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.
Request for a FREE Sample Report on Cigar Market
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.
About GMI Research
GMI Research is a market research and consulting firm which
provides market insights and intelligence across 12 major sectors helping our
clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website:
www.gmiresearch.com
For More Info:
Comments
Post a Comment