Clove Cigarettes Market in APAC 2019-2023| Rising Consumption of Clove Cigarettes Among the Young Demographics to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Jan 2, 2019--The clove cigarettes market in APAC is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by .
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Technavio has published a new market research report on the clove cigarettes market in APAC from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing number of new product launches. The increasing number of innovative and new product launches has boosted the clove cigarettes market in APAC over the last five years. The rise in demand for machine-made clove cigarettes in different countries in APAC leads vendors to continually launch innovative products, with an aim to expand their customer base. Vendors focus on launching the premium range of clove cigarettes. For example, in December 2017, PHILIP MORRIS INTERNATIONAL MANAGEMENT’s subsidiary Sampoerna launched a new product named Platinum A. Cherry, menthol, vanilla, grape, orange, cocoa, strawberry, pineapple, licorice, and coconut are some of the prominent flavors that are mixed with cloves and tobacco by vendors, with an aim to differentiate and innovate their products.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rising consumption of clove cigarettes among the young demographics as one of the key emerging trends in the clove cigarettes market in APAC:
Clove cigarettes market in APAC: Rising consumption of clove cigarettes among the young demographics
The spicy flavor of cloves and attractive packaging of these cigarettes predominantly attracts young smokers. In 2017, over 5 million people (13-18 years education level population) in Indonesia used tobacco products with clove cigarettes being the predominant category. The rising consumption of clove cigarettes among the young population in Indonesia is an encouraging sign for the vendors operating in the market. Similarly, the youth population (under 21 years) in Singapore prefers to smoke flavored cigarettes, with menthol and clove cigarettes being the popular options. Increasing consumption of clove cigarettes by young demographics is an emerging trend in the clove cigarettes market in APAC.
“The clove cigarettes market in APAC has undergone a significant transformation over the last decade. With the rise in disposable income of consumers in developing economies of consumers’ willingness to try out new and premium variants of cigarettes has increased. Besides, the demand for the herbal cigarettes has also risen over the years. Flavors like menthol, cloves, cinnamon, and orange have become widely popular among consumers. as they not only provide the luxury of smoking but also provide a distinctive aroma and taste,” says a senior analyst at Technavio for research on food products.
Clove cigarettes market in APAC: Segmentation analysis
This market research report segments the clove cigarettes market in APAC by product (machine-made clove cigarettes and hand-rolled clove cigarettes) and geographical regions (Indonesia, Malaysia, Singapore, India, rest of APAC).
Geographically, Indonesia led the market in 2018 with a market share of close to 96%, followed by Malaysia, Singapore, and India, respectively. During the forecast period, Malaysia and India are expected to register the highest incremental growth.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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