The global Luxury Cigar market size is expected to be worth around US$ 25.25 billion by 2030, according to a new report by Vision Research Reports.
The global Luxury Cigar market size was valued at US$ 12.60 billion in 2020 and is anticipated to grow at a CAGR of 8.2% during forecast period 2021 to 2030.
|Market Size||US$ 25.25 billion by 2030|
|Growth Rate||CAGR of 8.2% From 2021 to 2030|
|Largest Market||North America|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Fuente Marketing Ltd.; General Cigar; Regius Cigars Ltd.; Gurkha Cigar Group; Gran Habano Cigars; Mayan Import; The Villiger Group; Altadis; Rocky Patel Premium Cigars; Swisher|
Rising consumption of tobacco across the globe is anticipated to drive the luxury cigar industry. The growing demand for high-quality smooth flavor cigars, such as Arturo Fuente Don Carlos, Mayan Sicars, El Gigante by Gran Habano, and Gurkha Black Dragon, is likely to fuel the overall demand.
The hand rolled type segment held the largest revenue share in 2020 and is expected to maintain its lead over the forecast period. Premium cigar smokers prefer smooth tobacco taste over mixed flavors. Fillers and wrappers of hand rolled cigars are made of pure tobacco and handmade products, instead of paper, preservatives, and chemicals, which offers the smoker a smoother tobacco flavor.
By Type Analysis
The hand rolled segment held the largest revenue share of over 75.0% in 2020 and is expected to maintain its lead over the forecast period. Hand rolled cigars have better popularity among premium smokers than machine rolled cigars owing to their comparatively higher quality.
There has been a rise in consumer preference for smoother taste experience from cigars, coupled with the willingness to pay a higher price, which, in turn, is increasing the production and imports of cigars.
The machine rolled segment is projected to register a CAGR of 7.3% from 2021 to 2030. Machine rolled luxury cigars are preferred by consumers who are willing to pay a comparatively low premium price for a luxury smoking experience.
By Distribution Channel Analysis
The offline distribution channel held the largest revenue share of over 75.0% in 2020. The gradual lifting of lockdown restrictions throughout the globe is leading to the re-opening of smoke shops, hypermarkets, and stores offering luxury cigars.
Online platforms offer significant advantages to consumers, such as freedom of selection, hand rolled and machine rolled cigar prices, and high visibility of international brands, which makes them a suitable platform for all types of customers.
By Regional Analysis
North America held the largest revenue share of over 30.0% in 2020. Consumers in North American countries such as the U.S. and Canada are willing to pay a high price for unconventional premium cigars.
Asia Pacific is expected to register the fastest CAGR of 10.0% from 2021 to 2030. The expansion of the tobacco industry in India and China, both of which are backed by regulatory support, is expected to ensure continuous production of luxury cigars and thus, be a positive factor for the market growth in Asia Pacific over the forecast period.
Fuente Marketing Ltd.
Regius Cigars Ltd.
Gurkha Cigar Group
Gran Habano Cigars
The Villiger Group
Rocky Patel Premium Cigars
By Distribution Channel
Central & South America
Middle East & Africa
The Luxury Cigar market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Luxury Cigar market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Luxury Cigar market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Luxury Cigar market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Luxury Cigar market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Luxury Cigar capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Luxury Cigar by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Luxury Cigar market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Luxury Cigar market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Luxury Cigar market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Luxury Cigar industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Luxury Cigar market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Luxury Cigar market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Luxury Cigar market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Luxury Cigar market. These factors have benefited the growth of the global market for Luxury Cigar. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Luxury Cigar. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Luxury Cigar are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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