As per the report by Persistence Market Research, the global cigars & cigarillos market is expected to witness slow growth during 2017-2025. By the end of 2025, the global market for cigars & cigarillos is also estimated to exceed US$ 23,000 Million revenue.
Fermented and dried tobacco leaves are tightly rolled to form cigars and cigarillos. Both cigars and cigarillos come in various size, length, and thickness. In recent years, cigars and cigarillos have gained more popularity among young adults. Owing to the increasing popularity and part of the status symbol, manufacturers are offering cigars and cigarillos in various flavors. Moreover, in some countries, the tax on cigars and cigarillos is low, this is likely to drive the demand for cigars and cigarillos. Various types of cigarillos are present in the market with the difference in the quality. Many major companies are offering cigarillos in a small size as a quick alternative to smoking for consumers. Cigars and cigarillos made in machines are affordable, hence, consumed on a large scale by customers.
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Manufacturers are also offering cigars and cigarillos infused with various liquor, desserts, and berry essences. People are also consuming cigars that are small in size but have better taste, hence, companies are investing in the research and development of new flavors and can also differentiate their brands from others. Manufacturers are also focusing on pricing strategies to make it affordable and increase consumption of tobacco products. However, stringent regulation by the government on advertising tobacco products and various restraints are hampering the growth of the global market for cigars & cigarillos.
Cigarillo to Witness Significant Growth in the Global Cigars & Cigarillos Market
Based on the Category, cigarillo is likely to witness the highest growth during 2017-2025. Towards the end of the forecast period, cigarillo is projected to reach close to US$ 19,000 Million in terms of revenue.
On the basis of the type of cigars & cigarillos, mass cigars and cigarillos are expected to be most preferred during 2017-2025. Mass type of cigars and cigarillos are also estimated to surpass US$ 22,000 Million revenue by 2025 end.
In terms of flavor, fruit/candy flavor is anticipated to be highly preferred in the global cigars & cigarillos market. Fruit/candy flavor is also projected to bring in more than US$ 9,000 Million revenue by the end of 2025.
Based on the size, 5.01 to 6 inch of cigars & cigarillos are likely to account for the highest sales in the global cigars & cigarillos market. By the end of 2025, 5.01 to 6 inch of size is estimated to surpass US$ 10,000 Million in terms of value.
On the basis of gender, compared to female, male are likely to consume cigars & cigarillos on a large scale during the forecast period. Towards, 2025 end, consumption of cigars & cigarillos by male is estimated to bring in more than 20,000 Million revenue.
North America to Rule the Global Cigars & Cigarillos Market
Geographically, North America is expected to lead the global market for cigars & cigarillos during 2017-2025. By 2025 end, North America is projected to bring in more than US$ 9,000 Million revenue. Rising penetration of cigar parlors in North America is driving the demand for cigars and cigarillos. Moreover, Food and Drug Administration (FDA) has also provided guidelines related to health warning statement and no manufacturers will be allowed to sell cigars in the U.S. without the warning statement as given by FDA.
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Leading Companies in the Global Market for Cigars & Cigarillos
Some of the major players in the global market for cigars & cigarillos are Scandinavian Tobacco Group A/S, Imperial Brands, Plc., Habanos S.A., British American Tobacco, Swisher International, Inc., Altadis S.A., Swedish Match AB, Drew Estate LLC, Trendsettah USA, Inc., and Oettinger Davidoff AG.