Handmade Cigars market will register a 3.7% CAGR in terms of revenue, the global market size will reach $ 1951 million by 2027, from $ 1684.9 million in 2021.
The consideration of cigar as a mesmerizing hobby and pastime is growing in admiration for the product. The introduction of different categories of cigar flavors such as vanilla, wine, chocolate, and other help to capture the attention of younger generation to consume the product. According to the data released by the Center for Disease and Control Prevention, in 2018, 4.9% of the adult population and 8% of the male population are considered to be consuming cigar in the United States. Additionally, several manufacturers are adopting better marketing strategies and are manufacturing the product at an affordable price which is helping to generate an excessive sale. Furthermore, more luxurious hotel use cigar as a welcome gift for their tobacco smoking guest to create a loyal guest assistance to raise the supplies of the product.he innovation of electronic cigars which comes with a rechargeable system and has the ability to be filled with cigar tobacco also acts as an opportunity for the growth of the market. For instance the launch of eKaiser which is rechargeable and comes with 3 x Gold Cigar Flavour E-cigar will help to raise the future market development.
Industry News
SWISHER’S RESPONSE TO THE FDA PROPOSAL OF A TOBACCO PRODUCT STANDARD TO BAN CHARACTERIZING FLAVORS IN CIGARS
Jacksonville, FL (April 28, 2022) – (BUSINESS WIRE): Today, Swisher issued the following statement in response to FDA’s announcements:
The Food and Drug Administration is moving forward with a proposed product standard regarding characterizing flavors in cigars despite a near-vacuum of scientific evidence to support this decision. FDA’S announcement today is only a proposed rule and must go through a lengthy comment and approval process before it can be enacted. Given this, Swisher will continue business as usual. Our entire portfolio remains available for us to market and sell to our adult consumers.
The evidence that does exist shows moderate consumption by a small cohort of adults and historically low youth usage. Based on the government’s own studies, youth usage of cigars has been declining for years and is at an all-time low. Furthermore, insufficient time has passed to determine whether raising the minimum age of purchase to 21, which was promoted as a tool to further impact and mitigate youth usage of all tobacco products, will effectively reduce these already low numbers.
Handmade Cigars Market is segmented based on the type, applications, companies and regions.
By Type, Handmade Cigars Market has been segmented into
By Application on Handmade Cigars Market are,
Handmade Cigars Market Regional Analysis
North America is projected to be the dominating region during the forecast period 2019-2026. The increasing import of cigars to this region helps to raise the consumption level. For instance, according to the data recorded by the Cigar Association of America, in 2017 around 330 million sticks were distributed to the U.S., which is considered as the largest import year in nearly two decades. Additionally, the region having manufacturers like Willy Cigars, Cuban Cigar Factor, Gran Havana Cigar Factory, Casa De Palma Cigar.co, and others who are trying hard to produce the finest cigars act as a flourishing factor which helps to drive more sales for the market growth.
Europe is estimated to show a strong presence during the coming years on an account of the progression of globalization more stores in this region are taking in cigars from different part of the world which assist generate more consumption of the product. For instance, according to the data published by the World Health Organisation, Europe has the highest occurrence of tobacco smoking adults with 28% and also has some of the highest adolescent tobacco consumers. Additionally, the increasing growth of women tobacco consumers in different countries of Europe like the United Kingdom, Italy, Spain, France, and others also acts as a flourishing factor for the rise in demand of the product. According to the data released by the Office for National Statistics,13% of the women population in the United Kingdom are estimated to smoke tobacco.
Report Attributes | Report Details |
Report Title | Handmade Cigars Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players - Imperial Tobacco Group, Swisher International, Scandinavian Tobacco Group, Habanos |
Forecast Period 2022 to 2028 CAGR | CAGR of 3.7% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | Imperial Tobacco Group, Swisher International, Scandinavian Tobacco Group, Habanos, Agio Cigars, J. Cortès cigars, Oettinger Davidoff, Plasencia Cigars, China Tobacco and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 95 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Handmade Cigars Market is studied from 2017 - 2027.
What is the growth rate of Handmade Cigars Market?
The Handmade Cigars Market is growing at a CAGR of 3.7% over the next 5 years.
What regions does this Handmade Cigars Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
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