LONDON--(BUSINESS WIRE)--The flavored cigar market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. The market has witnessed a neutral impact due to the COVID-19 situation. The research analysts at Technavio expects the flavored cigar market to grow by USD 2.36 billion during the forecast period, accelerating at a CAGR of almost 5%.
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Flavored Cigar Market Segmentation Analysis by Product
The hand-made cigar segment accounted for the highest market share in 2019. However, the flavored cigar market growth share of machine-made cigar is expected to be the highest during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the flavored cigar market size.
Flavored Cigar Market Regional Analysis
- The report covers regional analysis for APAC (India, China, Japan, and South Korea), Europe (Germany, France, UK, Italy), North America (US, Canada, Mexico), South America (Brazil, Argentina, Columbia), and MEA (UAE, Saudi Arabia, Iran).
- 43% of the growth will originate from the North American region.
- Factors such as the increased popularity of disposable products, the availability of these cigars in retail stores and through online channels, and the rapidly rising demand from the younger population will significantly drive flavored cigar market growth in this region over the forecast period.
- The US is the key market for flavored cigar in North America.
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Flavored Cigar Market: Key Market Drivers
Flavored cigar market is expected to be driven by the high appeal of flavored cigars among young adults. Cigars infused with different flavors, such as cherry, grapes, chocolate, and strawberry, are becoming popular among the youth consumer segment and young adults. This is because cigars are one of the most heavily flavored of all tobacco products. This often attracts young adults who consider flavors as one of the important parameters when selecting a tobacco product. Players in this category are currently focusing on factors such as Innovative flavors, relative cheap prices, and colorful packaging to attract young customers.
Increase in Demand for Limited Edition Flavored Cigars will be a Key Market Trend
Players operating in this space are coming up with limited edition flavored cigars to keep customers interested and to draw more customers to their brands. These cigars are particularly bought by consumers for gifting purposes. Thus, many players are coming up with limited editions in their flavored cigar category. For instance, Gurkha Cigars sells limited-edition flavored cigars like GURKHA JUBILEE (which has oak, cocoa, coffee, and nutty flavors), GURKHA AVENGER G5 (with flavors of sweet spice, oak, and molasses), GURKHA THE BEAST (with flavors of tobacco, sweet spice, and earthy undertones), and GURKHA THE BEAUTY (with a flavor profile of chestnut, vanilla, and caramel). More players are expected to introduce limited-edition flavored cigars, which is likely to boost sales in the global flavored cigar market.
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Flavored Cigars Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist flavored cigar market growth during the next five years
- Estimation of the flavored cigar market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the flavored cigar market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of flavored cigar market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Machine-made - Market size and forecast 2019-2024
- Hand-rolled - Market size and forecast 2019-2024
- Market opportunity by Type
Market Segmentation by Flavor
- Market segments
- Comparison by Flavor
- Fruit-flavored cigar - Market size and forecast 2019-2024
- Alcohol- and non-alcohol-flavored cigar - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Flavor
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Flavored Cigar Market drivers
- Flavored Cigar Market challenges
- Flavored Cigar Market trends
- Vendor landscape
- Landscape disruption
- Competitive scenario
- Vendors covered
- Market positioning of vendors
- ALEC BRADLEY CIGAR DISTRIBUTORS INC.
- Arnold André GmbH & Co. KG
- Davidoff of Geneva USA Online Inc.
- Drew Estate
- Fuente Marketing Ltd.
- Gurkha Cigar Group
- Imperial Brands Plc
- Rocky Patel
- Scandinavian Tobacco Group AS
- Swisher International Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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