Cigar and Cigarillos Market: Global Industry Analysis and Forecast (2022-2029)

Cigar and Cigarillos Market size was valued at US$ 20.17 Bn. in 2022. Mass Cigar, one of the segments reviewed in MMR reports dominated the Cigar and Cigarillos Market.
Cigar and Cigarillos Market Overview:
Cigars are large rolls of cigarettes, but cigarillos are a slim version of large cigars. It is a bundle of dried and fermented tobacco leaves that are rolled into a cylinder for smoking. Cigars are a symbol of success and luxury. Therefore, cigars and cigars are often smoked to celebrate special occasions. In addition, manufacturers produce better-flavored cigars and cigarillos to mask the taste of tart tobacco.To know about the Research Methodology :- Request Free Sample Report
Cigar and Cigarillos Market Dynamics:
With the introduction of various flavors such as wine, tea, chocolate, and vanilla to hide the spicy taste of tobacco, demand is increasing among young consumers. Flavor products are the most popular variety of premium cigars. These factors are driving the demand for cigars and cigarillos in the market.

Companies in the tobacco products industry are conducting research and development activities to provide better tobacco quality and innovative flavors. Also investing in packaging improvements to improve aesthetics to survive in the market. This factor is driving the market growth of the product.

The cigar is considered a luxury tobacco product purchased by wealthy middle-aged consumers. However, with the production of cheap products and the growing number of young millionaires, Cuban cigar makers are focusing on expanding their reach to the market through strategic collaboration. These strategies are growing cigar demand and growth in the market.

Demand for Cuban cigarettes is expected to increase significantly due to increased brand awareness among the newly wealthy and the growing influence of Western culture among young consumers in the Asia Pacific region is increasing demand for the product.

Strictly promoting tobacco-related products Lack of choice and limited marketing due to government regulation is expected to restrain the market growth.

Market trends and challenges are analyzed and compiled in the report. The data of 2022 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2017 to 2022 with market forecast until 2029.
Cigar and Cigarillos Market Segment Analysis:
By Product, Mass cigars dominated the market in 2022 with an 80% share. Large quantities of mass cigars are mostly preferred by young consumers. Mass-produced products are machine-made and cheaper than products in the premium category. Therefore, young consumers, especially high school students, opt for mass-produced products. Products in the category come in a variety of flavors such as mint, chocolate, menthol, and vanilla, and consumption is increasing. These factors are driving segment growth in the cigar and cigarillo market.

The Premium Cigar segment is expected to grow at a CAGR of 5.4% over the forecast period. Increased demand from luxury hotels and bars is a key driver of demand in this segment. These are handmade and are in high demand from developed countries such as the United States, United Kingdom, and China. The growing popularity of unique tastes and flavors has had a positive impact on demand in this category. These factors are expected to drive the market growth through the forecast period.

By Flavors, Tobacco dominated the market with a 65 % share in 2022. Most consumers prefer traditional tobacco and the main difference is that a cigar is wrapped in a tobacco leaf or a material containing tobacco. Cigars can have up to 100 to 200 milligrams of nicotine. These are the factors driving the market growth of the segment.

The flavored segment is expected to grow at a CAGR of 8 % through the forecast period. The rising popularity of flavored products among young consumers and an increasing number of female consumers with a preference for flavored cigars are the factors expected to drive the market demand for cigars and cigarillos. Flavors such as sweet tobacco products such as Swisher Sweet and White Owl have been market leaders for generations, while flavor products such as Tatiana, Acid, and Java have contributed to increasing demand for flavor products over the last 15 years. These factors are expected to drive the market growth through the forecast period.
Cigar and Cigarillos Market Regional Insights:
North America dominated the market with a 41 % share in 2022. Growing demand for premium cigars from luxury hotels and bars in the U.S. Increasing cigar popularity, the introduction of cigar lounges, etc. Nicaragua led the import market and was the largest exporter of premium cigars for two consecutive years. Increased import from Nicaragua was due to the love for a unique taste of Nicaragua tobacco among U.S. consumers. These factors are driving the market growth of cigars and cigarillos.

Asia Pacific is expected to grow at a CAGR of 4.2 % through the forecast period. The ban of e-cigarettes in the developed states of China, including Beijing, is the major factor responsible for the growth of the cigar market in China. Increasing numbers of cigar clubs in cities including Bengaluru, New Delhi, Kolkata and Mumbai. The demand is attributed to growing brand awareness among the neo-rich coupled with the increased influence of western culture among young consumers. These factors are expected to drive the market growth through the forecast period.

The objective of the report is to present a comprehensive analysis of the Cigar and Cigarillos market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Cigar and Cigarillos market dynamics, structure by analyzing the market segments and projecting the Cigar and Cigarillos market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Cigar and Cigarillos market make the report investor’s guide.
Cigar and Cigarillos Market Scope: Inquire before buying



Cigar and Cigarillos Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 20.17 Bn.


Forecast Period 2023 to 2029 CAGR:
5%
Market Size in 2029:
US $ 28.38 Bn.


 Segments Covered:
by Product
• Mass
• Premium


by Flavors
• Tobacco
• Flavored



Cigar and Cigarillos Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Cigar and Cigarillos Market Key Players
• Gurkha Cigars
• Agio Cigars
• OETTINGER DAVIDOFF AG
• Drew Estate
• Trendsettah USA, Inc.
• Imperial Brands
• Scandinavian Tobacco Group AS
• Altria Group Inc.
• Habanos SA
• Swisher International Inc.
• Swedish Match AB
• Villiger Sohne AG
• Burger Sohne Holding AG
• Arnold Andre GmbH & Company KG
• Holt's Cigar Company Inc.
• China Tobacco

Frequently Asked Questions:

1. Which region has the largest share in Global Cigar and Cigarillos Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Cigar and Cigarillos Market?
Ans: The Global Cigar and Cigarillos Market is growing at a CAGR of 5% during forecasting period 2023-2029.

3. What is scope of the Global Cigar and Cigarillos Market report?
Ans: Global Cigar and Cigarillos Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Cigar and Cigarillos Market?
Ans: The important key players in the Global Cigar and Cigarillos Market are – Gurkha Cigars, Agio Cigars, OETTINGER DAVIDOFF AG, Drew Estate, Trendsettah USA, Inc., Imperial Brands, Scandinavian Tobacco Group AS, Altria Group Inc., Habanos SA, Swisher International Inc., Swedish Match AB, Villiger Sohne AG, Burger Sohne Holding AG, Arnold Andre GmbH & Company KG, Holt's Cigar Company Inc., and China Tobacco

5. What is the study period of this Market?
Ans: The Global Cigar and Cigarillos Market is studied from 2022 to 2029.