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Menthol Cigarette Market Share, Growth 2019-2025 | Industry Report

Menthol Cigarette Market Analysis Report By Capsule, By End User, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619811  |  Published: June 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global menthol cigarette market size was worth USD 80.0 billion in 2018. The market is expected to grow at a CAGR of 3.1% over the forecast period, 2019 to 2025. Menthol ability to offer fresh, anesthetic effect and the cooling effect is generating a huge appeal among the younger generation and thereby driving the market growth. Menthol is known to make the cigarette smooth for inhaling by reducing the smoke’s harness, thus making it popular among beginners and women smokers.

There has been a considerable rise in the number of menthol cigarette smokers owing to growing intolerance and irritation from non-menthol products. Growing demand for flavor-based cigarette further proliferates the sales of menthol cigarettes. Moreover, a large number of occasional smokers and smokers willing to quit smoking prefer menthol flavor as they find it mild and less harmful. Additionally, matured menthol smokers are seeking comparatively higher concentration of menthol to get relief against dryness, burn andirritationin throat caused due to non-menthol cigarette.

U.S. menthol cigarette market

Menthol flavor attracts many millennials smokers including women as it provides refreshing smell while smoking. It has been found that the number of people smoking menthol cigarette is constant while non-menthol cigarette smokers have reduced in number over the past few years. Menthol tends to increase the addictive substance in the human body while decreasing the metabolism of nicotine, thus making it difficult to quite. All these aforementioned factors are expected to supplement the menthol cigarettes market growth over the forecast period.

However, the proposal for the potential ban by the FDA on menthol cigarette is expected to adversely affect market growth. This ban is expected to increase the black and illicit marketing of menthol flavor based cigarette. Apart from banning the menthol flavor in few regions, governments across the globes are continuously increasing the taxes on tobacco product. Governments’ aims behind increasing the taxes are to reduce cigarette consumption. These factors are likely to hinder the growth of the market.

Capsule Insights

Based on the capsule type, the market is categorized into a double capsule and a single capsule. Among them, a single capsule held the largest market share with 88.8% in 2018. In a single capsule, consumers can easily change the flavor strength by compressing the filter inside. Introduction of innovative product in this segment has enabled smokers to press the capsule as they need. Such capsule allows consumers to smoke either flavor or non-flavor cigarette, thus attributing to the market growth.

On the other hand, a double capsule is likely to exhibit the CAGR of 3.3% during the forecast period. This capsule type is available in two flavors, thus providing an option to consumers to feel the taste of two different flavors. Growing demand for this flavor among young and women consumers is expected to fuel the market growth. Further, matured menthol smokers who are more inclined toward flavor and taste are increasingly opting for double capsule menthol cigarette.

End User Insights

Among different end-users, male segmented accounted for 57.3% of the menthol cigarettes market share in 2018. In this segment, younger generations are the major contributors in the overall consumption of menthol cigarette. Among all smokers from high schools, 54.5% smoke menthol cigarette while this number is 48.4% among all middle school students.

Global menthol cigarette market

Growing demand for flavor based and refreshing cigarette among males is attributing to the growth of this segment. Nearly 90% of all African American cigarette smokers prefer menthol cigarette in the United States while only 26% of white smokers prefer menthol flavor.

On the other hand, the female segment is likely to grow at a CAGR of 2.9% during the forecast period. Female accounts for a significant number of smokers in Europe, North America and South America. Female accounted for 57.5% of the share in Europe in 2018. Overall, nearly 40% of the women prefer menthol flavor while only 31% of men prefer menthol flavor to non-menthol cigarette.

Regional Insights

Asia Pacific occupied the largest share with 64.2%, in 2018. The region is projected to grow at the fastest growth rate throughout the forecast period. In Asia Pacific, China alone held nearly 50% of the market share. Increasing purchasing power and introduction of new products are attributing to the growth of China. Nearly 300 new products were introduced in the Chinese market from 2016 to 2017. Male smokers held 52.2% of the market share while female contributed to 47.8% of the market share in China, in 2018.

On the other hand, Central and South America are expected to grow at a significant CAGR of 3.2% over the forecast period. Growing demand for single as well as double capsule products owing to their smoothness is driving the demand in the region. Female smokers prefer menthol flavorto male in Central &South America thus, this segment is expected to grow at a faster rate during the forecast period.

Menthol Cigarette Market Share Insights

Key players operating the market are Imperial Brands plc, Alfred Dunhill, Commonwealth Brands, Lorillard Tobacco, Tobacco & Ginseng Corporation, Philip Morris International Inc., Korea Tobacco & Ginseng Corporation and Imperial Brands plc among others. Companies are focusing on strategic measures like a new product launch, merger & acquisition to strengthen their hold in the market.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USDMillion and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and MEA

Country scope

U.S., Russia, Germany, China, Indonesia, Brazil, and South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenuegrowth at global, regional, and countrylevels, andprovides an analysis on latest industrytrends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global menthol cigarette market report on the basis of capsule, end user, and region:

• Capsule Outlook (Revenue, USD Million, 2015 - 2025)
    • Single Capsule
    • Double Capsule

• End User Outlook (Revenue, USD Million, 2015 - 2025)
    • Male
    • Female

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Russia
        • Germany
    • Asia Pacific
        • China
        • Indonesia
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

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