What is Luxury Cigar Market Scope?
Luxury or premium cigars are made entirely by hand with long leaf tobaccos, although some mixed filler with long and short leaf handmade cigars are also consider as premium cigars. This is also why many premium cigars cost more. These cigars are often quite 7 inches long, and typically contain between 5 and 20 grams of tobacco. Some premium cigars contain the tobacco equivalent of a whole pack of cigarettes, and may take between 1 and a couple of hours to smoke. Globally, the smoking has declined, but one niche segment of the cigarette market is flourishing. Sales of premium cigars are growing at between 4-5 percent a year, with a typical smoker getting younger by the day. Premium cigars in emerging markets like China, Russia and therefore the Middle East is growing fast, and virtually all markets outside of Europe are growing. In China, luxury cigars have the excellence of maintaining a high growth stream.
Influencing Trend:
Increasing Popularity in Young Generations and Fueling Demand of Smoking Areas in Hospitality Industries
Market Growth Drivers:
Symbol of Luxuries Life and Growing Dependency on Nicotine Addiction
Challenges:
Government Regulations over Advertisement
Restraints:
Rising Concern about Health and Fitness and Increasing Nicotine Base Diseases Including Cancer
Opportunities:
Attraction towards of Western Life Style
The Luxury Cigar market study is being classified, by Application and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Luxury Cigar market throughout the predicted period.
Alec Bradley Cigar Corp. (United States), J.C. Newman (United States), Ashton Estate Sun Grown (United States), Padrón Cigars (United States), General Cigar (United States), J. Cortès cigars (Belgium), Scandinavian Tobacco Group (Denmark), Swedish Match (Sweden), Agio Cigars (Netherlands), Swisher International (United States), Habanos (Republic of Cuba), Altria Group (United States), China Tobacco (China) and Davidoff (Switzerland) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Luxury Cigar market by Type, Application and Region.
On the basis of geography, the market of Luxury Cigar has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In 2016, FDA finalized a rule extending regulatory authority to cover cigars, and all other tobacco products, except accessories of those products. FDA regulates the manufacture, import, packaging, labeling, advertising, promotion, sale, and distribution of cigars. This includes components and parts such as rolling papers and filters, but excludes accessories such as lighters and cutters. If you make, modify, mix, manufacture, fabricate, assemble, process, label, repack, relabel, or import cigars, you must comply with the requirements for manufacturers.
Key Target Audience
Manufacturers of Luxury Cigar, Suppliers of Luxury Cigar, Wholesalers, Distributors and Retailers of Luxury Cigar, Regulatory Bodies and Others
Luxury Cigar Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Luxury Cigar Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Luxury Cigar industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.