Cigars Market To Grow With Rising Urbanization During the Forecast Period
Changing lifestyle is driving the
growth in Global Cigars Market in the forecast period, 2022-2026.
According
to TechSci Research report, “Global Cigars Market By Product (Mass Cigar,
Premium Cigar), By Flavor (Non-Flavored, Flavored), By Composition (Wrappers,
Fillers, Binders), By Distribution Channel (Online, Offline), By Region,
Competition Forecast & Opportunities, 2026”,
the global cigars market is expected to experience a substantial growth in its
CAGR in the forecast period, 2022-2026. The market is expected to register a
robust growth on account of increasing number of luxury hotels with cigar
lounges. Moreover, the market is also expected to grow on the account of
various other attributes like improving economic scenarios of the developed
countries like United States, where public smoking is banned, hence
contributing to the rapid growth of smoking lounges. Also, affordable options
of tobacco products are not available in the United States market therefore,
there is a inclination of the consumers towards conventional cigars, thus
supporting the growth of the global cigars market. Furthermore, consumers
recently rapidly shifted to consumption of cigars over cigarettes due to the
potential risk to the health if contracted with COVID-19 virus. Due to the
COVID-19 pandemic, consumers are unable to deviate their minds in other things,
ultimately leading to spending more money and time on their smoking habits.
Also, increased consumer inclination towards products complimenting the opulent
lifestyles parallel to the rapid growing premiumization of cigars is expected
to strengthen the global cigars market in the future five years.
Although,
government regulation against the tobacco and tobacco related products is
expected to hinder the growth of the market in the future five years. The
United States Food & Drug Administration (FDA) requires premium cigar
manufacturers and distributors to label their products with mandatory warning
statements, similar to the phrases already required on cigarette and tobacco
packaging. These warnings are a must to be included in any advertisements
and/or marketing for premium cigars, creating awareness among the population regarding
harmful effects of smoking.
Cigars
are large rolls of tobacco, that are functional in somewhat similar fashion of
a cigarette. They are often seen as the status and style symbol to demonstrate
success and luxury. The illusion is often influenced by the media and
entertainment sector glorifying cigar smoking. Smoking is already a trend among
the young adults and the imagery of cigar being associated with class and
status, the trend is highly influential to wider range of consumers thereby
driving the growth of the market.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on " Global Cigars Market"
https://www.techsciresearch.com/report/cigars-market/7509.html
The
global cigars market is segmented by product, flavor, composition, distribution
channel, competitive landscape, and regional distribution. Based on flavor, the
market is further bifurcated into non-flavored and flavored cigars.
Non-flavored cigars are the conventional cigars with only tobacco content and
has a very harsh smell and taste of tobacco. Flavored tobacco is much more
preferred among the young adults and new consumers for the varied taste and
appeasing smell, comparatively. Thus, non-flavored cigars are expected to
benefit from the above mentioned drivers and is thus anticipated to hold the
larger share of the market in future five years.
Based
on composition, the market is further categorized into wrappers, fillers,
binders. A typical cigar is made of the fillers that are binded with binder
leaf that holds the filler leaves together and is covered with the layer of
wrapper leaves. Wrapper leaves are often of the best quality. They also carry a
label or imprinted tag of manufacturer name and logo and sometimes the year of
production if they are limited edition. Based on distribution channel, the
market is further divided between online and offline. Online sales are expected
to grow with a fastest CAGR growth due to consumers’ growing preference for
online shopping. Moreover, due to widespread COVID-19 virus the world
experienced a complete lockdown and since the offline resources were shut down,
online distribution surged throughout the world for various products.
Holding large shares of the market are some of the
market players, a partial list of these is presented here, Imperial Brands, Scandinavian
Tobacco Group AS, Altria Group Inc., Habanos SA, Swisher International Inc., Swedish
Match AB, Villiger Sohne AG, Burger Sohne Holding AG (Danneman), Arnold Andre
GmbH & Company KG, Holt's Cigar Company Inc., among others. Advancing and
flavorful products are potential areas for the development of the cigars for
the market players. Other strategies may include partnerships among the market
players and the distributors.
Download Sample
Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7509
Customers can also request for 10% free
customization on this report.
“Asia-Pacific is the most promising
region for the market growth in the future due to the surge in demand from the
countries like India and China. The consumption of conventional cigars is
higher in the region due to affordable tax rates on the mass cigars as compared
to the premium cigars. Moreover, e-cigarettes are banned in China which has
attracted the consumers towards the consumption of cigars. Asia – Pacific
region can be turned into the exponential growing market in the next five years
if the new market players invest in the trends set in the developing countries
like India and China,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based Global management consulting firm.
“Global Cigars Market By
Product (Mass Cigar, Premium Cigar), By Flavor (Non-Flavored, Flavored), By
Composition (Wrappers, Fillers, Binders), By Distribution Channel (Online,
Offline), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future
growth potential of global cigars market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
global cigars market.
Contact
Mr. Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]
Web: https://www.techsciresearch.com/