Flavour Capsule Cigarette Market Reflecting a CAGR of 11% During the Forecast Pe
Posted by ankush Nikam on September 20th, 2019
According to a new study by FMI, sales of flavour capsule cigarette is expected to surpass ~ US$ 7,350 Mn in 2019. The rise in the demand of the flavour capsule cigarettes is due to various factors but the main factors remain price and innovations, which is driving the flavour capsule cigarette market. Also, the enjoyment from clicking the capsule, taste, choice of flavours affect the flavour capsule cigarette market positively.
“Flavour capsule cigarettes were launched with an intention to attract the consumers who disliked the flavour of tobacco, resulting into significant market growth. As the demand from younger population and women increases, companies have started launching many more options by using the burst technology. Thus, the market of flavour capsule cigarette is expected to have a very high share despite declining retail volume of conventional cigarettes,” says FMI report.
Flavour capsule cigarettes are available in various flavours and single and double capsule type. Besides, the flavour capsule cigarette is available in various price range including economy and premium. The flavour capsule cigarette was launched in the year 2007. It has grown exponentially and the trend is likely to continue with incorporation of new technologies and increasing consumer base. Additionally, it increases the competition among the manufacturers to stay up-to-date with the product launches.
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Various flavours such as menthol, clove, fruit and many others including chocolate, honey, peach, rum, strawberry, bubble gum, candy, and vanilla are available in flavour capsule cigarette. In a single capsule, one of the flavours out of the above is present. However, in double capsule, two flavours are present together and the consumer has the option to burst one or both the capsules.
Demand Increases Despite Declining Retail Volume of Cigarettes
The retail volume of cigarettes is decreasing as the demand for smoke-free nicotine consumption and vapour form is on the rise. However, the launch of the flavour capsule cigarette has attracted consumers from different gender and age groups. The availability of various flavours and the choice of bursting more than one flavour increased the interest among the consumers. Among the flavours in the flavour capsule cigarettes, menthol leads, as the market share of the menthol flavour in 2019 was more than 50%. Manufacturers are targeting women smokers with the other flavours, and thus it is expected to increase in the upcoming years.
Innovation in the Flavour Capsule Cigarette Market is driving the Market to Grow by a Double-Digit
Owing to continuous launch of new products and flavours along with significant innovations, the flavour capsule cigarette market is expected to grow at an impressive CAGR of ~11%. As consumers are always curious to try new things, manufacturers of flavour capsule cigarette are utilizing this trait to maintain the demand among the consumers and attract more consumers to try out the product. These cigarettes are primarily sold at premium prices, while manufacturers are targeted towards offering their products at economy price range.
This study by FMI offers insights into the flavour capsule cigarette market for the forecast period of 2019-2027. The flavour capsule cigarette market is projected to record a CAGR of over 11% during the predefined timeframe.
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About the Authorankush Nikam
Joined: December 21st, 2016
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