By the end of 2023, Future Market Insights projects that the global flavour capsule cigarette market will be worth $9,654 million. The market is most anticipated to grow at a CAGR of 11% from 2023 to 2033, reaching a value of US$ 26,903.3 million.
The growth of the market is being driven by factors such as increased demand due to rising disposable income, lifestyle shifts, and the availability of a wide range of flavored cigarettes including menthol, clove, chocolate fruit flavor, spearmint, mint, and more. Customers now have the freedom to choose flavors based on their personal preferences, leading to the expansion of the market. Key market players are offering these products at affordable rates and continuously innovating, making it convenient for customers to purchase and enjoy these flavors, resulting in greater satisfaction and enjoyment.
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The increasing investments from key players in both developed and underdeveloped nations, along with the production of a wider variety of cigarette types is further driving the demand for flavoured capsule cigarette. Significant portions of company investments are dedicated to research and development. Additionally, intensified advertising efforts have led to a surge in overall sales of flavored capsule cigarettes, with reports indicating that advertising has influenced approximately 50% of the increased sales.
The adoption of heated tobacco products technology by manufacturers, aimed at reducing emissions of carbon monoxide (CO), hydrogen cyanide (HCN), and other pollutants, coupled with the millennial preference for a variety of flavored capsules, is expected to propel the growth of the cigarette flavor capsules industry in the forecast period.
Key Takeaways
- The United States flavour capsule cigarette market is expected to grow with a CAGR of 4% during the forecast period.
- The market in China is expected to grow with a CAGR of 4.5% during the forecast period.
- By price range, the economic segment is projected to grow with an impressive CAGR of 15.4% during the forecast period.
- The market in India is expected to grow with a CAGR of 7.2% throughout the forecast period.
“The production of a wide variety of cigarette types by manufacturers and increasing millennial preference for flavored cigarette is expected to fuel the market growth during the forecast period,” comments an FMI analyst.
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Competitive Landscape
- Benson & Hedge
- Bohem Café
- Camel Double
- Chesterfield
- Craven a Click
- Davidoff
- Dunhill
- Esse
- Fortune Tribal
- Harmony
- Hallywood
- Imperial Tobacco (Winston)
- Insignia
- ITC (Gold Flake)
- Kent
- L&M
- Lucky Strike
- Marlboro
- Pall Mall
Some recent developments in the market are:
Prominent market players are implementing organic growth strategies such as acquisitions, mergers, partnerships, and collaborations to strengthen their product portfolios. This concerted effort is anticipated to drive the growth of the global flavor capsule cigarette market.
- Poda Lifestyle and Wellness Ltd. introduced a patent-protected Heat-Not-Burn system for capsule cigarettes in June 2021. This innovative system aims to eliminate the cleaning requirement for smokers.
- Republic Technologies introduced two flavor fusion cards in January 2021, designed for use with their Swan cigarette filters brand, catering to self-rolled cigarette smokers.
- In March 2020, JTI expanded its product line in the United Kingdom by introducing new and unique flavor blends, replacing their previous menthol capsule cigarettes.
- Marlboro introduced Marlboro Kretek Mint in January 2020, a distinct blend of Indonesian clove and menthol flavors that offers a unique taste experience.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global flavour capsule cigarette market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the flavour capsule cigarette market, the market is segmented on the basis of flavour, product type, price range, distribution channel and region.
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Key Segmentation:
By Flavour:
- Menthol Flavoured
- Clove Flavoured
- Fruit Flavoured
- Others
By Product Type:
- Single Capsule
- Double Capsule
By Price Range:
- Economic
- Premium
By Distribution Channel:
- Direct Sales
- Retail Sales
- Modern Trade
- Specialty Stores
- Convenience Stores
- Online Retailing
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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