Menthol Cigarette Market Size To Reach $124.38 Billion By 2030

Menthol Cigarette Market Growth & Trends

The global menthol cigarette market size is expected to reach USD 124.38 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% from 2025 to 2030. 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.

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Menthol Cigarette Market Report Highlights

• Single capsule accounted for the largest share of 88.1% in 2024

• By end user, the male segment accounted for the largest share of 57.3% in 2024

• Asia Pacific dominated the global menthol cigarette market with a revenue share of 67.2% in 2024.

Menthol Cigarette Market Segmentation

Grand View Research has segmented the global menthol cigarette market report based on capsule, end use, and region:

Menthol Cigarette Capsule Outlook (Revenue, USD Million,  2018 - 2030)

• Single Capsule

• Double Capsule

Menthol Cigarette End Use Outlook (Revenue, USD Million,  2018 - 2030)

• Male

• Female

Menthol Cigarette Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Russia

  • Germany

  • U.K.

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East

  • South Africa

List of Key Players in Menthol Cigarette Market

• Philip Morris Products S.A.

• Imperial Brands plc

• KT&G Corp.

• Alfred Dunhill, Ltd.

• BAT (British American Tobacco)

• Japan Tobacco Inc.

• China National Tobacco Corporation (CNTC)

• Gudang Garam Tbk

• PT Djarum