The global menthol cigarette market size is expected to reach USD 99.1 billion by 2025, according to a new report by Grand View Research, Inc., 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.
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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.
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.
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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.
Menthol Cigarette Market Report Highlights
• 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.
Menthol Cigarette Market Segmentation
Grand View Research has segmented the global menthol cigarette market on the basis of capsule, end user, and region:
Menthol Cigarette Capsule Outlook (Revenue, USD Million, 2015 - 2025)
• Single Capsule
• Double Capsule
Menthol Cigarette End User Outlook (Revenue, USD Million, 2015 - 2025)
• Male
• Female
Menthol Cigarette Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o Russia
o Germany
• Asia Pacific
o China
o Indonesia
• Central & South America
o Brazil
• Middle East & Africa
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.