Online Retail Portals are Gaining Popularity in Europe
Key manufacturers in Europe incurred huge losses due to the pandemic, with the shutting down of several stores in 2020. Europe is home to many fashion capitals that have streets full of retail outlets. The stores suffered the blow of the pandemic due to non-existent footfall in the first half of the year.However, due to the widespread adoption of e-commerce by traditional stores, the manufacturers witnessed a steady recovery in terms of sales and production. Many stores have also reopened with keeping in-store health and safety measures in check and are experiencing average footfall.
As consumers are getting comfortable with online retail portals, the retail industry is witnessing a gradual recovery with prospects for expansion in the future.
The global cigarette paper market is poised to expand at a CAGR of a little over 2% during the forecast period of 2021-2031. Historically, the market has witnessed a growth rate of 1.4% over the past 5 years, owing to decreasing demand for cigarettes on the back of surging prices and taxes. However, demand for cigarette paper is still steady to trillions of units of cigarettes being manufactured across the globe.
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Nearly 6.5 trillion cigarettes were sold in 2019, which translates to more than 80% of global cigarette paper demand. Even though the increasing popularity of e-cigarettes has created a critical situation for factory-made cigarettes, it is still not in a position to overtake actually cigarettes anytime soon
The COVID-19 pandemic exhibited an opportunity for cigarette manufacturers and suppliers to enhance their product offerings towards roll your own cigarette paper. While factory-made cigarette manufacturing facilities were shut down, the roll your own segment came as a saviour for the market.
Key Takeaways from Market Study
- The global cigarette paper market is anticipated to add 1.5X value by 2031.
- Unbleached cigarette paper is expected to expand at a substantial CAGR of 3.4% over the forecast period.
- East Asia is the supreme market with a value of more than US$ 500 Mn in 2020, and is projected to expand at a substantial CAGR of approx. 2% over the next ten years.
- The roll your own cigarette paper segment is projected to exhibit a higher growth rate of close to 4% CAGR, while cigarette manufacturing under application is projected to add 1.2X value by 2031.
- The market in South Asia is set to expand at a 2.6% CAGR, and is set to be valued at over US$ 370 Mn in 2031, owing to higher presence of manufacturers in the region, huge consumer base, and substantial consumption with streamlined supply chains.
- By refining segment, unbleached cigarette paper is poised to provide higher opportunity for cigarette paper manufacturers by virtue of increasing consumer inclination towards unbleached rolling paper due to its chemical-free and organic attributes. The segment is poised to progress at a CAGR of more than 3% over the forecast period
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Global Cigarette Paper Market: Segmentation
The global cigarette paper market is segmented on the basis of material into:
- Rice straw
The global cigarette paper market is segmented on the basis of product type into:
- Cigarette Tissue
- Plug Wrap Paper
- Tipping Paper
The global cigarette paper market is segmented on the basis of basis weight into:
- Up to 10 gsm
- 10gsm -25 gsm
- 25 gsm & above
The global cigarette paper market is segmented on the basis of application into:
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Collaborative Approach and Targeted End Users by Key Players
- Prominent players in the market such as SWM, Delfort AG, BMJ, and Miquel Y Costas have created a synergy in the demand and supply equation with cigarette manufacturers. This collaborative network has streamlined the supply chain of cigarette paper, set by relative demand for the production of cigarettes.
- Key players consider their intellectual property and patents to be their material assets. Market leader Schweitzer-Mauduit International, Inc. has been at the forefront of developing technologies, and has patented several innovations for the production of LIP cigarettes paper.
- Cigarette paper manufacturers are competing primarily on quality characteristics, pricing, innovation, and customer service.
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