Cigars And Cigarillos Market
Global cigars and cigarillos market is estimated to be valued at USD 31.33 Bn in 2024 and exhibit a CAGR of 3.6% over the forecast period (2024-2031). Cigars is a tightly rolled bundle of dried and fermented tobacco leaves, which are ignited so that its smoke may be drawn into the mouth. It is consumed either by directly inhaling from the lit end placed in the mouth or by transferring smoke into the mouth using the hand. Cigarillos, also known as small cigars, are shorter than regular cigars and contain less tobacco filler. These are rolled in brown tobacco wrapper as opposed to traditional cigars which use fermented tobacco leaves wrapping. Growing popularity of niche tobacco products such as premium and flavored cigars among urban population along with rise of cigars lounges and bars has boosted demand for cigars and cigarillos. However, adverse health impacts of cigars smoking and stringent regulations on advertisement and marketing can hamper the market growth during the forecast period.
Market Dynamics
Global cigars and cigarillos market growth is driven by growth of premium and specialty cigars among young adults and emergence of gifting culture. Growing number of high-net-worth individuals indulging in cigars smoking as a luxury and status symbol can drive the market growth. However, increased taxation policies on cigars and health hazards related to cigars usage such as oral cancers, respiratory illness and heart diseases can hamper the market growth. Growing popularity of small cigars and cigarillos, owing to convenience of usage and flavored varieties can offer new growth opportunities. Introduction of novel products such as filtered cigars, organic cigars can also offer growth opportunities. Rising popularity of alternative smoking devices such as e-cigarettes and heated tobacco products can hamper demand for traditional cigars. Product innovation in terms of flavors, sizes and packaging can offer growth opportunities. For example, premium infused cigarillos are gaining traction among new consumers.
Key features of the study
- This report provides in-depth analysis of the global cigars and cigarillos market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global cigars and cigarillos market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Altria Group Inc., Habanos S.A., Scandinavian Tobacco Group, Grukha Cigars, Swisher International Inc., Agio Cigars, Swedish Match AB, OETTINGER DAVIDOFF AG, Drew Estate, and Imperial Brands PLC
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global cigars and cigarillos market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cigars and cigarillos market
Market Segmentation
Market Segmentation
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