Global Menthol Cigarette Market, Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Forecast to 2029
“Global Menthol Cigarette Market’ is the title of an upcoming research report being prepared at MarketResearch.biz. Key factors have been studied and assessed in-depth to ensure that vital information and data are presented in the report with well-organized flow and format. Revenue shares of each segment, region, and countries have been included along with revenue growth driving factors, restraints, as well as opportunities in untapped regions and economies. The company profiles of key players comprise detailed information, recent developments, strategies, and acquisitions & mergers, etc. The menthol cigarette market is segmented on the basis of capsules, end-user, and regions/countries.
Global Menthol Cigarette Market: Overview
A menthol cigarette is a cigarette that contains menthol compounds that are meant to provide additional flavoring. The process of producing menthol involves corn mint extraction in some cases, while in other cases it is produced synthetically.
Global Menthol Cigarette Market: Dynamics
Drivers: The increasing popularity of menthol cigarettes among younger individuals can be attributed to the favorable effects that these products have on them. In contrast to regular cigarettes, menthol cigarettes produce a cooling effect that has an anesthetic or painkilling effect and the smoke produced is mild, allowing smokers to inhale with ease. Occasional smokers, beginners and individuals who are attempting to quit smoking, are among major consumers of such products. These consumers often complain about harsh levels of smoke that are produced from regular cigarettes as they find it difficult for them to inhale. Menthol cigarettes are proving to be an ideal option for consumers such as these, which is subsequently leading to increasing demand for these products.
In addition, regular smokers are steadily inclining towards the adoption of cigarettes that consist of high levels of menthol. This can be attributed to the ability of the product to offer relief for throat irritation that may have been caused due to the excessive smoking of regular cigarettes. The pleasant smell that menthol cigarettes emanate is further contributing to the increasing adoption of this product among women and younger age groups of the population.
Restraints: However, due to the harmful effects of menthol, market growth is expected to witness a decline over the next ten years. The US Food and Drug Administration (FDA) has proposed to impose a ban on the product. This is followed by some major regulatory policies adopted by the American government as well as other governments in North and Latin America. Such initiatives are expected to reduce the consumption of menthol cigarettes in the foreseeable future.
Global Menthol Cigarette Market Segment Analysis:
By Capsule: Among the capsule segments, the single capsule segment is projected to continue to account for the majority revenue share over the forecast period. Such capsules allow consumers to facilitate the effects of menthol by bursting the capsule that is present in the filter of the cigarette.
By End-user: The male segment is expected to account for the highest revenue share over the next ten years. This is attributed to the rising adoption of menthol cigarette consumption by men in recent years owing to the cool, refreshing sensation that these products stimulate.
Global Menthol Cigarette Market Regional Analysis:
The Asia Pacific market is projected to continue to lead the global market in terms of the majority of revenue shares over the forecast period. Increasing product launches, constant product innovations, rising per-capita incomes, as well as the reduction in taxation rates are factors contributing to this market’s growth. China is a major revenue contributor to the region owing to the growing production of this product.
The market in Latin America is projected to index a high Compounded Annual Growth Rate (CAGR) over the coming years. The popularity of single and double capsule cigarettes among female and male consumers in this region is a major factor that is contributing to subsequent market growth.
Global Menthol Cigarette Market Segmentation:
- Single Capsule
- Double Capsule
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Philip Morris International Inc.
- Imperial Brands plc
- Korea Tobacco & Ginseng Corporation
- Alfred Dunhill Ltd.
- J. Reynolds Tobacco Company
- British American Tobacco
- Commonwealth Brands
- Liggett Group
- Lorillard Tobacco
- Essentra plc
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