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Published: Jul, 2019 | Pages:
80 | Publisher: Grand View Research
Industry: Consumer Goods | Report Format: Electronic (PDF)
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. 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. 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. 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
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Menthol Cigarette Market: Capsule Estimates & Trend Analysis
5.1. Capsule Movement Analysis & Market Share, 2018 & 2025
5.2. Single Capsule Menthol Cigarette
5.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.3. Double Capsule Menthol Cigarette
5.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Chapter 6. Menthol Cigarette Market: End User Estimates & Trend Analysis
6.1. End User Movement Analysis & Market Share, 2018 & 2025
6.2. Male
6.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
6.3. Female
6.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Chapter 7. Menthol Cigarette Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2018 & 2025
7.2. North America
7.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.2.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.2.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.2.4. U.S.
7.2.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.2.4.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.2.4.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.3. Europe
7.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.3.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.3.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.3.4. Russia
7.3.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.3.4.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.3.4.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.3.5. Germany
7.3.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.3.5.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.3.5.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.4. Asia Pacific
7.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.4.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.4.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.4.4. China
7.4.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.4.4.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.4.4.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.4.5. Indonesia
7.4.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.4.5.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.4.5.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.5. Central & South America
7.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.5.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.5.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.5.4. Brazil
7.5.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.5.4.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.5.4.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.6. Middle East & Africa (MEA)
7.6.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.6.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.6.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
7.6.4. South Africa
7.6.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.6.4.2. Market estimates and forecast, by Capsule, 2015 - 2025 (USD Million)
7.6.4.3. Market estimates and forecast, by End User , 2015 - 2025 (USD Million)
Chapter 8. Competitive Analysis
8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. Key company market share analysis, 2018
Chapter 9. Company Profiles
9.1. Philip Morris International Inc
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Imperial Brands plc
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Korea Tobacco & Ginseng Corporation
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. Alfred Dunhill, Ltd.
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. R.J. Reynolds Tobacco Company
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. British American Tobacco
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Commonwealth Brands
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. Liggett Group
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. Lorillard Tobacco
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. Essentra plc
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic Initiatives
List of Tables 1. Menthol Cigarette - Key market driver analysis 2. Menthol Cigarette - Key market restraint analysis 3. Global Single Capsule Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 4. Global Double Capsule Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 5. Global Menthol Cigarette market estimates and forecast for Male, 2015 - 2025 (USD Million) 6. Global Menthol Cigarette market estimates and forecast for Female, 2015 - 2025 (USD Million) 7. North America Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 8. North America Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 9. North America Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 10. U.S. Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 11. U.S. Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 12. U.S. Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 13. Europe Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 14. Europe Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 15. Europe Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 16. Russia Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 17. Russia Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 18. Germany Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 19. Germany Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 20. Germany Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 21. Germany Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 22. APAC Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 23. APAC Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 24. APAC Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 25. Indonesia Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 26. Indonesia Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 27. Indonesia Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 28. China Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 29. China Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 30. China Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 31. CSA Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 32. CSA Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 33. CSA Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 34. Brazil Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 35. Brazil Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 36. Brazil Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 37. MEA Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 38. MEA Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 39. MEA Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 40. South Africa Menthol Cigarette market estimates and forecast, 2015 - 2025 (USD Million) 41. South Africa Menthol Cigarette market revenue estimates and forecast by Capsule, 2015 - 2025 (USD Million) 42. South Africa Menthol Cigarette market revenue estimates and forecast by End User , 2015 - 2025 (USD Million) 43. Vendor landscape
List of Figures 1. Menthol Cigarette market snapshot 2. Menthol Cigarette market segmentation & scope 3. Menthol Cigarette market penetration & growth prospect mapping 4. Menthol Cigarette value chain analysis 5. Menthol Cigarette market dynamics 6. Menthol Cigarette market Porter's analysis 7. Menthol Cigarette market: Capsule movement analysis 8. Menthol Cigarette market: End User movement analysis 9. Menthol Cigarette market: Regional movement analysis
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