Cigarette Paper Market Expected to Reach $2.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cigarette Paper Market," The cigarette paper market size was valued at $1.6 billion in 2021 and is estimated to reach $2.2 billion by 2031, growing at a CAGR of 3.2% from 2022 to 2031.

The market for Cigarette Papers is mostly driven by the increasing number of smokers. Over the past few years, there has been an increase in the number of smoking. Moreover, the frequency of smoking is also rising rapidly. This is because of consumers’ hectic and stressful lifestyles. The rising standard of living and adoption of smoking as a fashion have diversified the scope of cigarette paper manufacturers. Consumer disposable incomes have been rising in several developing regions, such as the Asia Pacific, creating many development prospects for cigarette producers to raise their product prices and transfer smokers to premium cigarettes.            

For market players, the Cigarette Paper market demand in Asia-Pacific and LAMEA has significant growth potential. Market expansion is primarily driven by rising consumer disposable income and an increase in the adoption of western lifestyles. Sales of Cigarette Papers have also surged as a result of young people's growing desire to smoke in order to look cool in society. Thus, such factors are creating a cigarette paper market opportunity for market players. The market participants might debut cutting-edge cigarette Paper market trends in Asia-Pacific, which offers prospective growth chances. Furthermore, due to the increasing usage of tobacco products, Latin American nations like Brazil are anticipated to present appealing commercial chances.

Instead of using cigarettes, nicotine replacement therapy is a procedure that has been recommended by doctors. It helps people stop smoking cigarettes or chewing tobacco. By drastically reducing cravings, nicotine replacement therapy can end the mental dependence on tobacco-based goods. Growing public awareness about the high rate of success of nicotine replacement therapy, including patches, lozenges, gum, and other items, is limiting the cigarette paper market growth.

According to the Cigarette Paper Market Analysis, the global cigarette paper market is segmented on the basis of product type, material, application, and region. On the basis of product type, the market is bifurcated into tipping paper, rolling paper, and plug wrap paper. The rolling paper segment accounted for a major share of the cigarette paper market in 2021 and is expected to grow at a significant CAGR during the forecast period. Rolling papers are accessible in a few structures, which incorporate straightforward, shaded, and enhanced assortments.

By material, the cigarette paper market is segmented into flex fibers, hemp, rice straw, sisal, and esparto. The hemp segment is accounted for a major cigarette paper market share in 2021 and it is expected to grow at a significant CAGR during the cigarette paper market forecast period. Paper delivered from hemp fiber requires fewer synthetic substances for handling when contrasted with paper created from wood pulps. In this manner, the rising mindfulness levels about the item benefits are projected to help the market development.

As per application, the global cigarette paper market is segmented into hand-made cigarette paper and machine-made cigarette paper. The machine-made cigarette paper segment accounted for a major share of the market in 2021 and it is expected to grow at a significant CAGR during the forecast period. Machine-Made Cigarette Papers have fewer risks than handmade and packed rolling papers. Cases of unhygienic handling or contamination are totally eliminated in a fully automatic process and consumers are able to get a more quality paper at the best possible price.

The major players analyzed for global Cigarette Paper industry are Schweitzer-Mauduit International, Inc., Delfortgroup AG, Nippon paper papylia co. ltd., Miquel y Costas & Miquel, S.A., The Rolling Paper Company, Republic Technologies, Glatz Feinpapiere, Bukit Muria Jaya (BMJ) Hengfeng paper, and Moondust paper pvt. Ltd.

KEY FINDINGS OF THE STUDY

• By types, the rolling paper segment was the highest revenue contributor in the cigarette paper market size, with $612.1 million in 2021, and is estimated to reach $804.1 million by 2031, with a CAGR of 2.8%.
• Depending on the material, the hemp segment was the highest revenue contributor to the market, with $511.1 million in 2021, and is estimated to reach $663.0 million by 2031, with a CAGR of 3.3%
• As per application, the machine-made cigarette Paper segment was the highest revenue contributor to the market, with $994.7 million in 2021, and is estimated to reach $1239.5 million by 2031, with a CAGR of 2.7%.
• Region-wise, Asia-Pacific was the highest revenue contributor, accounting for $651.8 million in 2021, and is estimated to reach $936.2 million by 2031, with a CAGR of 3.7%.