Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Menthol Cigarette Market Size is Estimated to Grow from USD 93.78 Billion in 2023 to USD 138.28 Billion by 2033, Growing at a CAGR of 3.96% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Menthol Cigarette Market Size, Share, and COVID-19 Impact Analysis, By Type (Single Capsule Menthol Cigarette and Double Capsule Menthol Cigarette), By End-User (Male and Female), By Distribution Channel (Supermarkets, Hypermarkets, Online Stores, Convenience Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The market for cigarettes that contain menthol, a flavoring that provides a cooling effect, is known as the global menthol cigarette market. The growing number of smokers worldwide is one of the primary factors driving the menthol cigarette market share, and it is largely responsible for the rising sales of menthol cigarettes. The percentage of existing menthol smokers who switch to vaping has the potential to decrease recognized health inequities in menthol tobacco consumption and promote minority tobacco quitting. The market is also expanding as a result of tobacco companies' engaged marketing campaigns and the availability of menthol cigarettes in a variety of sizes and packaging. Additionally, the producers are making significant investments in research and development (R&D) and have created menthol capsules that allow smokers to crush and release the flavor, which is driving the market's expansion. Consumers can customize the taste of their smoking owing to the recent casualization of menthol cigarettes, which is one of the market trends for these cigarettes. The industry is expanding because of the clear trend towards premiumization, which makes consumers willing to spend more for premium menthol cigarettes. However, the market for menthol cigarettes is impacted by several issues, including the growing legal and administrative obstacles to limits and regulation, as well as the growing skepticism.
The single capsule menthol cigarette segment accounted for the largest share of 82.20% in 2023 and is anticipated to grow at a CAGR of 2.28% during the forecast period.
Based on the type, the global menthol cigarette market is categorized into single capsule menthol cigarette and double capsule menthol cigarette. Among these, the single capsule menthol cigarette segment accounted for the largest share of 82.20% in 2023 and is anticipated to grow at a CAGR of 2.28% during the forecast period. The growing demand for individualized smoking experiences among consumers looking for novelty and variety in their tobacco consumption is driving the single capsule menthol cigarette market. This market allows smokers to control the menthol flavor intensity by crushing the capsule inside the filter, creating a customized sensory experience with each puff. Additionally, the portability and convenience of single capsule menthol cigarettes appeal to consumers who are constantly on the go and value convenience and flexibility in their smoking habits.
The male segment dominated the global menthol cigarette market share in 2023 and is estimated to grow at a significant CAGR throughout the projection period.
Based on the end-user, the global menthol cigarette market is classified into male and female. Among these, the male segment dominated the global menthol cigarette market share in 2023 and is estimated to grow at a significant CAGR throughout the projection period. The male segment in the menthol cigarette market is driven by numerous major factors, such as the increasing demand for menthol cigarettes among male smokers is spurred by the need for a pleasant and stimulating smoking experience. Menthol's cooling feeling delivers a unique sensory delight, particularly liked by male smokers who seek a more pleasurable and rewarding smoking habit. Furthermore, social factors such as peer pressure and cultural norms impact the male market, which helps explain why menthol cigarettes are so widely accepted and well-liked by male smokers.
The supermarkets segment held the largest share of 42.26% in 2023 and is estimated to grow at a significant CAGR throughout the projection period.
Based on the distribution channel, the global menthol cigarette market is divided into supermarkets, hypermarkets, online stores, convenience stores, and others. Among these, the supermarkets segment held the largest share of 42.26% in 2023 and is estimated to grow at a significant CAGR throughout the projection period. The growing desire from consumers for convenience, variety, and affordable prices is driving the supermarket sector. With a large variety of goods under one roof, supermarkets provide a one-stop shopping experience for a variety of customer needs. In addition to the availability of packaged items, fresh vegetables, and household necessities, the convenience element draws in busy shoppers who want to make their shopping visits more efficient. Supermarkets also use economies of scale to negotiate with suppliers for advantageous prices, which enables them to provide customers with competitive rates and discounts.
Asia Pacific is expected to hold the largest share of the global menthol cigarette market through the forecast period.
Asia Pacific is expected to hold the largest share of the global menthol cigarette market through the forecast period. This market is mostly impacted by the region's high population density nations, such as China and India, as well as the fact that smoking has long been a part of many civilizations' customs and cultures. This market's expansion is further aided by the increasing number of international and global brand products that are available in the area. There are additional development prospects for this market due to the increase in disposable income, the high proportion of youthful customers in the region, and improved accessibility through many points of sale.
North America is predicted to grow at the fastest CAGR of the global menthol cigarette market over the forecast period. This market is expanding as a result of factors such as new product development, rising demand from younger consumers, and innovative marketing techniques used by businesses. Many businesses have added products such as mixed flavors and double capsule goods to their portfolios in recent years. This can be ascribed to the large number of current users, accessibility, and the nation's major tobacco-producing regions, including North Carolina, Kentucky, and others.
Company Profiling
Major key players in the global menthol cigarette market include Philip Morris Products S.A., Imperial Brands plc, Alfred Dunhill, Ltd., Gudang Garam Tbk, PT Djarum, BAT (British American Tobacco), KT&G Corp., Japan Tobacco Inc., China National Tobacco Corporation (CNTC), and others.
Recent Development
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global menthol cigarette market based on the below-mentioned segments:
Global Menthol Cigarette Market, By Type
Global Menthol Cigarette Market, By End-User
Global Menthol Cigarette Market, By Distribution Channel
Global Menthol Cigarette Market, By Regional Analysis
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