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.
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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.
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