flavour capsule cigarette market set to hit US$9,654 million by 2023, with a projected 11% CAGR leading to a value of US$26,903.3 million by 2033. Expansion driven by diverse flavorings, shifting consumer preferences, and increased disposable income, while market leaders focus on competitive pricing and continuous improvements for heightened customer satisfaction and enjoyment
Future Market Insights expects the global flavour capsule cigarette market to reach US$ 9,654 million by 2023-end. From 2023 to 2033, the market is most likely to expand at a CAGR of 11% to be valued at US$ 26,903.3 million.
Drivers and obstacles have an impact on market dynamics, which can affect businesses. View a sample report with more details here :
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The availability of a large range of flavourings, such as menthol, clove, cocoa fruit flavour, spearmint, mint, and others, along with changes in consumer preferences and increased disposable money, are all contributing factors to the market’s expansion. The industry has expanded because consumers may choose flavours based on their personal preferences. The leading market players offer these items at competitive costs and are always making improvements to make it easier for people to purchase and enjoy these tastes. This raises customer satisfaction and enjoyment levels.
The development of a wider variety of cigarette types, increased investments from significant players in developed and developing nations, and rising consumer demand are all contributing to the growth of flavor-infused capsule cigarettes. A significant portion of company investments go towards research and development. Furthermore, more aggressive advertising campaigns have led to an increase in overall sales of flavour capsule cigarettes; according to reports, advertising is believed to be responsible for close to 50% of the increased sales.
In addition to manufacturers adopting heated tobacco products technology, which aims to reduce emissions of carbon monoxide (CO), hydrogen cyanide (HCN), and other pollutants, the millennial generation’s preference for a variety of flavour capsules is anticipated to fuel the growth of the cigarette flavour capsules industry in the forecast period.
Key Takeaways
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- The United States flavour capsule cigarette industry 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.
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
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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 industry providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the flavour capsule cigarette industry, the market is segmented on the basis of flavour, product type, price range, distribution channel and region.
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
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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