Global Cigar & Cigarillos Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Cigar & Cigarillos Market” is the title of an upcoming market research report by MarketResearch.biz. Critical factors have been analyzed and studied in depth to present vital data and information in a well-planned format. In addition to the revenue shares of each segment, region/country, revenue growth driving factors, restraints, as well as opportunities in untapped regions and economies are included. The company profiles of key players comprise detailed information, recent developments, strategies, acquisitions & mergers, etc. The global cigars & cigarillos market is segmented by product, flavor and regions/countries.
Global Cigar & Cigarillos Market: Overview
A cigar is a rolled bundle of dried and fermented tobacco, while cigarillos are a slimmer version of cigars. Cigars and cigarillos are seen as a symbol of luxury and are often smoked to celebrate special occasions. Furthermore, manufacturers of cigars and cigarillos have better flavors to disguise the harsh taste of tobacco. Smoking has been a popular trend among young adults. A major factor driving the demand for cigars and cigarillos are the tax rates imposed on cigarettes. An evolving strategy used by tobacco companies is to understand a consumer’s perception of cigars & cigarillos and to also ascertain the most liked flavors by customers. In order to attract more customers, tobacco manufacturers have reduced the size of cigars to make them look like cigarettes and have also introduced a host of different flavors.
Global Cigar & Cigarillos Market: Dynamics
The growing popularity of cigar lounges in luxury hotels is a major factor that is contributing to the growth of the global cigar and cigarillos market. The availability of such lounges is fueling the demand for cigar and cigarillos in many countries of the European region.
In addition, the introduction of a variety of flavors in cigar products such as chocolate, vanilla, wine, and tea is expected to further popularize cigarette products, especially among younger consumers. Increasing research & development activities are being conducted by companies to improve the quality of tobacco.
Global Cigar & Cigarillos Market Segment Analysis
By Product: The mass cigar segment is projected to account for the majority revenue share over the foreseeable future. Mass cigar products are processed through machines and are available at lower prices in comparison to premium cigar products. These products are available in a variety of flavors including chocolate, vanilla, and mint. The introduction of such flavors has resulted in an increasing consumer base.
By Flavor: The revenue share of the tobacco/ no flavor segment is anticipated to increase over the next ten years due to the high preference of non-flavored cigar products, especially in the Nordic countries.
Global Cigar & Cigarillos Market Regional Analysis:
The cigars & cigarillos market in North America is projected to continue to account for the majority revenue share due to the increasing demand for high-quality cigars among luxury hotels and bars in the US. According to the Cigar Association of America, 2017 was the biggest import year in nearly two decades with over 330 million sticks being shipped to the US.
The revenue share of the market in Europe is slated to expand at a significant rate over the next 10 years. This can be attributed to the growing popularity of cigars among women with the number of female smokers increasing in the region. In addition, the inclination towards cigars can also be owed to increasing taxes on cigarettes and the concerns of its ill-effects.
The Asia Pacific market is projected to index a high Compounded Annual Growth Rate (CAGR) over the years to come. The market in China is projected to be the majority market revenue contributor in the region. Cigars are commonly used products in China especially during occasions such as parties or ceremonies. Consumers of cigars are increasing over the years due to which the demand for these products is anticipated to grow in the coming years. Cuban cigars are also popular in the region which is another factor fostering market growth in the region.
Global Cigar & Cigarillos Market Segmentation:
- Tobacco/No Flavor
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Trendsettah USA Inc.
- British American Tobacco
- Swisher International Inc.
- Altria Group Inc.
- Drew Estate LLC
- Swedish Match AB
- Imperial Brands
- Oettinger Davidoff AG
- Habanos S.A.
- Scandinavian Tobacco Group A/S.
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