Impact of COVID-19 on Flavor Capsule Cigarette Market: Implications on Business
Vapers and smokers are now experiencing a tectonic shift of approach towards the flavor capsule cigarettes. These cigarettes now come with heated tobacco product technology or HTP technology that helps in cutting down the toxicity as compared to the conventional cigarettes. These new flavor capsule cigarettes burn at 250 to 350 degree Celsius as compared to the near 600 degree Celsius temperature of conventional cigarettes. The flavor capsule cigarette offers the nicotine-infused smoke to the customers by heating up the tobacco sticks, and removing the need for the combustion of tobacco. These HTP-technology driven flavor capsule cigarettes release comparatively less carbon monoxide, carcinogen, and tar.
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Global Flavor Capsule Cigarette Market: Notable Developments
The competitive landscape of the global flavor capsule cigarette market is fairly consolidated one. The prominent companies in the market include names such as L&M, Kent, and Marlboro among others. The mentioned three companies collectively account for nearly one third of the global market’s revenue. The companies in the market are working towards developing rich smoking experience for the consumers with long-lasting sticks and appealing flavors.
- Recently, Marlboro, a giant in the global flavor capsule cigarette market announced that the company is now planning to enter into the market for e-cigarettes. It will test ‘heat not burn’ tobacco in Atlanta.
- The flavor capsule cigarette manufacturers are now concentrating on developing niche flavors such as spearmint, grape, and apple among others to lure new customers. Moreover, the popularity of menthol among millennials is also helping the companies to shift their strategies accordingly.
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Global Flavor Capsule Cigarette Market: Drivers and Restraints
The growth of the global flavor capsule cigarette market is expected to be on the rise over the course of the given forecast period of 2019 to 2027. One of the primary reasons behind this growth is the increasing number of people choosing to smoke flavored cigarettes than the conventional non-flavored ones. Moreover, the leading companies in the global flavor capsule cigarette market are launching newer products such as double capsule flavor cigarette. Such new cigarettes present smokers with novel flavors and so-called smoking experience. This is expected to play a huge role in the development of the market over the next few years. In addition to this, the leading players in the market are also focusing on developing triple flavor capsule cigarettes to extend the smoking session of the user.
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Global Flavor Capsule Cigarette Market: Geographical Outlook
The global flavor capsule cigarette market has five key geographical regions that help in the better understanding of its overall functioning. These five regions are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, currently the flavor capsule cigarette market has been primarily dominated by the North America region. However, the Asia Pacific region is also expected to witness a solid growth in coming years. The growth of the North America region can be primarily attributed to the considerable rise in the number of consistent smokers. Also, the rise in the number of first-time smokers have also been a huge factor in the development of the North America market. As the number of chain smokers and young adults prefer smoking, the cigarette manufacturers are now concentrating on developing new flavors to attract more customers. They are focusing on both developed and developing nations to expand their business.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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