaging Type (Primary and Secondary), and Regional Forecast, 2020-2027’’.
Tobacco Packaging Market Drivers and Restraints :
The 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.
On 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.
List of Significant Manufacturers Tobacco Packaging Market are:
• Innovia Films (UK)
• Schweitzer-Mauduit International, Inc. (US)
• ITC Limited (Kolkata)
• Siegwerk Druckfarben AG & Co. KGaA (Germany)
• Mondi Group (Austria)
• International Paper (US)
• Sonoco (US)
• Smurfit Kappa (Ireland)
• WestRock (US)
• Amcor Limited (Australia)
• Other players
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/tobacco-packaging-market-102865


Some of the key industry developments in the Tobacco packaging market Include:
June 2020 – 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.
April 2020 – 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.

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