The global tobacco packaging market to grow at a CAGR of 2.58% during the period 2017-2021.
Global Tobacco Packaging Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
One of the packaging companies, MeadWestvaco, designed light-up cartons for Kent brand of cigarettes. Kent comes under the top tobacco product manufacturer, the British American Tobacco. MeadWestvaco placed a setup box with a magnetic lid that includes electronics to expose a line of text when the consumer uses the 10-pack cartons. The purpose of this packaging is to create brand awareness among the consumers and grasp the market of affluent and early adopting consumers.
According to the report, one driver in market is innovation in tobacco packaging. Innovation is the key for both tobacco manufacturers and tobacco packaging companies to remain competitive in the market faced with stringent legislative changes across countries. Innovation centers at tobacco packaging companies are working with technologies and printing. The sales of tobacco products have been showing a downward trend due to government initiatives for tobacco control.
One of the major attributes that may promote the sales is that packaging companies are coming up with various innovations in technologies by offering complex graphics design and unique structural designs. One of the notable innovations in packaging was the introduction of Skruf Moist Snuff tobacco packaging designed by Neumeister.
Further, the report states that one challenge in market is introduction of plain packaging. Plain cigarette packaging has been implemented to deter smokers from smoking. The plain packaging obliges the tobacco companies to remove logos, colors, trademarks, and any other visual aid that may promote their brands.