Cigar Market Size – Global Opportunities & Forecast, 2021-2028

Global Cigar Market

The Global Cigar Market is likely to exhibit a compound annual growth rate of 11.54% over the forecast period. The increasing inclination of consumers towards products integrating with the luxuriant lifestyle, accompanied by the rapidly rising exclusiveness of cigars, has stimulated market growth.

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Global Cigar Market Dynamics

The growth in the global cigar market is steered by the rising smoking trend amid youths and the increasing innovation of the latest tobacco products like IQOS and JUUL. The surging demand for cigars with the convenient accessibility of tobacco vendors will bolster the market growth. In addition, the altering lifestyle and beliefs that smoking decreases anxiety and stress will further propel market growth. For example, the report by WHO Organisation states that in countries like Egypt, nearly 31.8% of men smoke produced cigarette/cigar at the same time 6.2% of males smoke sheesha, which exhibits a remarkable consumption which would result in market growth. The rising drift and ongoing product innovation have elevated the Global Cigar Market size. Besides this, the exclusiveness in the cigar category by the brands such as Olivia and Ashton is projected to support the market growth. The rising accessibility of Caribbean cigars and Cuban cigars such as Montecristo, Cohiba, etc., because of the surge of cigar tobacco primarily in these regions has bolstered the market growth. However, the growing agitation towards lung & mouth cancer, ban on smoking in several countries, and heavy-duty/taxes on tobacco products may restrain the Global Cigar Market growth.

Product Segment Drivers

Based on the product, the mass cigar segment is anticipated to expand at the highest rate in the global cigar market over the analysis period. This is because of the increasing accessibility among middle- & lower-income groups & the benefit of cigarette bans. However, as per the Global Cigar Market research, exclusive cigarettes have lower consumption in the cigar market, but in terms of margin & revenues, it is much more than mass cigars as they are very costly.

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