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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.