Cigars: A Global Strategic Business Report
San Jose, California (PRWEB) March 31, 2015
Follow us on LinkedIn – The cigar market is largely influenced by the smoking culture, economic environment, and regulations. Machine made cigars, cigarillos and little cigars represent the bulk of the global cigar market in terms of volume and value. The relatively less stringent tax framework and regulatory structure for cigars in comparison to cigarettes is driving smokers to switch to cigars from cigarettes.
The continued weakness in economic climate in most regional markets across the globe is encouraging sales of small cigars and cigarillos. As a result, mass market strategies have become critical to manufacturers to maintain profitability. A key trend in the market is the launch of cigars in kid-friendly flavors such as chocolate, candy, and fruit to attract youth and young adults. Premiumization of cigars in certain markets is driving demand for large size and premium branded cigars. Premium cigars market which represents a niche segment is witnessing significant sales growth. Cuban cigars, the leading segment in the premium cigars market, have bounced back from recession and are witnessing increasing demand in China, Europe and the Middle East. Despite the growth, the market will face challenges in the long-term posed by increasing excise taxes, growing health awareness and smoking bans. Smoking cigarillos and cigars leads to a number of health hazards, and will thereby witness considerable social and regulatory pressures similar to cigarettes and other tobacco products.
As stated by the new market research report on Cigars, the United States represents the single largest market worldwide. Driven by the strong cigar smoking culture, the country leads the global cigar market in terms of volume and value sales. While tighter regulations and market maturity are slowing down demand in established cigar markets, a surge in demand is being witnessed in emerging markets. Asia Pacific ranks as the fastest growing market with a projected CAGR of 10.2% over the analysis period. The growth in the region is driven by the presence of a large number of smokers, budding cigar smoking culture, and upscale lifestyles that encourage consumption of high priced consumer goods that symbolize luxury, sophistication, and style including cigars. In developing markets, cigars are increasingly being positioned and marketed as a lifestyle product for the young and financially successful population.
Major players covered in the report include Agio Cigars, Altadis SA, Dannemann Cigarenfabrik GmbH, Habanos SA, John Middleton Co., Scandinavian Tobacco Group A/S, Swedish Match AB and Swisher International.
The research report titled “Cigars: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, competitive landscape, company profiles, mergers, acquisitions and other strategic industry activities. The report provides annual sales estimates and projections in volume (sticks) and value (US$) terms for Cigars for the years 2014 through 2020 for the following geographic markets - US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India, Indonesia, Philippines, Singapore, South Korea, New Zealand and Rest of Asia-Pacific), Latin America (Brazil, Chile, Colombia, Mexico, and Rest of Latin America), and Rest of World. The report also provides market analytics for the historic period – 2007 through 2013 for additional perspective.
For more details about this comprehensive market research report, please click here
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