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At 3.1% CAGR, Menthol Cigarette Market Potentially Worth USD 99.1 billion by 2025 Dominated by Consumer Needs | Radiant Insights, Inc.

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At 3.1% CAGR, Menthol Cigarette Market Potentially Worth USD 99.1 billion by 2025 Dominated by Consumer Needs | Radiant Insights, Inc.

November 11
06:34 2019
At 3.1% CAGR, Menthol Cigarette Market Potentially Worth USD 99.1 billion by 2025 Dominated by Consumer Needs | Radiant Insights, Inc.

Radiant Insights, Inc.
New Market Research Reports Title “Menthol Cigarette Market by Player, Region, Type, Application and Sales Channel To 2025” Has Been Added to RadiantInsights.com Report Database.

The global Menthol Cigarette Market size is expected to reach USD 99.1 billion by 2025, expanding at a CAGR of 3.1% over the forecast period. The market growth is attributed to factors like fresh, clean, cooling, and anesthetic (pain killing) effect, ability to reduce harshness of smoke, and growing popularity among younger generation. Moreover, menthol cigarettes make the smoke smooth and easier to inhale by reducing harshness of smoke, thereby making it more popular among women, young generation, and beginner smokers.

The number of menthol cigarette smokers is increasing owing to the consumers who cannot tolerate the irritation and harshness of non-menthol cigarettes and those who seek specific flavor and sensation associated with menthol flavor. The mild property of menthol cigarettes is gaining popularity among occasional smokers, younger generation, and beginners.

Consumers who are trying to quit cigarettes are more inclined towards consumption of menthol cigarettes owing to the less harshness and less negative effect they feel while smoking. On the other side, established menthol smokers having strong sensory attributes are actively seeking for higher menthol concentration level as a remedy for burn, dryness, and throat irritation caused by smoking of non-menthol cigarettes.

The menthol cigarette smokers are constant whereas there is a decline in the smokers of non-menthol products, as menthol decreases the metabolism of nicotine and increases the amount of addictive substance in the body, making it more difficult to quit. Along with these factors, the positive association such as cooling sensation, sensory excitation, and minty taste makes it more difficult to quit.

However, FDA proposal regarding ban on menthol cigarettes is expected to create hurdles for the market growth in the forecast period. As a result, the illicit cigarette market is expected to fuel the market growth in the forecast period. Alongside ban, governments across the globe are increasing taxes on cigarettes and introducing new taxation policies to reduce their consumption. This factors are expected to hamper the growth of market in the forecast period.

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By capsule, the market is segmented as single capsule and double capsule. Single capsule accounted for the largest share of 88.8% in 2018. It allows the consumers to vary the strength of the flavor by bursting liquid ball inside the product. This innovation has given consumers a choice to burst the capsule for the flavor.

Double capsule is expected to register the fastest CAGR of 3.3% over the forecast period. Consumers are rapidly favoring for this type as it comes in two flavors, giving consumers an opportunity to experience two different flavors. Rapid growth in the demand is attributed to rising consumption among younger generation and women.

By end user, the menthol cigarette market is segmented into male and female. Male accounted for the largest share of 57.3% in 2018. Among males, younger generation holds the largest share in the overall consumption. Among all high school students cigarette smokers, 54.5% were menthol cigarette smokers and among all middle school students, the share was 48.4%. In U.S., 89% of all African American cigarette smokers consume menthol cigarettes. Whereas, 26% of the total white smokers consume them.

The female segment is expected to register a CAGR of 2.9% over the forecast period. In regions like North America, Europe, and Central and South America, female holds a significant share in the market. In Europe, female accounted for 57.5% share in 2018. Among all women, 40% of women prefer menthol cigarettes, whereas only 31% of male prefer these over others.

Asia Pacific accounted for the largest share of 64.2% in 2018 and is expected to witness the fastest growth over the forecast period. China alone accounted for approx. 50.0% of the APAC market in 2019 owing to rapid innovation in the products and increasing disposable income and purchasing power, nullifying the negative impact of taxation. The number of product launches from the year 2016 – 2017 were close to 300 new products, accounting for 50% of the product launches from the year 2012 – 2017.

Major market players include Philip Morris International Inc.; Imperial Brands plc; Korea Tobacco & Ginseng Corporation; Alfred Dunhill, Ltd.; R.J. Reynolds Tobacco Company; British American Tobacco; Commonwealth Brands; Liggett Group; Lorillard Tobacco; and Essentra plc.

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Further key findings from the report suggest:

• Single capsule accounted for the largest share of 88.8% in 2018

• By end user, the male segment accounted for the largest share of 57.3% in 2018

• Some of the key players operating in the global menthol cigarette market are Philip Morris International Inc.; Imperial Brands plc; Korea Tobacco & Ginseng Corporation; and Alfred Dunhill.

Table of Contents

Chapter 1. Methodology and Scope

                    1.1. Market Segmentation & Scope

                    1.2. Market Definition

                    1.3. Information Procurement

                        1.3.1. Purchased Database

                        1.3.2. GVR’s Internal Database

                        1.3.3. Secondary Sources & Third-Party Perspectives

                        1.3.4. Primary Research

                    1.4. Information Analysis

                        1.4.1. Data Analysis Models

                    1.5. Market Formulation & Data Visualization

                    1.6. Data Validation & Publishing

Chapter 2. Executive Summary

                    2.1. Market Outlook

                    2.2. Segmental Outlook

                    2.3. Competitive Insights

Chapter 3. Menthol Cigarette Market Variables, Trends & Scope

                    3.1. Market Introduction

                    3.2. Penetration & Growth Prospect Mapping

                    3.3. Industry Value Chain Analysis

                        3.3.1. Sales/Retail Channel Analysis

                        3.3.2. Profit Margin Analysis

                    3.4. Market Dynamics

                        3.4.1. Market Driver Analysis

                        3.4.2. Market Restraint Analysis

                        3.4.3. Industry Challenges

                        3.4.4. Industry Opportunities

                    3.5. Business Environment Analysis

                        3.5.1. Industry Analysis – Porter’s

                            3.5.1.1. Supplier Power

                            3.5.1.2. Buyer Power

                            3.5.1.3. Substitution Threat

                            3.5.1.4. Threat from New Entrant

                            3.5.1.5. Competitive Rivalry

                    3.6. Roadmap of Menthol Cigarette Market

                    3.7. Market Entry Strategies

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About Radiant Insight

Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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