Cigars and Cigarillos Market, By Product (Mass Cigars and Premium Cigars), By Flavor (Tobacco / No Flavor and Flavored), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Nov 2024

Code : CMI3334

Pages :120

Formats :

Excel and PDF

Industry : Consumer Goods

Key Takeaways from Analyst

The cigars and cigarillos sector faces strong growth opportunities globally over the next five years. Latin America presents the largest potential, with countries like Brazil emerging as dominant consumers. Meanwhile, Asia Pacific is expected to see the fastest gains led by developing nations.

Key drivers include rising discretionary spending power in emerging economies and social acceptability of cigars smoking in nightlife and social settings. Premium hand-rolled cigars are gaining popularity among young urban professionals as a luxury indulgence. Advertising and branding play a big role in shaping new demand.

However, stringent regulations pose a restraint. Tax hikes and anti-tobacco policies in Europe and North America aim to curb usage. This may divert cross-border trade towards less regulated regions. Nonetheless, the affordable mass segment remains relatively protected being consumed primarily by older audiences.