November 2024 | Report Format: Electronic (PDF)
Cigar & Cigarillos Market Growth & Trends
The global cigar & cigarillos market size is expected to reach USD 35.1 billion by 2030, registering to grow at a CAGR of 2.7% from 2024 to 2030 according to a new report by Grand View Research, Inc. Implementation of heavy taxes and increasing price of conventional cigarettes drive the product demand. Increasing number of consumers prefer cigars as they have better reputation and lower price, which is projected to positively influence growth.
The mass segment held major market share of global market owing to the growing popularity of cigars and cigarillos among the young consumers. Moreover, growing number of female consumers in the developed countries is expected to fuel the demand for mass products over the forecast period. However, the premium segment is expected to expand at the highest CAGR over the next seven years. Presence of luxury hotels and bars with cigar lounges, in developed countries, such U.S., U.K., and China have made comeback, thus, the consumption has increased drastically.
The flavored product segment is expected to expand at a CAGR of 2.8% over the forecast period. Many new consumers prefer flavored cigars as the taste is perceived to be better than the natural tobacco flavored products. Moreover, many consumers are migrating from other tobacco products including conventional cigarette to cigar and cigarillos. In addition, many companies have launched various flavored product to attract consumers, fueling the demand.
North America was the largest consumer in the cigar and cigarillos market in 2023. Growing demand for premium products in U.S. has helped the region gain major share. U.S. was the largest consumer in the world, accounting for more than 55% share of overall market. Followed by U.S., Germany and China are the largest markets. Growing number of young billionaires coupled with rising number of cigar lounges are the key factors driving the growth in China.
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Cigar & Cigarillos Market Report
Cigar & Cigarillos Market Report Highlights
- Mass cigars dominated the market by capturing revenue share of 82.4% in 2023. These products are popularly consumed by young consumers due to reasonable prices and several attractive flavors such as mint, menthol and chocolate.
- The flavored products segment is anticipated to grow at the fastest CAGR of 2.8% from 2024 to 2030. The growing popularity of these products in young consumers is driving the market growth. Additionally, increasing number of women consumers is expected to boost the market in coming years.
- The hypermarket and supermarket segment dominated the market with 45.9% share in 2023. Availability of wide range of premium and rare cigars in discounted pricing is the key factor supporting the segment growth.
Cigar & Cigarillos Market Segmentation
Grand View Research has segmented the global cigar & cigarillos market based on product, flavor, distribution channel, and region:
Cigar And Cigarillos Product Outlook (Revenue, USD Million, 2020–2030)
- Mass Cigar
- Premium Cigar
Cigar And Cigarillos Flavor Outlook (Revenue, USD Million, 2020–2030)
- Tobacco / No Flavor
- Flavored
- Fruit
- Mint
- Chocolate
- Others
Cigar And Cigarillos Distribution Channel Outlook (Revenue, USD Million, 2020–2030)
- Hypermarkets & Supermarkets
- Specialty Stores
- Online
- Others
Cigar And Cigarillos Regional Outlook (Revenue, USD Million, 2020–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Middle East and Africa (MEA)
- South Africa
List of Key Players in the Cigar & Cigarillos Market
- Altria Group Inc.
- Habanos S.A.
- Scandinavian Tobacco Group
- Grukha Cigars
- Swisher International Inc.
- Agio Cigars
- Swedish Match AB
- OETTINGER DAVIDOFF AG
- Drew Estate
- Imperial Brands PLC
