Assessing Major Growth Opportunities of Cigars & Cigarillos Market During 2016 to 2024
Zion Market Research, the market research group announced the analysis report titled 'Cigars & Cigarillos Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024'
Sarasota, FL -- (SBWire) -- 10/29/2018 --Global Cigars & Cigarillos Market: Overview
The dried and fermented tobacco leaves are tightly rolled and bound together to form cigars and cigarillos. These are of varied sizes, thicknesses, and lengths. The cigars are burnt at the end in order to intake tobacco smoke into the mouth. The cigars and cigarillos have become more popular in young and adult people. They are now considered a status symbol. People are ready to pay more money for their varied flavors. However, celebrities became an ideal example for attracting more consumers towards cigars and cigarillos. The smoking trend is gaining popularity among young and adult women too. For instance, Snoop Dogg launched his own tobacco cigar line, a new cigar brand—Executive Branch.
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Global Cigars & Cigarillos Market: Growth Factors
Lower tax on cigar and cigarillos products is expected to fuel market. In addition, consumer acceptance of cigar and cigarillos as a status symbol is further anticipated to boost the market in future. One of the major driving factors is the difference in the in the tax rate. Increasing demand for cigars and cigarillos owing to its growing popularity is anticipated to contribute to the growth of the global market. Conversely, strict government regulation over advertisement and smoking in the public places restraints the market growth.
Global Cigars & Cigarillos Market: Segmentation
The global cigars & cigarillos market is segmented on the basis of category as little cigars, cigars, and cigarillos. Of these, cigarillos accounted for the largest category segment due to its availability at low prices. Based on types, the global market is categorized as premium and mass. Of which, premium is the leading segment in the global market. The premium category brand shows robust growth in countries such as China, the U.S., and the UAE. Further, the cigars & cigarillos market is bifurcated on the basis of flavor as fruit, mint, chocolate, and others. The mint flavor contributed for the largest market share. Fruit is expected to dominate the market in the near future.
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Global Cigars & Cigarillos Market: Regional Analysis
North America is the dominating region for cigars & cigarillos market owing to favorable growth opportunities in this region. Asia Pacific is also expected to boost the market growth due to rising popularity in the youth. Furthermore, China is emerging as a demanding region for cigars & cigarillos market. The U.S. is also an emerging market for the cigars and cigarillos having a lower tax for cigarettes compared to others. The cigars and cigarillos are not controlled by the Family Smoking Prevention and Tobacco Control Act in the U.S. Hence, this region is anticipated to witness growth in the future. Under this act, nearly 20 cigarettes and flavored cigarettes have been banned in the U.S. but are not applicable to cigars and cigarillos; this is expected to propel the global market in future.
Global Cigars & Cigarillos Market: Competitive Players
The major industries operating in the global cigars and cigarillos market include Trendsettah USA, Inc., British American Tobacco, Swisher International, Inc., Altria Group, Inc., Drew Estate LLC, Swedish Match AB, Imperial Brands, Oettinger Davidoff AG, Habanos S.A., Scandinavian Tobacco Group A/S, Altadis, and Godfrey Phillips India Ltd. and Plc.
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