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Cigar Market Revenue to Grow by 2021
Cigars are firmly-rolled cylindrical bundle of fermented and dried tobacco which is ignited and smoked by drawing in the mouth. Cigar tobacco is mostly grown in Latin America, Philippines, Eastern United States, Spain and Italy. Cigar is considered to be a status symbol by many and is more prevalent in European countries within premium segment.
The Cigars market across the globe is expected to show a single digit increase in CAGR growth by the year 2019. There is a significant increase in the Cigar market due to the usage of Cigar in multiple occasions such as social parties, birthday parties, colleges and among corporate.
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The key drivers of this market include the addition of smokers to inhale and cigars are considered superior than cigarettes due to lower levels of nicotine. Rising middle class, culture shift and affluent life style are among other driving forces in cigar consumption. Restraining factors could be plethora of government regulations and ban on tobacco production and consumption in several countries. In addition growing health concerns and aging of population act as another major restrains to consumption of Cigar. Major distribution channels are supermarkets, speciality stores and departmental stores.
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The Cigar market can be segmented into three major types on the basis of composition as wrappers, fillers and binders. It can also be segmented on the basis of shape and size as Parejo, Figurado, Pyramid, Culebras, Tuscanian and Little Cigars. In this report we have segmented the market geographically into North America, APAC, Europe and RoW regions.
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