New York, NY -- (SBWIRE) -- 11/15/2017 -- According to a report by Persistence Market Research (PMR), sales of cigars and cigarillos in Europe surpassed 9000 Mn units in 2015. This number is expected to reach around 11000 Mn by 2024-end. Growth will be sluggish with PMR projecting a 2.1% CAGR in terms of volume through 2024. Availability of several affordable alternative tobacco products is negative influencing demand for cigars and cigarillos. Efforts such as government mandate to include statutory warning on tobacco packaging and youth outreach programmes are creating awareness among smokers. This, along with 'Quit Smoking' campaigns is expected to reduce the number of smokers, thereby influencing the market.
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No-Flavour/Tobacco Cigars and Cigarillos Remain Sought-after Among Smokers
The market share of cigars and cigarillos with no-flavour/tobacco is anticipated to register a slight increase to reach 77% by 2024 from 76.7% in 2016. No-flavour/tobacco cigars and cigarillos would remain the most preferred in the market during the forecast period. In contrast, flavoured cigars and cigarillos including fruit & candy, mint & menthol, and chocolate & vanilla are projected to exhibit a slight decline in their market share by 2024-end.
EU5, the largest market for cigars and cigarillos, is projected to witness a slight decline in its revenue share by 2024-end. (Revenue share in 2016 and revenue share in 2024). (Eastern Europe is the second largest region for…) Benelux's market share will witness a sligh increase… In addition, the cigar and cigarillos market in Germany and France is projected to register 2.5% and 1.9% CAGRs respectively.
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Trends Observed in the Europe Cigars and Cigarillos Market
Expansion of product portfolio remains a key market strategy for manufacturers. Mergers & acquisitions and new product launches remain a key component of market consolidation.
Targeting both online as well as offline retailers, manufacturers are focusing on expansion of distribution networks, thereby offering easy availability of products to customers.
According to the WHO, demand for cigars and cigarillos is gaining traction among females in Europe.
Key companies profiled by Persistence Market Research in its report include Imperial Brands Plc, British American Tobacco PLC, Japan Tobacco, Inc., Swisher International Inc., Swedish Match AB, Altria Group, Inc.