Packaging Market Poised for Growth

Photo: Tobacco Reporter archive

The value of the global market for tobacco packaging is estimated to reach $16.5 billion by 2027, representing a compound annual growth rate (CAGR) of 1.8 percent, according to a recent report.

Paper is projected to record a 2.2 percent CAGR and reach $4.5 billion by the end of the analysis period. The report estimates the value of the U.S. tobacco packaging market at $4 billion for 2020. China’s tobacco packaging market is forecast to reach $3.2 billion by 2027, representing a CAGR of 3.6 percent.

The tobacco packaging markets of Japan and Canada are forecast to grow at 0.2 percent and 1.3 percent, respectively, over the 2020–2027 period. Within Europe, Germany is forecast to grow at approximately 0.7 percent CAGR.