GLOBAL – Market research firm, Future Market Insights (FMI) anticipates the market for cigarette packaging machines to expand at a CAGR of 3.2% between 2022 and 2032.
The market estimated to be worth US$16.49 billion by 2022 is projected to be worth US$ 22.60 billion by 2032, notes FMI.
Cigarette packaging machine is defined as those cigarettes manufactured for institutional sales product, excluding those machines intended for individual sales which are commonly known as roll your own (RYO) and packaging process of cigarette boxes.
According to FMI, one of the significant factors helping the sales of tobacco and thereby increasing the demand for cigarette packaging machines is due to Tobacco vending machines (TVM) which have directly attracted consumers across the regions of Asia-Pacific, Western Europe, and North America, among others.
Over the years with technological development and innovation in cigarette packaging machine, the cost of annual maintenance has been reduced.
It has improved the overall production output and minimized the cost. Such factors have led manufacturers of cigarette packaging machine to tap the untapped market of the Middle East.
Key leading manufacturers of the cigarette packaging machine are rendering customized tobacco stick packaging such as 70 mm, 84 mm, 100 mm, slim, super slim and Nano size cigarettes, thus ensuring flexibility of packing different cigarette sizes in one machine.
The demand for cigarette packaging machine is predominated across the regions of Asia- Pacific and Europe, these regions are further anticipated to dominate over the forecast period.
With cigarette manufacturers coming up with flavored variants the demand for cigarettes has surged over the last half decade. Such factor has caused cigarette packaging machine manufacturers to evolve their design process of the machine and make the cigarette stick look attractive as compared to their competitor’s products.
Moreover, cigarette packaging machine manufacturers are using laser technology which fastens the production output of cigarettes and detects and default cigarettes.
On the flip side, cigarette packaging machine manufacturers are facing vigorous competition from the manufacturers of electronic cigarettes, bidis manufacturers, kreteks manufacturers, chewing tobacco, pipe, cigars, and roll your own machine (RYO) is a substitute for cigarettes.
As the call for sustainability in the production process increases, manufacturers of cigarette packaging are investing in recycling technologies to help reduce the wastage of tobacco and paper which ultimately benefits the tobacco manufacturer and cigarette packaging companies.
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