Researchmoz added Most up-to-date research on “Trends & Opportunities 2017 – 2022: Global Cigar market” to its huge collection of research reports.
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, in the recent years, had to face the brunt of global economic downturn. Currently, the market is growing at a decent pace with little cigars and cigarillos witnessing continuous rise in consumption and account for majority of sales. Premium cigars account for a very small percentage of overall cigar consumption but in terms of value and margins, it is very high compared to the mass cigar market.
Factors driving growth of the global cigar market are growth of emerging countries, impact of media and a gradual shift from cigarettes to cigars. While in some regions (Asia, South America, Central and Eastern Europe) there is growing popularity of cigars, the British culture is being passed to other developing countries as well. China is the potential market for cigar manufacturers as the country is fast growing in terms of cigar consumption. Flavored Cigars are gaining popularity in the US market as more teenagers or the first time smokers try flavored cigars in the US.
However, health effects, smoking bans in the US and Europe, taxation policies and heavy duty and the effect of economic crises pose major challenge to the growth of cigar industry. Major trends prevailing in global Cigar market are consumption pattern, popularity of Cuban cigars, dominance of Habanos and expensive cigars.