Global Cigar market: Trends & Opportunities (2014-2018)
Scope of the Report
The report titled “Global Cigar Market: Trends and Opportunities (2014-2018)” provides an in-depth analysis of major cigar markets of China, United States, Germany, Spain, the UK and China. It also accesses the key opportunities and underlying trends in the market and outlines the factors that are and will be driving the growth of the industry in the forecasted period (2014-18). Further, key players of the industry like Imperial Tobacco, Habanos and Swedish Match have been profiled.
The cigar market faced the brunt of global economic downturn in the recent past. But the market is slowly gaining its previous pace and growing at a decent rate with the increasing popularity as well as sales of little cigars and cigarillos. Premium cigars account for a very small percentage of the overall cigar consumption rate but in terms of value and margins, it is very high compared to the mass cigar market.
The factors that drive the growth of global cigar industry include promising markets of emerging countries, the role of media and a gradual shift from tobacco smokers from cigarettes to cigars. While in some regions (Asia, South America, Central and Eastern Europe) the popularity of cigars is growing significantly, the British culture is being passed to other developing countries as well. China is the potential market for cigar manufacturers mainly because of the increasing consumption of cigars in this region. Flavored cigars are gaining popularity in the US market as more teenagers or the first time smokers are trying these new variants with zeal.
However, health effects, smoking bans in the US and Europe, taxation policies and heavy duty, coupled with the effect of economic crises pose major challenge to the growth of the cigar industry. Major trends prevailing in the global cigar market include consumption pattern, popularity of Cuban cigars, dominance of Habanos and expensive cigars.