Flavored Cigar Market to increase by USD 5.13 billion between 2022 to 2027; The growth of the machine-made segment will be significant during the forecast period- Technavio
NEW YORK, Nov. 21, 2023 /PRNewswire/ -- The flavored cigar market size is expected to grow by USD 5.13 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 8.87% during the forecast period. High appeal of flavored cigars among young adults is notably driving the flavored cigar market. However, factors such as difficulty for the players to convince veteran cigar consumers to switch to flavored cigars may impede market growth. The market is segmented by Type (Machine-made and Hand-rolled), Flavor (Fruit-flavored cigar, Alcohol and non-alcohol-flavored cigars, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format
Key Segment Analysis
- The growth of the machine-made segment is significant during the forecast period. Machine-made flavored cigars are manufactured in large amounts using scraps of homogenized tobacco. This process is designed in such a way that it enables consistent production and faster output compared to handmade cigars. This also appeals to price-conservative consumers who still desire the flavors and aromas associated with flavored cigars. Young adults increasingly prefer these because they are usually less expensive and are more affordable than hand-rolled cigars. BACKWOODS (Imperial Tobacco Group), and Swisher International are some of the major players in this segment of the market. Furthermore, their convenience, as they are sold in packs or boxes, making it easier for consumers to purchase and enjoy them paired with the easy availability in convenience stores, gas stations, and online retailers drives the segment growth. To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report.
Geographical Market Analysis
- North America will contribute 48% to the growth of the global market during the forecast period. Factors such as the high popularity of disposable products, their increased availability in retail stores and through online channels, and rapidly growing demand from the young population base drive regional market growth.Their affordability as well as the fact that they do not impart bad breath factors in the growth of the regional market growth during the forecast period.
Company Insights
The flavored cigar market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Arnold Andre GmbH and Co. KG, C. Fuente Holdings Inc., DANNEMANN EL NOBLE CIGARRO GmbH, Firmin cigars, Godfrey Phillips India Ltd., Gurkha Cigar Group, Imperial Brands Plc, ITC Ltd., J. Cortes Cigars NV, Japan Tobacco Inc., North Carolina Tobacco Manufacturing LLC, Oettinger Davidoff AG, Paladin Cigars, Rocky Patel Premium Cigars LLC, Scandinavian Tobacco Group AS, Senenca Manufacturing Co., Snyman Tobacco Pty Ltd., Swedish Match AB, Swisher International Inc., Tatiana Cigars
- View a PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
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The tobacco market size is estimated to grow at a CAGR of 3.84% between 2022 and 2027. The market size is forecast to increase by USD 173.03 billion.
Flavored Cigar Market Scope | |
Report Coverage | Details |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 8.87% |
Market growth 2023-2027 | USD 5.13 billion |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 6.67 |
Regional analysis | North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution | North America at 48% |
Key countries | US, Malaysia, UK, Germany, and Belgium |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Flavor
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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