Luxury Cigar Market Growth, Size, Upcoming Trends, Key Manufacturers and Future Share 2032
Luxury Cigar Market Size- By Type, By Application, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
| Published: Jan-2023 | Report ID: FMCG2307 | Pages: 1 - 226 | Formats*: |
| Category : Consumer & Retail | |||
Global Luxury Cigar Market Overview
According to SPER Market Research, the Global Luxury Cigar Market is estimated to reach USD 27.47 billion by 2032 with a CAGR of 7.44%.
Cigarillos are a smaller version of giant cigars, whereas cigars are large rolls of tobacco. Cigars are a symbol of wealth and success. As a result, smoking cigars and cigarillos is typically done to celebrate special occasions. To counter the powerful flavour of tobacco, companies also create cigarillos and cigars with more palatable flavours. The smoking habit has become well-known among young adults as well. Determining customer knowledge about cigars and cigarillos to identify the client's preferred preferences is one of the sophisticated tactics utilised by tobacco companies. Although some varied filler with both short- and long-leaf handcrafted cigars are also referred to as premium cigars, premium or luxury cigars are totally handmade using long-leaf tobaccos. This is what caused many premium cigars to be pricey. Some expensive cigars contain as much tobacco as a whole pack of cigarettes and can take several hours to smoke.
Impact of COVID-19 on the Global Luxury Cigar Market
A rise in high-end hotel amenities with upscale cigar lounges is predicted to have a beneficial impact on market expansion during the projection period. Additionally, it is anticipated that the market expansion would be accelerated by the increased cigarette consumption among millennials. The COVID-19 epidemic has had a negative impact on the cigarette industry. The shutdown of factories and stores as a result of a rigorous lockdown had severe effects. Businesses have been favorably responding to the situation by providing upscale cigars online, since consumers preferred online purchase over offline due to security concerns. According to numerous surveys, people wanted to stop smoking because they were worried about increasing health risks if they got COVID-19, which led to an increase in cigar smoking. The difficulty of consumers to divert their attention to something else is blamed for this rise in consumption, which eventually results in customers spending more time and money on their smoking habits.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Application, By Distribution Channel. |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | Altadis, Fuente Marketing Ltd, General Cigar, Gran Habano Cigars, Gurkha Cigar Group, Mayan Import, Regius Cigars Ltd, Rocky Patel Premium Cigars, Swisher, The Villiger Group |
Global Luxury Cigar Market Segmentation:
1. By Type:
- Hand Rolled
- Machine Rolled
2. By Application:
- Female Smokers
- Male Smokers
3. By Distribution Channel:
- Offline
- Online
4. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Luxury Cigar Market Size (FY’2019-FY’2032)
- Overview of Global Luxury Cigar Market
- Segmentation of Global Luxury Cigar Market By Type (Hand Rolled, Machine Rolled)
- Segmentation of Global Luxury Cigar Market By Application (Female Smokers, Male Smokers)
- Segmentation of Global Luxury Cigar Market By Distribution Channel (Offline, Online)
- Statistical Snap of Global Luxury Cigar Market
- Growth Analysis of Global Luxury Cigar Market
- Problems and Challenges in Global Luxury Cigar Market
- Competitive Landscape in the Global Luxury Cigar Market
- Impact of COVID-19 and Demonetization on Global Luxury Cigar Market
- Details on Recent Investment in Global Luxury Cigar Market
- Competitive Analysis of Global Luxury Cigar Market
- Major Players in the Global Luxury Cigar Market
- SWOT Analysis of Global Luxury Cigar Market
- Global Luxury Cigar Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Luxury Cigar Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Luxury Cigar Manufacturing Base Distribution, Sales Area, Product Type6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Luxury Cigar Market
7. Global Luxury Cigar Market, By Type, 2019-2032 (USD Million)
7.1 Hand Rolled7.2 Machine Rolled
8. Global Luxury Cigar Market, By Application, 2019-2032 (USD Million)
8.1 Female Smokers8.2 Male Smokers
9. Global Luxury Cigar Market, By Distribution Channel, 2019-2032 (USD Million)
9.1 Offline9.2 Online
10. Global Luxury Cigar Market, By Region, 2019-2032 (USD Million)
10.1 Global Luxury Cigar Market Size and Market Share by Region (2019-2025)10.2 Global Luxury Cigar Market Size and Market Share by Region (2026-2032)10.3 Asia-Pacific
10.3.1 Australia10.3.2 China10.3.3 India10.3.4 Japan10.3.5 South Korea10.3.6 Rest of Asia-Pacific
10.4 Europe
10.4.1 France10.4.2 Germany10.4.3 Italy10.4.4 Spain10.4.5 United Kingdom10.4.6 Rest of Europe
10.5 Middle East and Africa
10.5.1 Kingdom of Saudi Arabia10.5.2 United Arab Emirates10.5.3 Rest of Middle East & Africa
10.6 North America
10.6.1 Canada10.6.2 Mexico10.6.3 United States
10.7 Latin America
10.7.1 Argentina10.7.2 Brazil10.7.3 Rest of Latin America
11. Company Profiles
11.1 Altadis
11.1.1 Company details11.1.2 Financial outlook11.1.3 Product summary11.1.4 Recent developments
11.2 Fuente Marketing Ltd
11.2.1 Company details11.2.2 Financial outlook11.2.3 Product summary11.2.4 Recent developments
11.3 General Cigar
11.3.1 Company details11.3.2 Financial outlook11.3.3 Product summary11.3.4 Recent developments
11.4 Gran Habano Cigars
11.4.1 Company details11.4.2 Financial outlook11.4.3 Product summary11.4.4 Recent developments
11.5 Gurkha Cigar Group
11.5.1 Company details11.5.2 Financial outlook11.5.3 Product summary11.5.4 Recent developments
11.6 Mayan Import
11.6.1 Company details11.6.2 Financial outlook11.6.3 Product summary11.6.4 Recent developments
11.7 Regius Cigars Ltd
11.7.1 Company details11.7.2 Financial outlook11.7.3 Product summary11.7.4 Recent developments
11.8 Rocky Patel Premium Cigars
11.8.1 Company details11.8.2 Financial outlook11.8.3 Product summary11.8.4 Recent developments
11.9 Swisher
11.9.1 Company details11.9.2 Financial outlook11.9.3 Product summary11.9.4 Recent developments
11.10 The Villiger Group
11.10.1 Company details11.10.2 Financial outlook11.10.3 Product summary11.10.4 Recent developments
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Luxury Cigar Market is projected to reach USD 27.47 billion by 2032, growing at a CAGR of 7.44% during the forecast period.
Luxury Cigar Market grew in market size from 2021. The Market is expected to reach USD 27.47 billion by 2032, at a CAGR of 7.44% during the forecast period.
Luxury Cigar Market CAGR of 7.44% during the forecast period.
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Luxury Cigar Market size is USD 27.47billion from 2022 to 2032.
Luxury Cigar Market Segment is Covered By Type, By Application, By Distribution Channel.
The North America region is anticipated to have the highest market share in the Luxury Cigar Market.
The key players in the market include Companies Covered Altadis, Fuente Marketing Ltd, General Cigar, Gran Habano Cigars, Gurkha Cigar Group, Mayan Import, Regius Cigars Ltd, Rocky Patel Premium Cigars, Swisher, The Villiger Group.
The smoking habit has become well-known among young adults as well. Determining customer knowledge about cigars and cigarillos to identify the client's preferred preferences is one of the sophisticated tactics utilised by tobacco companies.
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