Rockville, April 11, 2024 (GLOBE NEWSWIRE) -- Cigars, often associated with luxury and leisure, are experiencing a resurgence in popularity among certain demographics. Companies can expect seated increase in sales, with the global Cigar and Cigarillo Market expected to grow from a size of US$ 23.5 billion in 2024 to US$ 37.9 billion by the end of 2034.
Related Market Projections for 2034
| Luxury Cigar Market | US$ 9.9 Billion |
| Cigarette Paper Market | US$ 1.7 Billion |
The feeling of sophistication and relaxation is associated with smoking cigars. Meanwhile, cigarillos, which are smaller and often flavored, are appealing to a broader audience, including younger consumers seeking a milder smoking experience.
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However, the market is facing challenges due to increasing health consciousness and regulatory measures aimed at curbing tobacco use. Health concerns and smoking bans in public spaces are prompting shifts in consumption patterns and product innovation. Some manufacturers focus on premium, handmade cigars, while others are exploring alternatives such as electronic cigars.
Key Segments of Cigar and Cigarillo Market Research Report
| By Product | By Price Range | By Flavor | By Sales Channel | By Region |
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Key Takeaways from Market Study
- The global cigar and cigarillo market is projected to reach US$ 37.9 billion by 2023-end.
- From 2024 to 2034, the market has been forecasted to expand at a CAGR of 4.9%.
- The North American market is expected to expand at a CAGR of 5.1% from 2024 to 2034.
- Worldwide sales of cigarillos are calculated at US$ 9.5 billion for 2024.
- East Asia is estimated to account for 23.1% of global revenue share in 2024.
- By price range, mass cigars and cigarillos collectively hold 75% market share in 2024.
“Sales of cigars and cigarillos are being pushed by a shift in rising preferences toward luxury and milder smoking experiences. Despite regulatory pressures and availability of alternatives, demand for cigars and cigarillos remains robust,” says a Fact.MR analyst.
Market Benefiting from Growing International Trade and Globalization
Growing international trade and globalization are fueling the cigar and cigarillo market growth by facilitating cross-border product exchange and broadening market accessibility. Globalization provides manufacturers and distributors with new avenues to connect with consumers in various regions, effectively reaching emerging markets and capitalizing on international demand. International trade agreements and partnerships are pivotal in reducing entry barriers, ensuring seamless distribution channels, and increasing the global availability of cigar and cigarillo products.
Globalization promotes cultural interchange, exposing consumers to diverse cigar varieties, flavors, and smoking customs worldwide. This exposure not only widens consumer preferences but also sparks innovation within the industry, resulting in a vibrant and dynamic market characterized by diversity and ample opportunities.
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| Report Attribute | Details |
| Value Projection (2034) | US$ 37.9 Billion |
| Growth Rate (2024-2034) | 4.9% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the cigar and cigarillo market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (cigars, cigarillos, little cigars), price range (premium, mass), flavor (fruit/ candy, mint/ menthol, chocolate), and sales channel (direct sales, cigar specialty stores, hypermarkets/ supermarkets, online retailers), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Cigarette Paper Market: The global cigarette paper market is forecasted to rise from a valuation of US$ 1.36 billion in 2023 to US$ 1.67 billion by 2033. Fact.MR predicts worldwide cigarette paper consumption to rise at a CAGR of 2.1% from 2023 to 2033.
Luxury Cigars Market: The global luxury cigars market is estimated at US$ 4.7 billion in 2023 and is forecast to reach US$ 9.7 billion by 2033, growing briskly at a CAGR of 7.3% from 2023 to 2033.
Folded Tissues Market: The global folded tissues market is forecast to expand at a CAGR of ~3% over the forecast period (2020-2030). Folded tissues held more than 35% of the overall spending on global health and hygiene products. A consistent growth trajectory is predicted for folded tissue products across emerging markets.
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