Report: Paper Market to Hit $1.58 billion
BMJ’s new paper machine is expected to come online during the first quarter of 2013.
The global tobacco paper market will grow from $1.23 billion in 2020 to $1.58 billion by 2028 at a compound annual growth rate of 3.04 percent, according to a report by The Brainy Insights.
The authors of the study attribute the growth to an increase in demand for treeless cigarette rolling papers and the popularity of roll-your-own (RYO) cigarettes, among other factors.
“Tobacco paper vendors are now focusing on eco-friendly cigarette papers,” The Brainy Insights wrote in a press note. “They now offer eco-friendly products, for instance, tree-less cigarette paper and filter tips. Different fruit pulp and vegetable pulp are now getting used for the rolling papers in place of trees by the tobacco paper manufacturers.”
Other developments discussed in the report include slow burning low-odor papers and products that are easier to roll. The authors also suggest that strict regulation of vapor products is driving some vapers toward RYO cigarettes.