Nigeria: Cigars and Cigarillos Market and the Impact of COVID-19 on It in the Medium Term
The cigars market in Nigeria was equal to 34.00 million USD (calculated in retail prices) in 2015. Until 2025, the cigars market in Nigeria is forecast to reach 82.37 million USD (in retail prices), thus increasing at a CAGR of 10.41% per annum for the period 2020-2025. This is an increase, compared to the growth of about 7.32% per year, registered in 2015-2019.
The average consumption per capita in value terms reached 0.19 USD per capita (in retail prices) in 2015. In the next five years, it grew at a CAGR of 4.55% per annum. In the medium term (by 2025), the indicator is forecast to speed up its growth and increase at a CAGR of 7.65% per annum.
On contrary to other segments within the tobacco industry, the cigars and cigarillos category has experienced retail sales growth in both volume and value terms over the last few years. Despite the fact that fewer people are smoking cigarettes nowadays, cigar smoking still remains popular, especially among younger generations. What is more, many of the cigars and cigarillos come in flavoured varieties these days. In order to attract more customers, especially younger ones, most of the companies have been focused on adding flavours to make their products more appealing.
Geographically, the American region is the largest for cigars and cigarillos in terms of retail value. When it comes to flavoured variants, some of the most popular flavours are menthol, cherry and candy. However, in late 2019, the FDA (U.S. Food and Drug Administration) proposed a plan to ban menthol cigarettes and flavoured cigars in the country, mainly due to their appeal to the young people. Another recent development on the market includes the intentions of British tobacco group Imperial Brands to sell its global premium cigar business. Such action is a part of its plan to divest assets worth 2.61 billion USD by May 2020 in order to cut debt and support investments in vaping products.
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This report presents a strategic analysis of the Nigerian cigars and cigarillos market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it. It provides a comprehensive overview of the market volume and value, dynamics, segmentation, characteristics, main players, prices, international trade, trends and insights, growth and demand drivers, challenges, etc. This is one of the most comprehensive reports about the Nigerian cigars and cigarillos market, offering unmatched value, accuracy and expert insights.
The purpose of the report is to describe the state of the Nigerian cigars and cigarillos market and to present real and expert-verified information about the volumes, values, dynamics, segmentation and characteristics of consumption, prices, imports, and exports. The report also presents a forecast for the market development in the short and medium term and the impact COVID-19 has and will have on it. In addition, the report presents an elaborate analysis of the main market participants, industry trends and insights, growth and demand drivers and challenges and all other factors, influencing the market development.
Questions This Report Answers
The report on the Nigerian cigars and cigarillos market covers:
• Market volume, value and dynamics for the last five years;
• Analysis of the factors, influencing the market development (market trends and insights, drivers and challenges) and the impact COVID-19 has and will have on the market in both the short and the medium term;
• Value chain analysis and structure of price formation;
• Analysis of retail price levels and their dynamics for the last five years;
• Analysis of the major international trade flows;
• Volume, value, dynamics, and analysis of imports for the last five years;
• Volume, value, dynamics, and analysis of exports for the last five years;
• Volume and dynamics of the average import and export prices for the last five years;
• Volume, value, dynamics, and analysis of per capita consumption for the last five years;
• Forecast for market development in the medium term;
• Characteristics of the main players on the market;
• Analysis of the competitive landscape;
• Importance of the HoReCa channel (on-trade vs. off-trade consumption);
• Market shares of the main market players;
• Distribution channels for retail sales;
• Five Forces analysis;
• Analysis and forecast for the global economy and demographics.
How Can You Benefit from This Report?
With the help of this report you can:
• Discover reliable and expert-verified market data, with which you can confidently make smarter business decisions and drive your business forward;
• Track market data, including volume, value, forecasts, dynamics and structure – past, present and future;
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• Track and identify key market trends and insights and key drivers behind recent market changes and see the impact COVID-19 has and will have on the market in both the short and the medium term;
• Strategically assess growth potential, opportunities, demand drivers and challenges on the market;
• Strategically assess the importance of the HoReCa channel on the market;
• Discover the importance of each distribution channel for the retail market;
• Build and execute upon a strong strategy based on verified market data and expert insights;
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What Kind of Data Is Presented in This Report?
This report presents data, which is:
• Reliable (the report is prepared using a proven methodology, including both primary and secondary research);
• Expert-verified (the data is cross-checked and confirmed by more than 10 local experts, representatives of the main market players);
• Real (allowing you to confidently make smarter business and strategic decisions);
• Easy to read, perceive and understand (you do not have to be a market expert to understand what really is happening on the market and how it works);
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What Kind of Decisions You Can Make Based on the Data in This Report?
This report presents reliable and real market data, providing valuable support to make important strategic decisions regarding:
• Strategic planning;
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• Market and industry evaluation;
• Evaluation of market opportunities, risks and challenges;
• Regional and country evaluation and opportunity analysis;
• Market entry;
• Market growth;
• Pricing and promotion;
• New product development;
• Sourcing and supply chain management;
• Company evaluation;
• Mergers and acquisitions.
Who Is This Report for?
This report is for people who already are actively working on this market, representatives of producers, distributors, importers, exporters, wholesalers, retailers, suppliers:
• Industry C Level executives;
• Industry strategists;
• Marketing professionals;
• Business development professionals;
• Product developers;
• Product marketers and strategists;
• Product managers;
• Project managers;
This report is also for people, not directly or actively involved in the market, representatives of investors, consultants, advisors and financial institutions:
• Management consultants;
• Investment managers;
• Financial professionals;
• Bank managers;
• M&A managers.
This research report has been prepared using the proven WMStrategy’s methodology, including a blend of qualitative and quantitative data. The information comes from official sources and insights from market experts (representatives of the main market participants), gathered by semi-structured interviews. For this particular report, more than 10 market expert interviews have been conducted with experts from the leading market companies (producers, distributors, retailers, suppliers, etc.). The full list of interviewed experts and a detailed methodology are available upon request.
This report covers the following product groups:
• Cigars and cigarillos (including cigars and cigarillos; excluding filter cigars and cigarillos, smoking tobacco or untaxed cigars and cigarillos).
This is the most valuable, detailed (COVID-19 updated) and comprehensive report about the Nigerian cigars and cigarillos market currently available! We also offer similar reports, covering every global country and region separately and offer special terms for bundle purchases. So, if you are interested in the Nigerian cigars and cigarillos market, this research report will provide you with reliable, expert-verified and real market data you can safely and confidently base your decisions on. In a quick and hassle-free way, it will provide you with a strategic analysis of the market, its recent and future development. In addition, this solution will save you time and money while presenting you all the necessary information, empowering you to make informed commercial decisions and move your business forward!
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