Boston, MA -- (SBWIRE) -- 08/06/2014 -- By tradition, cigar smoking is regarded a practice in upper-income groups, especially amongst men over 30 years of age. Over the review period, it has been detected that this practice has boomed, with cigar and wine tastings taking place in key cities of the country as a way to extend the cigar culture to younger generations.

At the same time, specialised media have emerged as a way to communicate new releases, exchange views and communicate cigar events. On the other side, there are the bulk of cigar users represented by those involved in witchcraft, a very common practice in low-income areas. In such a practice, economy products are used with little differentiation between brands.

Competitive Landscape:

Domestic producer Fabrica de Tabacos Bermudez CA is the leading company in Venezuela with a 61% volume share of cigars in 2013. This company produces flagship brand Crispin Patino, which held 44% of the total volume sold in 2013. Different vitolas are offered under Crispin Patino, the most recognised being Churchill and Torpedos (large cigars) as well as Robustos and Puritos (standard), amongst others. Local manufacturer Juan Francisco Cabrera e Hijo Sucesor CA ranked in third place with 8% volume share in 2013 due to the performance of La Cumanesa, a brand with a long tradition in the country.

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Industry Prospects:

Although the cigar culture has been booming over the review period, and new spaces such as cigar clubs have emerged as an antidote to antismoking laws, there is not expected to be a significant expansion of cigars over 2013-2018. As importers continue to deal with a restricted access to foreign currency given the non-essential nature of cigars, product offer will continue to be limited and insufficient to cover current demand. On the other side, domestic manufacturers have not shown signs of being concerned to expand their manufacturing capabilities or to invest in improving their manufacturing process, for which reason local supply will remain steady in the medium term.

Report Overview:

Discover the latest market trends and uncover sources of future market growth for the Cigars industry in Venezuela with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Cigars industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Cigars in Venezuela market research report includes:

- Analysis of key supply-side and demand trends

- Detailed segmentation of international and local products

- Historic volumes and values, company and brand market shares

- Five year forecasts of market trends and market growth

- Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

- What is the market size of Cigars in Venezuela?

- What are the major brands in Venezuela?

- What are the main distribution channels for cigars in Venezuela and which are performing well?

- What is the proportion of hand-made versus machine manufactured cigars in Venezuela?

Reasons to Get this Report:

- Gain competitive intelligence about market leaders

- Track key industry trends, opportunities and threats

- Inform your marketing, brand, strategy and market development, sales and supply functions

Product coverage: Cigarillos, Cigars Excluding Cigarillos.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

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