The flavour capsule cigarette market is set to reach $9,654 million by 2023 and is projected to grow at an 11% CAGR to $26,903.3 million by 2033. The expansion is driven by varied flavor options, changing consumer preferences, increased spending power, and competitive pricing strategies of key players, aiming to enhance customer satisfaction.
By the end of 2023, Future Market Insights projects that the global market for flavor-capped cigarettes would have grown to US$ 9,654 million. With a compound annual growth rate (CAGR) of 11%, the market is expected to reach a valuation of US$ 26,903.3 million by 2033.
The market is growing because of the availability of a wide variety of flavourings, including menthol, clove, cocoa fruit flavour, spearmint, mint, and others. It is also growing because of changes in consumer preferences and a rise in disposable income. Due to the fact that consumers can select flavours according to their own preferences, the market has grown. The market leaders provide these products at competitive prices and are constantly refining their offerings to make it more convenient for consumers to buy and indulge in these pleasures. Customers are more satisfied and enjoy themselves as a result.
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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
- 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.
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 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.
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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Author by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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