Today: October 23, 2016, 5:14 am

Global cigars market: 23 billion sticks sold by 2018
Cigars: A Global Strategic Business Report - a new market research report on 2014-03-14 08:13:01
The global cigars market is projected to reach 22.7 billion sticks by 2018, driven by higher taxation on Cigarettes that is driving consumers towards Cigars and growing availability of small and mass market Cigars.

Consumption of tobacco products is varied across the globe. While most of the markets are driven by cigarettes, a few are driven by smokeless tobacco products. Traditionally, cigar companies have not been as successful as cigarette companies across the developing economies in the world. For instance, Eastern Europe, especially CIS countries, holds tremendous growth potential for cigarette manufacturers, whereas growth in demand for cigars has been limited in these markets historically. However, growth across several traditionally low cigar-consuming markets has been on the rise during the past few years. These markets include Asia-Pacific, Latin America, and the Middle East. Countries exhibiting evidence of growth in the Asia-Pacific region include China, Hong Kong, Malaysia, South Korea and Taiwan.

Less stringent regulations and tax loopholes have made cigars the fastest growing segment in the tobacco industry worldwide. Cigar consumers across the globe show regional disparities on the basis of gender, smoking habits and age. In a market scenario where the consumption of cigarettes is witnessing consistent decline, the rising trend of cigar smoking speaks volumes of the manufacturing companies perceived strategy to create new consumer base which is apparently directed towards the youth. In order to balance the losses made by volume declines in cigarettes, several global and local players have shifted their focus to the cigar segment. Also, to create a consumer base in the cigar segment, manufacturers started offering line extensions that vary in flavors, color and design. As a result, the decline in cigarette consumption has come as a shot in the arm for the cigar industry.

The US represents the single largest market for cigars worldwide. Europe is another leading market for cigars worldwide. The Western European region has seen some of the most stringent anti-tobacco laws being implemented over the last few decades. Despite these restraints, the prevalence rates are still higher in comparison to other developing nations in the Asia Pacific and Latin American regions. Asia Pacific represents the fastest growing regional market worldwide projected to rise at a compounded annual rate of 3.6% in volume terms over the analysis period.

Click for report details: ..

Browse all Consumer Goods Market Research Reports ..

Browse all Consumer Goods Company Profile Reports ..

Browse all Latest Market Research Reports ..

About Us is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles,’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.

Press Information

Published by
Mike King
London: +44 (0) 203 086 8600

# 580 Words
Related Articles
More From Finance
P2P lending platform Monexo partners with IDBI-Trusteeship [..]
For Immediate Release: 2nd September 2016 MUKESH BUBNA, CEO Monexo Fintech Pvt Limited P2P [..]
Day Trade to Win New September Class [..]
Sold Out? New Class Added – On September 6, 2016, is launching a brand new eight-week trading boot camp [..]
FTM (Forget The Market) Reopens 3 Shares [..]
Port Vila, Vanuatu, 28th July 2016 - Investment firm FTM today announced the reopening of three separate share options, projected [..]
Ex-Citibanker Launching Online P2P marketplace in India [..]
A study conducted by World Bank shows that MSMEs in India face an estimated credit gap of INR 20.9 trillion [..]
New Frontier Portfolios Top Morningstar Rankings
New Frontier’s global strategic portfolios topped the Global Balanced Strategic/All-Inclusive category of the latest Morningstar ETF [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.