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Luxury Cigar Market worth $20.95 billion by 2030, growing at a CAGR of 7.00% - Exclusive Report by 360iResearch
Luxury Cigar Market | 360iResearch
The Global Luxury Cigar Market to grow from USD 13.04 billion in 2023 to USD 20.95 billion by 2030, at a CAGR of 7.00%.
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Luxury cigars primarily constitute high-end, premium cigars crafted using top-quality tobacco leaves and involve skilled artisanship in their production process. These cigars cater to an upscale clientele with discerning tastes appreciating the richness and complexity of flavors and the overall smoking experience associated with luxury cigars. The growth of the luxury cigar market is influenced by several factors, such as increasing disposable incomes and evolving consumption preferences. However, stringent tobacco usage and advertising regulations, fluctuating tax rates on imported cigars, counterfeiting of premium cigars affecting consumer trust, and health-conscious trends leading to reduced smoking rates among younger generations may limit market adoption among consumers. Collaborations with luxury brands from other industries can offer unique product offerings that merge brand prestige with artisanal craftsmanship. Furthermore, leveraging technology to create immersive and personalized smoking experiences through augmented reality or virtual events can attract more consumers and is expected to create a lucrative market opportunity.
The Americas has a significant market landscape in the luxury cigar market owing to the presence of key market players and increasing consumer interest and ease of access through online channels and cigar clubs. Europe has a lucrative market presence in the luxury cigar market due to the presence of major importers and distributors of luxury cigars. Increased awareness about artisanal craftsmanship and vintage cigar brands' rising popularity also contributed to overall market demand. The Middle East is known for its affinity toward luxury items, including cigars. The UAE, Saudi Arabia, and Qatar have experienced substantial growth in recent years as higher disposable incomes fuel demand for premium products. The Asia-Pacific (APAC) region offers immense potential for the luxury cigar market due to growing middle-class consumer expenditure and increased appetite for high-end products.
Market Segmentation & Coverage:
This research report categorizes the Luxury Cigar Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Hand Rolled and Machine Rolled. The Machine Rolled is projected to witness significant market share during forecast period.
Based on Size, market is studied across Gigante, Presidente, Robusto, and Toro. The Robusto is projected to witness significant market share during forecast period.
Based on Flavour, market is studied across Flavored and Tobacco/No Flavor. The Tobacco/No Flavor is projected to witness significant market share during forecast period.
Based on Distribution Channel, market is studied across Offline and Online. The Offline is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Luxury Cigar Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Luxury Cigar Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Luxury Cigar Market, highlighting leading vendors and their innovative profiles. These include Alec Bradley Cigar Corp., Altadis SA, Arnold André GmbH & Co. KG, Arturo Fuente by C. Fuente Holdings, Inc., Corona Cigar Co., Davidoff of Geneva USA Online, Inc., General Cigar Co., Inc.,, Gran Habano Cigars, Gurkha Cigar Group, Habanos S.A., Holt's Cigar Company, Imperial Brands PLC, J Cortes Cigars NV, Luxury Cigar Club, Padrón Cigars, Regius Cigars Ltd., Royal Agio Cigars, Scandinavian Tobacco Group AS, Swedish Match AB, Swisher International Inc., and The Mayan Import Co..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Luxury Cigar Market, by Product
7. Luxury Cigar Market, by Size
8. Luxury Cigar Market, by Flavour
9. Luxury Cigar Market, by Distribution Channel
10. Americas Luxury Cigar Market
11. Asia-Pacific Luxury Cigar Market
12. Europe, Middle East & Africa Luxury Cigar Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Luxury Cigar Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Luxury Cigar Market?
3. What is the competitive strategic window for opportunities in the Luxury Cigar Market?
4. What are the technology trends and regulatory frameworks in the Luxury Cigar Market?
5. What is the market share of the leading vendors in the Luxury Cigar Market?
6. What modes and strategic moves are considered suitable for entering the Luxury Cigar Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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