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Europe Cigar And Cigarillos Market Revenues to Exceed 11000 Mn by 2024
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No-Flavour/Tobacco Cigars and Cigarillos Remain Sought-after Among Smokers
The market share of cigars and cigarillos with no-flavour/tobacco is anticipated to register a slight increase to reach 77% by 2024 from 76.7% in 2016. No-flavour/tobacco cigars and cigarillos would remain the most preferred in the market during the forecast period. In contrast, flavoured cigars and cigarillos including fruit & candy, mint & menthol, and chocolate & vanilla are projected to exhibit a slight decline in their market share by 2024-end.
EU5, the largest market for cigars and cigarillos, is projected to witness a slight decline in its revenue share by 2024-end. (Revenue share in 2016 and revenue share in 2024). (Eastern Europe is the second largest region for…) Benelux’s market share will witness a sligh increase… In addition, the cigar and cigarillos market in Germany and France is projected to register 2.5% and 1.9% CAGRs respectively.
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Trends Observed in the Europe Cigars and Cigarillos Market
Expansion of product portfolio remains a key market strategy for manufacturers. Mergers & acquisitions and new product launches remain a key component of market consolidation.
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Targeting both online as well as offline retailers, manufacturers are focusing on expansion of distribution networks, thereby offering easy availability of products to customers.
According to the WHO, demand for cigars and cigarillos is gaining traction among females in Europe.
Key companies profiled by Persistence Market Research in its report include Imperial Brands Plc, British American Tobacco PLC, Japan Tobacco, Inc., Swisher International Inc., Swedish Match AB, Altria Group, Inc.
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Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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