GLOBAL TOBACCO PACKAGING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In June 2022, Mondi Group completed the acquisition of Powerflute, a division of Nordic Packaging and Container Holdings, for USD 398 million. Powerflute's operations include a paper and pulp mill located in Finland, boasting an annual production capacity of 285 KT of semi-chemical fluting. Following the acquisition, Powerflute will be integrated into Mondi's Packaging Paper business unit, enhancing Mondi's capabilities and expanding its presence in the packaging industry.
• In April 2022, Siegwerk, a prominent global provider of printing inks and coatings for packaging applications, inaugurated a warehouse and color-matching center in Tauru, Haryana. This strategic move was aimed at supporting India's increasing demand for packaging inks by enhancing Siegwerk's local capabilities and services. The new facility in Tauru will not only cater to the growing market needs but also enable Siegwerk to provide efficient color-matching services to its customers in the region.
• In March 2022, WestRock Company, a renowned global manufacturer of specialized paper and packaging solutions, announced an significant expansion of its consumer packaging facility in Claremont. The expansion added an impressive 285,000 square feet to the existing facility, showcasing WestRock's commitment to meeting the growing demands of the consumer packaging market. This expansion not only increases the company's production capacity but also enhances its capabilities to deliver innovative and sustainable packaging solutions to its customers.
• In November 2022, Philip Morris International Inc. (PMI) introduced its latest innovation in the realm of heat-not-burn tobacco technology with the launch of BONDS by IQOS, a cutting-edge tobacco heating element