The global luxury cigar market revenue was around US$ 14.96 billion in 2023 and is estimated to reach US$ 27.53 billion by 2032, growing at a compound annual growth rate (CAGR) of 7% during the forecast period from 2024 to 2032.
Luxury cigar is a premium cigar, high quality, which is crafted with meticulous attention and created from the finest tobacco leaves. It is utilized for sophistication, exclusivity, and an excellent smoking experience and has two kinds machine-rolled and hand-rolled. Luxury cigars are known for their intricate flavors, smoothness, and aroma.
Market Driving Factors
Surging cigar culture and lifestyle trends to drive the market expansion. This is due to the cigar work is now related to relaxation and complexity and is a symbol of prestige and status. In addition, social media platforms and celebrity endorsements have also played an important role in popularizing cigar smoking, mainly among the younger. As a result, the emergence of new markets and surging globalization is expected to increase demand for luxury cigars.
The rise in consumer disposable money is driving the market growth. This is primarily due to the people spending more on luxury cigars, other high-end products, and experiences as their disposable income rises. As a result, higher disposable income allows customers to afford the higher price tags associated with luxury cigars.
Governments around the world have implemented several measures to control tobacco usage, such as higher taxation, advertising bans, packaging restrictions, and smoking bans in public areas. Thus, this factor is expected to limit the market growth.
Regional Analysis
North America dominated the market in terms of revenue. This can be attributed to the changes in customer preferences and surged demand for high-quality, premium cigars. In addition, persons who appreciate cigars now perceive upscale options as cultivated, exclusive, and cultured. Furthermore, the association between these premium cigars and moments of celebrations, relaxation, and elevated social status is appealing to those desiring a luxurious and distinguished experience in the region.
Asia Pacific is estimated to dominate the market in terms of the growth rate. This is due to the increasing smoking culture in the region, associated with a strong community of premium cigar enthusiasts. Furthermore, various retailers, distributors, and manufacturers are actively engaged in efforts to grow their footprint in the region.
Segmentation Insights
Type Insight
Hand rolled segment is estimated to dominate the market in terms of the largest share. This is due to premium smokers exhibiting a stronger preference for hand-rolled cigars over machine-rolled counterparts, mainly owing to the significantly higher quality associated with the former. As a result, luxury hand-rolled cigars are unique in that they are filled only with tobacco leaves, which gives them a more decadent flavor profile.
Machine rolled segment is expected to dominate the market in terms of the fastest rate. Machine-made luxury cigars are manufactured through automated processes, diverging from the complex hand-rolling method. This results in a reputation for uniformity and dependability. rendering them an excellent choice for everyday smoking. Furthermore, machine-made cigars often use different filler materials compared to their hand-rolled counterparts, containing shorter fillers consisting of a combination of stems, tobacco leaves, and residual scraps.
Distribution Channel Insight
The offline segment dominates the market in terms of the largest share. This is due to the brick-and-mortar retail stores offering a various array of choices, frequently incorporating attached warehouses to accommodate various customer preferences concerning flavors and brands. In addition, the wider the selection of available brands, the higher the likelihood of attracting and captivating a broad buyer base. As a result, key manufacturers are actively utilizing strategic initiatives to boost segment growth.
The online distribution segment is estimated to dominate the market in terms of revenue. This is due to the various driving elements such as online platforms offering a hassle-free shopping experience, allowing buyers to explore, select, and buy luxury cigars from the comfort of their own houses. In addition, vast product descriptions, customer feedback, and educational content allow consumers to make well-informed preferences when selecting cigars. As a result, this transparency and easy access to details enhance the online shopping experience, helping consumers in selecting cigars that perfectly match their tastes and fulfill their expectations.
Prominent Companies
Segmentation Outline
The global luxury cigar market segmentation focuses on the Type, Distribution Channel, and Region.
By Type
By Distribution Channel
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL LUXURY CIGAR MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: LUXURY CIGAR MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL LUXURY CIGAR MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL LUXURY CIGAR MARKET, BY TYPE
5.1 OVERVIEW
5.2 HAND ROLLED
5.3 MACHINE ROLLED
6 GLOBAL LUXURY CIGAR MARKET, BY DISTRIBUTION CHANNEL
6.1 OVERVIEW
6.2 OFFLINE
6.3 ONLINE
7 GLOBAL LUXURY CIGAR MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL LUXURY CIGAR MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 DANIEL MARSHALL
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 DAVIDOFF OF GENEVA USA
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 FUENTE MARKETING LTD
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 GURKHA CIGAR GROUP
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 MONTECRISTO
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 MY FATHER CIGARS, INC.
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 PILOTO CIGARS INC.
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 ROYAL DANISH CIGARS
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 SCANDINAVIAN TOBACCO GROUP A/S
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 TATUAJE CIGARS, INC.
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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