Cigars are a symbol of power, wealth, and luxury and their popularity is not only not going down but continues to grow at a steadily rising cost of tobacco products and taxes. The earliest known cigar dates back to the 10th century and is depicted on a ceramic pot found in Guatemala. The popularity of cigars is increasing year by year and as of 2021, the global cigar industry has a market size of $15.25 billion.
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In this excellent statistical roundup, you’ll discover the latest cigar market data by the numbers and key statistics, here’s a summary of what you’ll learn below:
- Cigar Market Statistics (Top Picks)
- How big is the cigar market?
- Is the cigar market growing?
- Which countries smoke luxury cigars?
- How many people smoke premium cigars?
- Top 5 players in the cigar industry
- What percentage of men smoke cigars?
- What state smokes the most cigars?
Cigar Market Statistics (Top Picks)
- Revenue in the Cigars segment amounts to the US $21.38 bn in 2022
- From 2010 to 2021, cigar sales increased 154% (from $6 billion to $15.25 billion) (Data source: U.S. Alcohol and Tobacco Tax and Trade Bureau, Tax Statistics)
- The global cigar market is projected to grow at a CAGR of 7.8% through 2028.
- In global comparison, most revenue is generated in the United States (the US $12,05 billion in 2022).
- In 2021 sales of all cigar types, large and little soared to record numbers. Total cigar volume increased to 15.25 billion. Premium cigars also showed record numbers at 456 million imports for U.S. consumption, a 25% increase compared to 2020. (Source cigarassociation.org)
- Regarding total population figures, per-person revenues of US$3.72 are generated in 2022.
- In the Cigars segment, volume is expected to amount to 45,644.7m pcs. by 2027. The Cigars segment is expected to show a volume growth of 1.8% in 2023.
- The average volume per person in the Cigars segment is expected to amount to 7.6 pieces in 2022. (source statista.com)
- In 2020, an estimated 8.6 million American adults aged 18 and older (3.5%) smoked cigars.
- The largest cigar company in the world is Imperial, with a revenue of $41.546 billion and a net income of $1.62 billion (2021)
- As per the report published by The Brainy Insights, the global luxury cigar market is expected to grow to USD 25.26 Billion by 2030, at a CAGR of 7.80% during the forecast period 2022-2030
How big is the cigar market?
Despite a problematic period from 2010 to 2020 and the ongoing Covid-19 epidemic, cigar sales (large and small cigars) reached 15.25 billion units in 2022.
The main increase in cigar consumption is accounted for by large cigars. For 8 years, the increase in the percentage of Large cigars was 17.6%, while Small cigars showed a decline of 49% over the same period.
Premium cigars imported for consumption in the U.S. from the key supplier countries (Bahamas, Costa Rica, Dominican Republic, Honduras, Mexico, Nicaragua, and the Philippines) are showing significant growth of 45.2% from 2013 to 2021.
Key Statistics
- Due to the recession of 2008-2009, the cigar market slowed down significantly, which can be seen in the 9.4% decline in consumption up to 2015.
- The end of 2021 is a record-breaking year for all types of cigars sold (large and small). Average sales growth was 15% over 2020.
- The average year-over-year growth of the cigar market is about 5%. The current trend will continue in 2022.
- Premium imports are up 26.3% from 2020 to 2021.
Is the cigar market growing?
Yes. The global luxury cigars market is expected to grow from $13.33 billion in 2021 to $14.58 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The luxury cigars market is expected to grow to $19.56 billion in 2026 at a CAGR of 7.6%.
Source: reportlinker.com
Recent Developments
- In September 2021, The Villiger Group entered a joint venture with Joya De Nicaragua to open a new modern factory to increase the production of hand-rolled cigars. The company announced that opening a new factory would help it strengthen and expand its market position in the US market for luxury hand-rolled cigars.
- In June 2019, El Artista Cigars launched a range of new cigars under the Buffalo TEN brand, which claims to offer better tobacco quality with attractive packaging.
- In November 2019, Davidoff expanded operations in Hong Kong by opening a new flagship store in a luxury shopping destination, The Landmark. The new 580 sq. ft store is 61% bigger than the original 355 sq. ft store, located on the same premises.
Source: mordorintelligence.com
Which countries smoke luxury cigars?
The countries covered in the luxury cigars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.
How many people smoke premium cigars?
About 1 percent of the U.S. adult population smokes premium cigars. (https://www.nationalacademies.org/news/2022/03/premium-cigar-ingredients-as-harmful-as-cigars-and-cigarettes-health-effects-depend-on-frequency-patterns-of-use)
Top 5 players in the cigar industry
Major players in the luxury cigars market are
- Imperial Brands (Imperial Tobacco Group)
- Swedish Match AB
- Swisher International Group Inc.
- Scandinavian Tobacco Group
- Altria Group Inc.
What percentage of men smoke cigars?
Males comprised the majority of adult cigar (68.6%–95.8%) and cigarette (55.3%) smokers. Younger adults (aged 18–34 years) accounted for 64.5% of cigarillo smokers and 34.0%–46.8% of smokers of the other products (ie, premium cigars, nonpremium cigars, FCs).
Source: academic.oup.com
What state smokes the most cigars?
Ever cigar smoking rates were highest in Alaska (52.0%), Wisconsin (49.7%), Nevada (48.6%), Michigan (47.9%), and Oregon (46.7%). Ever cigar smoking was highest for men in Wisconsin (76.7%) and for women in Alaska (26.0%).
Source: infocomm.ky
Conclusion
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