Cigar Lounges in the US - Industry Market Research Report
Description
Cigar Lounges in the US
The Cigar Lounges industry's long-term decline has been accelerated by the COVID-19 pandemic. Cigar lounges took a large hit following the outbreak of coronavirus in the United States, which prompted a shutdown of nonessential businesses. Industry revenue plummeted 4.8% in 2020. Post-COVID growth was short lived, with revenue growing only 0.7% in 2021 before falling 7.4% in 2022. Overall, industry revenue has been falling at a CAGR of 2.1% over the past five years and is expected to reach $730.4 million through the end of 2023. This includes an estimated 1.8% drop in 2023 alone.
This industry comprises businesses known as classic cigar bars or lounges, where patrons can purchase and smoke premium cigars in house. Players in this industry may also provide limited food, alcohol and entertainment services to complement their portfolio. This industry does not include establishments known colloquially as hookah bars or vape shops.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
The Cigar Lounges industry's long-term decline has been accelerated by the COVID-19 pandemic. Cigar lounges took a large hit following the outbreak of coronavirus in the United States, which prompted a shutdown of nonessential businesses. Industry revenue plummeted 4.8% in 2020. Post-COVID growth was short lived, with revenue growing only 0.7% in 2021 before falling 7.4% in 2022. Overall, industry revenue has been falling at a CAGR of 2.1% over the past five years and is expected to reach $730.4 million through the end of 2023. This includes an estimated 1.8% drop in 2023 alone.
This industry comprises businesses known as classic cigar bars or lounges, where patrons can purchase and smoke premium cigars in house. Players in this industry may also provide limited food, alcohol and entertainment services to complement their portfolio. This industry does not include establishments known colloquially as hookah bars or vape shops.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
38 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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