Global Cigars & Cigarillos Market: Overview
The market for cigars and cigarillos is gaining traction due to increasing demand among young adults. Additionally, availability of various flavors in cigars and cigarillos is attracting consumers to buy these products. The trend is particularly gathering steam among women. This is expected to fuel demand for cigars and cigarillos in the near future.
Cigars and cigarillos are a firmly rolled bundle of fermented and dried tobacco leaves. These are rolled in varying lengths, sizes, and thicknesses. Cigars are ignited at the end so that the smoke may be drawn into the mouth. The global cigars and cigarillos market is expected to exhibit slow yet steady growth in terms of revenue between 2016 and 2024. However, volume growth is expected to be robust.
The report presents a comprehensive overview of the global cigars and cigarillos market. Various factors influencing the demand and supply trends in the market are studied in detail. The report also covers the expected performance of the market in terms of revenue and volume during the forecast period. Based on in-depth information obtained from trusted industrial sources, the study projects the threats and opportunities that the companies operating in the market could face during the forecast period.
Global Cigars & Cigarillos Market: Key Opportunities and Threats
Based on product type, the global cigars and cigarillos market has been be bifurcated into premium and mass. The mass segment dominated the market in 2014. The trend is likely to continue during the forecast period. The premium segment is also anticipated to witness robust growth due to increasing demand in countries such as the U.S., the UAE, and China.
Based on category, cigarillos was the larger segment of the market in terms of volume. Availability of various types of cigarillos at relatively low prices is a key factor fueling the growth of the segment. The cigars segment is projected to gain impetus during the forecast period, as consumers are inclined more toward large-sized tobacco products.
In terms of flavor, the mint and menthol segment is witnessing the highest demand in the market. However, the fruits and candy segment is expected to witness substantially growth in the near future. Increasing number of women consumers of cigars and cigarillos is likely to contribute to the growth of the fruits and candy segment.
Based on end-use, the male consumers segment dominated the market in 2014. The segment is expected to continue its dominance in the market during the forecast period. Demand in the female segment is also poised to surge exponentially in the next few years.
Global Cigars & Cigarillos Market: Regional Outlook
Regionally, North America held the largest share of the market in 2014. Rising demand in the U.S. is expected to present favorable growth opportunities in the cigars and cigarillos market in North America. The market in Asia Pacific is also expected to witness significant growth. In the near future, Europe and Asia Pacific are likely to emerge as two of the fastest growing markets. Growth of the cigars and cigarillos market in Asia Pacific is driven by the increasing demand in China.
Global Cigars & Cigarillos Market: Vendor Landscape
In order to study the prevailing competitiveness in the market, the report profiles enterprises such as British American Tobacco, Tobacco Group A/S, and Habanos S.A. These companies are studied based on their product portfolio, marketing strategies, and financial overview.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.