Global Cigar Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2023
Global Cigar Market was valued at over USD 1464.1 Mn in 2023 and the market will grow to USD 3452.3 mn and is projected to register а САGR approximately to 10.00% by 2033.
“Global Cigar Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2033” is a recent report generated by MarketResearch.biz. The global cigar market report has been segmented on the basis of sensor type, size, distribution Channel, and region.
Global Cigar Market: Overview
Cigar contains dried and fermented tobacco leaves that are rolled into a bundle which is meant for smoking. Cigars can be differentiated on the basis of its looks and taste. It consists of three parts namely filler, wrapper, and binder. Filler is essential part of cigar that contains different parts of tobacco plant including bottom leaves also known as volado, middle leaves also known as seco, and top leaves also called as ligero in Spanish. Whole leaves are folded with their length for helping with the air flow in cigars. Wrapper of cigars is made up of darker leaves of tobacco and commonly aged six months before using. Binder is used for binding inner bundles of filler leaves before the final wrapping. It gives shape and size to the cigar and maintains its structural integrity. On the basis of sized cigars are differentiated into cigarillo, rothschild, robusto, corona, churchill, etc.
Global Cigar Market: Dynamics
Cigar contains less amount of nicotine than cigarettes. Increasing smoking for recreational purposes and celebratory events such as parties, festivals, etc., is a factor driving the growth of the global cigar market. The growing demand for flavored cigars with high-quality tobacco among individuals is another factor fueling the growth of the target market. Furthermore, increasing research and development activities for improvement in the taste and flavors of cigars is a factor expected to boost the growth of the global cigar market in the near future.
However, cigar contains tobacco and nicotine that can cause harmful effects such as addiction, heart disease, cancer, teeth loss, and exposure to other toxic chemicals are some of the major factors that may hamper the growth of the global cigar market. Nevertheless, the introduction of cost-effective cigars in different flavors can create high revenue opportunities for players in the target market.
Global Cigar Market: Segment Analysis
Among the type segments, the mass cigars segment is expected to register high growth in terms of revenue over the forecast period. Mass cigars are machine-made and cost lower than premium cigars a factor supporting the growth of this segment in the global market. Premium cigars are commonly handmade and preferred by occasional smokers.
Among the distribution Channel segments, the online segment is expected to register lucrative growth in terms of revenue. The availability of wide various types of cigars and the increasing trend of online shopping are anticipated to fuel the growth of this segment in the target market.
Global Cigar Market: Regional Analysis
US, Spain, Italy, the Philippines, and countries in Latin America produce high-quality cigars. The market in North America is expected to register average growth in terms of revenue over the forecast period. Increasing demand for premium cigars among end users is a factor supporting the growth of the target market in this region. However, Food and migraine Drug Administration regulations for labeling the products with warnings, and various other regulations for retailers selling tobacco products are factors that could affect its growth in the US. The market in Asia Pacific is expected to register high growth in terms of revenue in the near future.
Global Cigar Market Segmentation:
Segmentation by Type:
- Mass Cigars
- Premium Cigars
- Flavored Cigars
- Others (Natural Leaf Cigars, Sweet Cigars, etc.)
Segmentation by Types Based on Size:
- Petit Corona
- Double Corona
Segmentation by Distribution Channel:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size USD 1464.1 Mn Growth Rate 10.00% Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- ITC Limited
- Finck Cigar Company
- General Cigar Co., Inc.
- Altadis S.A.
- Perdomo Cigars
- Partagas cigars
- Oliva Cigar Co.
- Paul Stulac Cigars
- Rodrigo Cigars
- Rocky Patel Cigars
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