Luxury Cigars in the United Arab Emirates - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-06 10:35:02
Habanos SA is essentially the only coveted brand in the United Arab Emirates luxury cigars market thanks to its near complete dominance of cigars in the United Arab Emirates. The brands extensive history and reputation for very high quality levels, combined with the prestige and exclusivity of the Habanos brand name makes the company a perfect fit for the United Arab Emirates very affluent, highly brand-conscious, tobacco loving consumers.
Luxury cigars in the United Arab Emirates increased in value by 12% during 2012, a rate of growth which was somewhat higher than the 10% current value CAGR recorded over the entire review period. The key development in luxury cigars in the United Arab Emirates during the forecast period was the rising awareness of luxury cigars among consumers in the United Arab Emirates and the subsequent increase in consumption. Young, affluent residents of the United Arab Emirates, both Western expatriates and a rising number of local Arab citizens are increasingly being drawn to Cuban cigars, which are offered at numerous trendy cigar lounges as well as high-end tobacco specialist retailers, luxury hotels and bars. Dubai Duty Free also carries an extensive selection of Cuban cigars.
Although duty free retailers is a retail distribution channel which falls outside of the scope of Euromonitor Internationals research, the fact that Cuban cigars are on offer in duty free outlets has a significant influence on local consumers in terms of promoting brand awareness. Habanos SAs official licence holder for the United Arab Emirates, Baqer Mohebi Establishment, also aggressively promotes the companys brands with frequent events at La Casa del Habano retail outlets and cigar smoking lounges.
Demand for Cuban cigars is expected to continue building in the United Arab Emirates during the forecast period as increasing numbers of young United Arab Emirates residents are discovering the joys of smoking the cigars of Habanos SA and learning the principal points of cigar aficionado culture. Sales of luxury cigars are also set to be boosted by the anticipated increase in inbound tourism in the United Arab Emirates during the forecast period and the forthcoming completion of the numerous luxury hotels which are currently under construction in Abu Dhabi. Luxury cigars is expected to increase in constant value at a CAGR 9% over the forecast period, rising to AED127 million by the end of 2017.
- Luxury cigars increases in value by 12% in 2012, rising to AED84 million
- Growth in demand for luxury cigars is due to the strong promotion of Cuban cigars by the local license holder and rising consumer awareness of luxury tobacco products
- The Cuban cigars of state-run Habanos SA dominate luxury cigars in the United Arab Emirates thanks to strong support from its local partner
- Luxury cigars is set to increase in constant value at a CAGR of 9% over the forecast period
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