Cigars & Cigarillos Market Trend, Share, Growth, Size and Forecast 2030

Cigars & Cigarillos Industry Prospective:

The global Cigars & Cigarillos market size was evaluated at $18 billion in 2022 and is slated to hit $27 billion by the end of 2030 with a CAGR of nearly 7.5% between 2023 and 2030.

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Cigars & Cigarillos Market: Overview

Cigars & Cigarillos are tobacco-based products that are wrapped in tobacco leaf. Furthermore, Cigarsillos, Cigars, and little Cigars are key Cigars types that are available. Furthermore, Cigars use is higher in adults making use of tobacco products. These products are also available in a plethora of flavors such as fruit & candy, mint & menthol, and chocolate. Reportedly, Cigars & Cigarillos are a blend of herbal and botanical infusions.

Key Insights

• As per the analysis shared by our research analyst, the global Cigars & Cigarillos market is projected to expand annually at the annual growth rate of around 7.5% over the forecast timespan (2023-2030)
• In terms of revenue, the global Cigars & Cigarillos market size was evaluated at nearly $18 billion in 2022 and is expected to reach $27 billion by 2030.
• The global Cigars & Cigarillos market is anticipated to grow rapidly over the forecast timeline owing to an increase in luxury restaurants with Cigars lounges.
• In terms of product, the mass Cigars segment is slated to register the highest CAGR over the analysis period.
• Based on flavor, the flavored segment is expected to dominate the segmental growth over the assessment timeline.
• Region-wise, the European Cigars & Cigarillos industry is projected to register the fastest CAGR during the assessment timeline.

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Cigars & Cigarillos Market: Growth Factors

Growing product availability in Cigars lounges will promote the global market trends over 2023-2030

Surge in the luxury restaurants with Cigars lounges has paved the way for humungous growth of the global Cigars & Cigarillos market. Launching of new flavors such as vanilla, tea, and chocolate will steer the expansion of the global market. Apart from this, the surging trend of using premium consumables for exhibiting the symbol of status will generate huge demand for Cigarillos and Cigars, thereby steering the global market surge. With Cigars & Cigarillos manufacturers accounting sizably towards the GDP of any country, the market for Cigars & Cigarillos is projected to expand leaps & bounds in the years ahead. The strategy of mergers & acquisitions adopted by industry players has played a major role in the growth of any business. Moreover, Cigars & Cigarillos business is no exception to this. For instance, in the third quarter of 2019, Scandinavian Tobacco Group acquired Agio Beheer B.V. from Highlands Beheer B.V. The strategic move is likely to expand the product line of Scandinavian Tobacco Group along with contributing majorly towards the profits of Agio.

Cigars & Cigarillos Market: Restraints

Ban on Cigars smoking in the Middle East countries and few APAC nations can hinder the global industry surge by 2030

Ban on Cigars & Cigarillos production in some countries and strict laws governing the sale of these products can put brakes on the global Cigars & Cigarillos industry.

Cigars & Cigarillos Market: Opportunities

Introduction of novel Cigars & Cigarillos filters can create new growth opportunities for the market across the globe

Launching of new Cigars and Cigarillos filters and new flavors will generate new vistas of growth for the Cigars & Cigarillos market across the globe. An increase in the research activities for improving the tobacco quality can further enlarge the scope of the demand for Cigars & Cigarillos across the globe.

Cigars & Cigarillos Market: Challenges

Oscillation in the costs of raw materials can challenge the global industry expansion over forecast period

Fluctuating raw material costs and supply chain disruptions can pose a big challenge for the global Cigars & Cigarillos industry elevation.

Cigars & Cigarillos Market: Segmentation

The global Cigars & Cigarillos market is sectored into product, flavor, and region.

In product terms, the global Cigars & Cigarillos market is segregated into mass Cigars and premium Cigars segments. Furthermore, the mass Cigars segment, which acquired about three-fourths of the global market earnings in 2022, is slated to record the fastest CAGR in the upcoming years. The expansion of the segment in the assessment timeframe can be due to large-scale preference for mass Cigars products as they are cost-effective and manufactured with the help of machines on a large scale resulting in economies of scale for the manufacturers.

Based on the flavor, the global Cigars & Cigarillos industry is sectored into flavored and tobacco/no flavor segments. In addition to this, the flavored segment, which acquired the largest chunk of the global industry share in 2022, is predicted to dominate the global industry size in the next few years. The segmental elevation over the forecasting timeline can be attributed to the rise in the popularity of the flavored products among youth, female, and millennial population across the globe.

Cigars & Cigarillos Market: Report Scope

Cigars & Cigarillos Market: Regional Insights

North America is slated to retain its regional domination over 2023-2030

North America, which contributed about 44% of the global Cigars & Cigarillos market share in 2022, is anticipated to dominate the regional market expansion in the coming eight years. Additionally, the expansion of the market in the sub-continent can be attributed to escalating demand for premium Cigars & Cigarillos products in countries such as Canada and the U.S. Additionally, buyers in these countries have a high spending index as compared to their counterparts in other continents. Apart from this, the growing popularity and use of luxury products will further drive the regional market trends.

The European Cigars & Cigarillos industry is set to register the fastest CAGR in the years ahead subject to a rise in the presence of key players in countries such as the UK, Germany, France, Italy, Spain Portugal, and Norway. High demand for premium Cigars in these countries will further embellish the regional industry expansion in the years to come.

Cigars & Cigarillos Market: Competitive Space

The global Cigars & Cigarillos market profiles key players such as:

• Swedish Match AB
• Agio Cigars
• Altria Group Inc.
• Drew Estate
• Habanos S.A.
• Gurkha Cigars
• Scandinavian Tobacco Group A/S
• Swisher International Inc.
• OETTINGER DAVIDOFF AG
• Trendsettah USA Inc.

The global Cigars & Cigarillos market is segmented as follows:

By Product

• Mass Cigars
• Premium Cigars

By Flavor

• Flavored
• Tobacco/No Flavor

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa