2014-03-25 03:53:01 - Cigars in China - a new market research report on companiesandmarkets.com
China Tobacco Chuanyu Industry Corp dominated cigars sales in China in 2012, recording a volume share of nearly 52%. With high product awareness and consistent quality, the company adheres to a multi-brand strategy with Great Wall, Shi Pai and Gong Zi targeting the premium, mid-range and mass subsectors respectively. In order to focus on the production of mid-ranged and premium cigars, the company invested RMB800 million in cooperating technologically with the Netherlands-based AGIO Cigar Company to establish the largest cigar manufacturing plant, which will be in full operation in 2013 with an annual production capacity of 2 billion sticks of cigars.
Compared with cigarettes, cigars have a much shorter history and narrower consumer base in China. Cigar smoking is considered not
only exotic but also luxurious thanks to sky-high unit prices. However, with the penetration of Western lifestyle trends and the burgeoning super-rich and middle class in China, cigars are increasingly accepted by local consumers, with volume and current value sales increasing strongly in 2012 despite the global economic downturn.
Cigars will record robust double-digit volume and value growth over the forecast period, with sales set to be driven by the fast-growing acceptance of cigar-smoking amid the large smoking population in China together with the booming middle class and super-rich population. Compared with cigarettes, cigars still have a relatively small consumer base in China and the area is still far from being mature. With the support of the STMA, cigars are expected to register healthy development and to be accepted by even more domestic smokers over the forecast period.
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