Global Study on Cigars & Cigarillos Market, 2015 - 2025
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Global Cigars & Cigarillos Market Is Expected To Reach US$ 23,857.9 Mn by 2025: Persistence Market Research
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Global Study on Cigars & Cigarillos Market, 2015 - 2025 Persistence Market Research Released New Market Report According to a new market report published by Persistence Market Research “Global Market Study on Cigars & Cigarillos: Driven by Increasing Adoption of Flavored Cigars & Cigarillos Among Young Adults”, the cigars & cigarillos market is estimated to be valued at US$ 18,044.3 Mn by the end of 2015 and is anticipated to expand at a CAGR of 2.8% over 2015 - 2025 in terms of value, to reach a market value of US$ 23,857.9 Mn by 2025.
“Availability of Wide Varieties of Flavored Cigars & Cigarillos Is Increasingly Fueling Their Demand among Young Adults, Thereby Supporting the Market Growth”
The global cigars & cigarillos market is driven by the wide availability of flavored cigars & cigarillos and increasing the number of women smokers globally. Moreover, increasing penetration of cigar parlors and lounges, especially in North America and European countries, is expected to further fuel the market growth over the forecast period.
On the basis of type, the cigars & cigarillos market has been segmented into mass and premium. The mass segment dominated the market with a revenue share of 95.2% in 2014 and is projected to maintain its dominance through 2025. The premium segment is expected to exhibit a favorable growth over the forecast period. Increasing demand for luxurious products is expected to drive the segment growth in the global cigars and cigarillos market.
On the basis of category, the market is segmented into cigars, cigarillos and little cigars. The cigarillos segment accounted for the largest share in 2014 and is estimated to be valued at US$ 13,566.5 Mn by 2025, expanding at a CAGR of 3.2% over 2015-2025. The cigars segment is expected to exhibit a substantial growth in the market.
On the basis of flavor, the market is segmented into fruit/candy, mint/menthol and chocolate flavor. The mint/menthol segment is estimated to account for the highest value share in 2015. However, the fruit/candy flavor segment is expected to dominate the market in terms of value share over the forecast period.
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Global Study on Cigars & Cigarillos Market, 2015 - 2025 In terms of gender (end use), the male segment is projected to exhibit the highest growth over 2015-2025. The male segment was valued at US$ 25,034.9 Mn in 2014 and is expected to expand at a CAGR of 6.1% during the forecast period.
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The report provides in-depth information about the various trends driving each segment and provides analysis and insights about the cigars & cigarillos market in specific regions. North America accounted for the largest volume share 47.3% of the global cigars & cigarillos market in 2014. In terms of both value and volume, the Asia Pacific market is expected to register the highest CAGR over the forecast period.
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Key players in the cigars & cigarillos market that are covered in the report include Scandinavian Tobacco Group A/S, British American Tobacco, Imperial Brands, Plc, Altria Group, Inc., Habanos S.A., Drew Estate LLC, Swisher International, Inc., Oettinger Davidoff AG, Swedish Match AB, and Trendsettah USA, Inc.
Market History: The global cigar & cigarillos market is experiencing rapid growth, attributed to the increasing consumption of cigar & cigarillos among young adults. In addition, availability of wide variety of flavored cigars & cigarillos is attracting young adults, especially women, which is further expected to drive the market growth in the near future. For a better understanding and analysis of the industry, the market has been segmented on the basis of product type, category, flavor, size, gender (on the basis of end use), and region.
The global cigar & cigarillos market is estimated to expand at a CAGR of 2.8% from 2015 to 2025, to reach a market value of US$ 23,857.9 Mn by 2025. The market was valued at US$ 17,733.0 Mn in 2014. In terms of volume, the cigars & cigarillos market stood at 30,000.0 million units in 2014, and is projected to increase at a CAGR of 5.7% from 2015 to 2025. Asia Pacific and Europe are projected to be the fastest growing markets over the forecast period
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Global Study on Cigars & Cigarillos Market, 2015 - 2025 in terms of volume consumption. Growth of the Asia Pacific market is mainly attributed to increasing consumption of cigars & cigarillos in China. Moreover, rising demand for premium cigars and cigarillos in the country is further expected to drive the market growth in the region.
Among the product types, in terms of value, the mass segment accounted for the largest market share of 95.2% in 2014, and is projected to maintain its dominance through 2025. The premium segment is also projected to showcase a favorable growth over the forecast period. This growth is mainly attributed to increasing demand for premium cigars & cigarillos, especially in the U.S., China, and U.A.E.
On the basis of category, the cigarillos segment is majorly consumed by the consumers. The segment was valued at US$ 23,090.4 Mn in 2014. Growth of the segment is primarily driven by availability of wide verities of cigarillos at a low price. Cigars segment also accounts for a significant share of the market. The segment is expected to gain traction over the forecast period, owing to the increasing consumer inclination towards bigger tobacco products.
Among the various flavors, in terms of volume, the mint/menthol segment accounted for the largest market share in 2014. However, the fruit/candy segment is expected to be dominant in terms of volume share over the forecast period. Increasing inclination of women towards sweet flavor cigars and cigarillos is expected to drive the segment growth over the forecast period.
By end use, the male segment accounted for the largest value share of the cigar & cigarillos market, accounting for 83.4% value share, in 2014. The segment is expected to maintain its dominance through 2025. The female segment is expected to showcase a favorable growth in terms of volume consumption over the forecast period. North America dominated the market, accounting for 47.3% value share in 2014. The U.S. is expected to represent a favorable opportunity for the cigars and cigarillos market over the forecast period. The Asia Pacific market is expected to expand at the highest CAGR over the forecast period.
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Global Study on Cigars & Cigarillos Market, 2015 - 2025 Key players in the cigars & cigarillos market that are covered in the report include Scandinavian Tobacco Group A/S, British American Tobacco, Imperial Brands, Plc, Altria Group, Inc., Habanos S.A., Drew Estate LLC, Swisher International, Inc., Oettinger Davidoff AG, Swedish Match AB, and Trendsettah USA, Inc.
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