Flavored Cigar Market Key Players, Competitive Strategies, and Forecasts
23 May 2019, Global flavored
cigar market is expected to grow at a significant CAGR in the upcoming
period as the scope and its applications are rising enormously across the
globe. These cigars are available in several flavors and tastes and in a wide
range of brands like from Backwoods to Swisher Sweets, ACID, and white owl. The
flavors cover the natural harshness and taste of tobacco, making commencement
easier for young smokers.
The factors that are playing a major role in the growth of the market
are the growing demand from young consumers, the high demand for limited
edition flavored cigars and fusion of flavors cigars, and the growing demand
from developing countries. However, the strict government policy against use of
flavored cigars may restrain the overall market in the years to come. The
market is segmented based on flavor type, product type, distribution channel,
and region. Peach, cherry, sour apple, wine, strawberry, vanilla, pink berry,
chocolate, grape, and other flavor types could be explored in a flavored cigar
market in the forecast period.
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Machine-made flavored cigars and hand-rolled flavored
cigars are the product types that could be explored in flavored cigar market in
the forecast period. The machine-made cigars sector may accounted for the
substantial market share of flavored cigar and is estimated to lead the overall
market in the years to come. Also, the sector is estimated to continue its
dominance in the years to come. The reason could be the growing young populace
preferring flavored cigars, cost-efficient, and the availability in several
flavors.
Based on the distribution channel, retail stores, online
channels, specialty stores, and others could be explored in the market in the
forecast period. The retail sector accounted for the substantial share of
flavored cigar market and is estimated to lead the overall market in the years
to come. Also, the online channel is estimated to grow at the fastest pace in
the years to come.
Flavored Cigar Market |
Globally, North America accounted for the substantial
share of flavored cigar industry and is estimated to lead the overall market in
the years to come. The reason behind the overall market growth could be the
increasing interest of youngsters for flavored cigars, the presence of key
manufacturers in the region, and the rising disposable income. The United States
and Canada are the major consumers of a flavored cigar in this region.
Europe and the Asia Pacific are also estimated to have a
positive influence on future growth. Europe is the second largest region with
significant market share. However, Asia Pacific is estimated to grow at the
highest CAGR in the forecast period. The developing countries like India and
China are the major consumers of flavored cigar in this region. The reason
could be the changing lifestyle and rapid urbanization.
The key players of flavored cigar market are Miami Cigar,
General Cigar, Imperial Tobacco, Drew Estate, Gurkha Cigars, Avanti Cigar,
Scandinavian Tobacco Group, Alec Bradley Cigar Distributors, Davidoff of Geneva
USA, and Arnold André. These players are concentrating on inorganic growth to
sustain themselves amidst fierce competition.
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