Cigarette Filters Global Market Report 2024 Market Research 2024-2033 - Size, Outlook, Overview And Competitor Analysis

"The Business Research Company recently released a comprehensive report on the Global Cigarette Filters Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The cigarette filters market size has grown strongly in recent years. It will grow from $35.93 billion in 2023 to $38.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increasing health awareness, expansion of tobacco products, growing environmental concerns, rising disposable income, and increasing investment in research and development.

The cigarette filters market size is expected to see strong growth in the next few years. It will grow to $51.10 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to growing demand for reduced harm products, rising use of activated charcoal filters, rising influence of smoking cessation programs, rising competition in the tobacco industry, and growing popularity of menthol cigarettes. Major trends in the forecast period include technological advancements, biodegradable filters, integration of activated charcoal, smart filters, and low-tar cigarettes.

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Market Drivers and Trends:

The increase in the number of cigarette smokers is expected to propel the growth of the cigarette filters market going forward. A cigarette smoker is an individual who habitually consumes cigarettes, which are small, tobacco-filled paper rolls that are smoked by inhaling and exhaling the resulting smoke. The increasing number of cigarette smokers is due to several factors, such as cultural influences, public policies, and socioeconomic conditions. Cigarette filters are integral to modern smoking habits, providing a combination of reduced harm, an improved smoking experience, and compliance with regulatory standards. For instance, in September 2023, according to the Office for National Statistics, a UK-based government department, around 6.4 million adults over 18 smoked cigarettes in 2022, accounting for 12.9% of the population. Therefore, an increase in the number of cigarette smokers is driving the growth of the cigarette filters market.

Major companies operating in the cigarette filters market are focused on developing innovative products, such as plastic-free filters, to address environmental concerns and reduce the ecological impact of cigarette waste. A plastic-free filter is a cigarette filter made from biodegradable, natural materials instead of plastic, designed to minimize environmental impact by decomposing more easily and avoiding plastic pollution. For instance, in July 2024, Filtrona Pte Ltd., a Singapore-based manufacturer of cigarette filters, launched the ECO Tube Triple Carbon Filter, a new plastic-free filter for roll-your-own (RYO) cigarettes. This sustainable design delivers similar nicotine levels to current filters, provides a unique visual experience, and offers a clean post-smoking experience. The ECO Tube Triple Carbon Filter meets the EU Single Use Plastics Directive requirements, is biodegradable, and degrades more rapidly than filters made with cellulose acetate, achieving 90% biodegradation in 90 days. Compared to existing impregnated carbon paper filters, the ECO Tube Triple Carbon Filter has up to four times higher carbon loading capability.

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Major Key Players of the Market:

Imperial Brands plc, British American Tobacco, Altria Group Inc., Solvay S.A., Celanese Corporation, Eastman Chemical Company, Gudang Garam, Sappi Limited, KT&G Corporation, Daicel Corporation, Alliance One International Inc., Essentra plc, Miquel y Costas & Miquel S.A., Philip Morris International Inc., Nemuno Banga LLC, Japan Tobacco International, SWM International, Cerdia International GmbH, Shanghai Tobacco Group, TarGard Filters

Cigarette Filters Market 2024 Key Insights:

• The cigarette filters market size is expected to see strong growth in the next few years. It will grow to $51.10 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Increase In Cigarette Smokers Drives Growth Of Cigarette Filters Market
• Innovation In Plastic-Free Filters Boosts Competitive Edge In The Cigarette Filter Market
• Asia-Pacific was the largest region in the cigarette filters market in 2023

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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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