Cigars are large rolls of tobacco, while cigarillos are a slimmer version of large cigars. Cigars have been seen as a symbol of success and luxury. Hence, cigars and cigarillos are often smoked to celebrate special occasions. Moreover, manufacturers are cigars and cigarillos with better flavors to hide the harsh taste of tobacco. The smoking trend has also become popular among young adults. One of the major factors driving the demand for cigars and cigarillos is the tax rate. One of the evolving strategies used by tobacco companies is to find out consumer perception on cigars and cigarillos and also to find out the most liked flavors by the customers. In order to attract more customers, tobacco manufacturers reduced the size of cigars to make it look like a cigarette and also introduced different flavors.
The market for cigars and cigarillos is also witnessing a substantial growth as the increasing number of luxury hotels have cigar lounges and is becoming a part of the hospitality industry. Tobacco companies are introducing new flavors to market their products like fruit, mint, chocolate, etc. Moreover, cigar manufacturers are also targeting young males with flavored cigars. Along with North America and Europe, Asia Pacific is also becoming the fastest growing region in the global cigars & cigarillos market. Owing to the adoption of western lifestyle, and laxity in adopting anti-smoking regulations, cigars and cigarillos are becoming popular in various countries in Asia Pacific.
According to the report by Persistence Market Research, the global cigars & cigarillos market is likely to witness slow growth throughout 2017-2025. Towards the end of 2025, the global cigars & cigarillos market is projected to reach US$ 23,857.9 Million revenue.
Mass Cigars to be Most Preferred by Consumers in the Global Cigars & Cigarillos Market
Compared to the premium cigars, mass cigars are likely to be most preferred by the consumers between 2017 and 2025. Premium cigars are mostly handmade and are exclusive. However, the price of the premium cigar is more as compared to the mass cigar, hence, increasing number of consumers opt for mass cigar due to its affordability. Moreover, mass cigars are machine-made, hence they are low priced than premium cigars. However, cigar smokers have their own unique taste, hence, they opt for handmade premium cigars. Although the cost of the machine made cigar may attract smokers, but occasional cigar smokers mostly prefer premium handmade cigars. Hence, premium cigars are majorly provided in special shops and luxury hotels.
Variety of Flavors to be Offered by Cigars and Cigarillos Manufacturers
Various flavors are provided by cigars and cigarillos manufacturers. Among these flavors, fruit and mint flavors are consumed by cigar smokers. With a diverse variety of flavors and different conditions where tobacco is grown, cigar tasting, similar to wine, and beer tasting is gaining popularity. Moreover, cigar flavors including spicy, salty, woody, peppery, cocoa, and sweet are also being consumed on a large scale. However, strict regulations in some countries and ban on various marketing methods for tobacco products are restricting the growth of the global market for cigars & cigarillos. Meanwhile, cigar manufacturers are also conducting research and development activities to offer a better product with new flavors in order to compete in the market.
The report by Persistence Market Research offers in-depth analysis on the global cigars & cigarillos market for the forecast period from 2017 to 2025. The main objective of this report is to offer key insights and information on all the important factors and opportunities in the global market for cigars & cigarillos.
The report begins with an executive summary that includes an overview of the market, region-wise, and segment-wise analysis. In-depth details on the global cigars and cigarillos market are provided that includes key trends, driving factors, growth opportunities, and challenges in the global cigars and cigarillos market. Key factors fueling the growth of the market based on the weighted average model is provided in the global market for cigars & cigarillos. Various research methods have been used to develop the report.
The market has also been divided into various segments including type, category, flavor, size, gender, and region. The segments also include sub-segments and regions are further divided into countries. The numbers on the segment are provided in the form of basis point share. Meanwhile, revenue generated, year-on-year growth, along with CAGR is also included in the report.
Another section in the global market for cigars and cigarillos offers the information on all the drivers and trends in the market for the forecast period 2017-2025. The report also offers in-depth analysis of all the challenges in the global cigars & cigarillos market. On the basis of region, the market segments include Europe, Latin America, the Middle East and Africa, North America, and Asia Pacific (APAC).
The section offering information on all the key companies in the global market for cigars and cigarillos is also included in the report. The companies in the report are evaluated based on the financial and business overview, latest developments, product portfolio, and trends. The report also provides details on the long-term and short-term strategies by companies in order to compete in the market.
To report also includes details on the expected revenue and revenue generated in the market during the forecast period 2017-2025. The market size is also included in the report in order to help the client understand how the market is expected to perform in the near future. The supply side and demand side and details on all the macro and micro-economic factors are included in the report. The report offers estimated numbers in form of revenue and CAGR to help in understanding the future of the market and also to identify growth opportunities in the global cigars & cigarillos market.
The information provided in the report sheds light on the latest trends in the market. To provide a clear picture of the market the report includes SWOT analysis, Porter’s five force analysis, and market attractiveness analysis. Market attractiveness index is also included to help in identifying opportunities and important resources in terms of sales in the global market for cigars & cigarillos.
Key players in the cigars & cigarillos market that are covered in the report include: