Cigars Market To Grow With Rising Urbanization During the Forecast Period
Changing lifestyle is driving the growth in Global Cigars Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Cigars Market By Product (Mass Cigar, Premium Cigar), By Flavor (Non-Flavored, Flavored), By Composition (Wrappers, Fillers, Binders), By Distribution Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2026”, the global cigars market is expected to experience a substantial growth in its CAGR in the forecast period, 2022-2026. The market is expected to register a robust growth on account of increasing number of luxury hotels with cigar lounges. Moreover, the market is also expected to grow on the account of various other attributes like improving economic scenarios of the developed countries like United States, where public smoking is banned, hence contributing to the rapid growth of smoking lounges. Also, affordable options of tobacco products are not available in the United States market therefore, there is a inclination of the consumers towards conventional cigars, thus supporting the growth of the global cigars market. Furthermore, consumers recently rapidly shifted to consumption of cigars over cigarettes due to the potential risk to the health if contracted with COVID-19 virus. Due to the COVID-19 pandemic, consumers are unable to deviate their minds in other things, ultimately leading to spending more money and time on their smoking habits. Also, increased consumer inclination towards products complimenting the opulent lifestyles parallel to the rapid growing premiumization of cigars is expected to strengthen the global cigars market in the future five years.
Although, government regulation against the tobacco and tobacco related products is expected to hinder the growth of the market in the future five years. The United States Food & Drug Administration (FDA) requires premium cigar manufacturers and distributors to label their products with mandatory warning statements, similar to the phrases already required on cigarette and tobacco packaging. These warnings are a must to be included in any advertisements and/or marketing for premium cigars, creating awareness among the population regarding harmful effects of smoking.
Cigars are large rolls of tobacco, that are functional in somewhat similar fashion of a cigarette. They are often seen as the status and style symbol to demonstrate success and luxury. The illusion is often influenced by the media and entertainment sector glorifying cigar smoking. Smoking is already a trend among the young adults and the imagery of cigar being associated with class and status, the trend is highly influential to wider range of consumers thereby driving the growth of the market.
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The global cigars market is segmented by product, flavor, composition, distribution channel, competitive landscape, and regional distribution. Based on flavor, the market is further bifurcated into non-flavored and flavored cigars. Non-flavored cigars are the conventional cigars with only tobacco content and has a very harsh smell and taste of tobacco. Flavored tobacco is much more preferred among the young adults and new consumers for the varied taste and appeasing smell, comparatively. Thus, non-flavored cigars are expected to benefit from the above mentioned drivers and is thus anticipated to hold the larger share of the market in future five years.
Based on composition, the market is further categorized into wrappers, fillers, binders. A typical cigar is made of the fillers that are binded with binder leaf that holds the filler leaves together and is covered with the layer of wrapper leaves. Wrapper leaves are often of the best quality. They also carry a label or imprinted tag of manufacturer name and logo and sometimes the year of production if they are limited edition. Based on distribution channel, the market is further divided between online and offline. Online sales are expected to grow with a fastest CAGR growth due to consumers’ growing preference for online shopping. Moreover, due to widespread COVID-19 virus the world experienced a complete lockdown and since the offline resources were shut down, online distribution surged throughout the world for various products.
Holding large shares of the market are some of the market players, a partial list of these is presented here, Imperial Brands, Scandinavian Tobacco Group AS, Altria Group Inc., Habanos SA, Swisher International Inc., Swedish Match AB, Villiger Sohne AG, Burger Sohne Holding AG (Danneman), Arnold Andre GmbH & Company KG, Holt’s Cigar Company Inc., among others. Advancing and flavorful products are potential areas for the development of the cigars for the market players. Other strategies may include partnerships among the market players and the distributors.
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“Asia-Pacific is the most promising region for the market growth in the future due to the surge in demand from the countries like India and China. The consumption of conventional cigars is higher in the region due to affordable tax rates on the mass cigars as compared to the premium cigars. Moreover, e-cigarettes are banned in China which has attracted the consumers towards the consumption of cigars. Asia – Pacific region can be turned into the exponential growing market in the next five years if the new market players invest in the trends set in the developing countries like India and China,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Cigars Market By Product (Mass Cigar, Premium Cigar), By Flavor (Non-Flavored, Flavored), By Composition (Wrappers, Fillers, Binders), By Distribution Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global cigars market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global cigars market.
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