Cigars & Cigarillos Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 06/30/2017 -- Global Cigars & Cigarillos Market: Overview
The market for cigars and cigarillos is gaining traction due to increasing demand among young adults. Additionally, availability of various flavors in cigars and cigarillos is attracting consumers to buy these products. The trend is particularly gathering steam among women. This is expected to fuel demand for cigars and cigarillos in the near future.
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Cigars and cigarillos are a firmly rolled bundle of fermented and dried tobacco leaves. These are rolled in varying lengths, sizes, and thicknesses. Cigars are ignited at the end so that the smoke may be drawn into the mouth. The global cigars and cigarillos market is expected to exhibit slow yet steady growth in terms of revenue between 2016 and 2024. However, volume growth is expected to be robust.
The report presents a comprehensive overview of the global cigars and cigarillos market. Various factors influencing the demand and supply trends in the market are studied in detail. The report also covers the expected performance of the market in terms of revenue and volume during the forecast period. Based on in-depth information obtained from trusted industrial sources, the study projects the threats and opportunities that the companies operating in the market could face during the forecast period.
Global Cigars & Cigarillos Market: Key Opportunities and Threats
Based on product type, the global cigars and cigarillos market has been be bifurcated into premium and mass. The mass segment dominated the market in 2014. The trend is likely to continue during the forecast period. The premium segment is also anticipated to witness robust growth due to increasing demand in countries such as the U.S., the UAE, and China.
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Based on category, cigarillos was the larger segment of the market in terms of volume. Availability of various types of cigarillos at relatively low prices is a key factor fueling the growth of the segment. The cigars segment is projected to gain impetus during the forecast period, as consumers are inclined more toward large-sized tobacco products.
In terms of flavor, the mint and menthol segment is witnessing the highest demand in the market. However, the fruits and candy segment is expected to witness substantially growth in the near future. Increasing number of women consumers of cigars and cigarillos is likely to contribute to the growth of the fruits and candy segment.
Based on end-use, the male consumers segment dominated the market in 2014. The segment is expected to continue its dominance in the market during the forecast period. Demand in the female segment is also poised to surge exponentially in the next few years.
Global Cigars & Cigarillos Market: Regional Outlook
Regionally, North America held the largest share of the market in 2014. Rising demand in the U.S. is expected to present favorable growth opportunities in the cigars and cigarillos market in North America. The market in Asia Pacific is also expected to witness significant growth. In the near future, Europe and Asia Pacific are likely to emerge as two of the fastest growing markets. Growth of the cigars and cigarillos market in Asia Pacific is driven by the increasing demand in China.
Global Cigars & Cigarillos Market: Vendor Landscape
In order to study the prevailing competitiveness in the market, the report profiles enterprises such as British American Tobacco, Tobacco Group A/S, and Habanos S.A. These companies are studied based on their product portfolio, marketing strategies, and financial overview.