Business

Menthol Cigarette Market is Expected to Reach US$ 118.4 Billion by 2032 – IMARC Group

The latest report by IMARC Group, titled “Menthol Cigarette Market Report by Capsule Type (Single Capsule Menthol Cigarette, Double Capsule Menthol Cigarette), End-User (Male, Female), Size (King Size, 100s, and Others), Distribution Channel (Supermarkets, Hypermarkets, Online Retailers, and Others), and Region 2024-2032“, The global menthol cigarette market size reached US$ 94.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 118.4 Billion by 2032, exhibiting a growth rate (CAGR) of 2.4% during 2024-2032.

Factors Affecting the Growth of the Menthol Cigarette Industry:

  • Consumer Preference and Perception:

Menthol cigarettes hold a unique appeal for smokers globally, largely due to their minty flavor and perceived cooling sensation. Consumer preference plays a pivotal role in driving the demand for menthol cigarettes. Menthol flavoring has been shown to reduce the harshness and irritation associated with smoking, making it more palatable for many smokers, particularly novice or occasional smokers. This preference is further amplified by marketing strategies that often associate menthol cigarettes with a sense of refreshment or relaxation, tapping into consumer desires for pleasurable experiences. Moreover, the perception that menthol cigarettes are less harmful than non-menthol counterparts has also contributed to their popularity, although this perception is increasingly being challenged by scientific evidence.

  • Regulatory Landscape:

The regulatory environment significantly impacts the global menthol cigarettes market. Governments worldwide have implemented various regulations aimed at controlling tobacco consumption, including restrictions on advertising, packaging, and flavorings. In recent years, there has been a growing trend toward banning or restricting menthol cigarettes due to concerns about their appeal to youth and potential health risks. However, the regulatory landscape varies across countries, with some regions imposing stricter regulations than others. These regulatory changes affect the availability and marketing of menthol cigarettes and also influence consumer behavior and market dynamics.

  • Market Expansion Strategies:

Tobacco companies continually seek to expand their market share and increase sales of menthol cigarettes through various strategies. One such strategy involves product innovation and diversification, with companies introducing new menthol cigarette variants to cater to evolving consumer preferences. Additionally, aggressive marketing tactics, such as promotional campaigns and discounts, are employed to attract new consumers and retain existing ones. Furthermore, the globalization of tobacco markets has facilitated the expansion of menthol cigarette sales into emerging economies, where demand for flavored tobacco products is on the rise. However, these expansion efforts are not without challenges, as companies must navigate complex regulatory frameworks and changing consumer attitudes toward tobacco use.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/menthol-cigarette-market/requestsample

Competitive Landscape with Key Player:

  • Alfred Dunhill Ltd
  • Altria Group
  • British American Tobacco p.l.c.
  • China National Tobacco Corporation
  • Commonwealth Brands
  • Essentra plc
  • Imperial Brands PLC
  • Japan Tobacco Inc.
  • KT&G Corporation
  • Liggett Vector Brands LLC
  • Reynolds American Inc 
  • Philip Morris International Inc

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Capsule Type:

  • Single Capsule Menthol Cigarette
  • Double Capsule Menthol Cigarette

Single capsule menthol cigarette dominates the market due to its convenience and ability to provide customizable menthol intensity with each smoke, catering to diverse consumer preferences.

Breakup by End-User:

  • Male
  • Female 

Male holds maximum number of shares due to historically higher rates of smoking prevalence among men compared to women.

Breakup by Size:

  • King Size
  • 100s
  • Others 

King size represents the largest segment as it offers consumers a longer smoking experience without compromising on convenience or portability.

Breakup by Distribution Channel:

  • Supermarkets
  • Hypermarkets
  • Online Retailers
  • Others 

On the basis of the distribution channel, the market has been segmented into supermarkets, hypermarkets, online retailers, and others.

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Asia Pacific’s dominance in the menthol cigarette market is attributed to its large population, high smoking prevalence, and increasing disposable income levels, driving substantial demand for menthol cigarettes in the region.

Global Menthol Cigarette Market Trends:

Cultural factors play a significant role in shaping the demand for menthol cigarettes in different regions. In some cultures, menthol cigarettes are deeply ingrained as part of social customs and traditions, contributing to their sustained popularity. For instance, in certain Asian countries, menthol cigarettes are often associated with rituals, ceremonies, or social gatherings, which reinforces their consumption among certain demographic groups. These cultural influences create a stable market base and contribute to the resilience of menthol cigarette sales in specific regions. Other than this, the distribution and accessibility of menthol cigarettes also impact their market dynamics. Accessibility to retail outlets, including convenience stores, supermarkets, and tobacco specialty shops, influences consumer purchasing decisions. Moreover, the availability of menthol cigarettes through various channels, such as online platforms and duty-free stores, expands their reach to a broader consumer base. Efficient distribution networks and widespread availability ensure that menthol cigarettes remain easily accessible to consumers, contributing to sustained demand and market growth.

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

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact US

IMARC Group

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Email: sales@imarcgroup.com
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