North America Cigar And Cigarillos Market Size & Outlook
North America cigar and cigarillos market, 2018-2030 (US$M)
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North America cigar and cigarillos market highlights
- The North America cigar and cigarillos market generated a revenue of USD 14,668.3 million in 2023.
- The market is expected to grow at a CAGR of 7.3% from 2024 to 2030.
- In terms of segment, mass was the largest revenue generating product in 2023.
- Premium is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 14,668.3 million |
| Market revenue in 2030 | USD 23,962.6 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Mass |
| Fastest growing segment | Premium |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Mass, Premium |
Other key industry trends
- In terms of revenue, North America region accounted for 28.6% of the global cigar and cigarillos market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 4,379.4 million by 2030.
Mass was the largest segment with a revenue share of 76.79% in 2023. Horizon Databook has segmented the North America cigar and cigarillos market based on mass, premium covering the revenue growth of each sub-segment from 2018 to 2030.
The market for cigars and cigarillos in North America is driven by a combination of cultural, economic, and regulatory factors. One of the primary drivers is the shifting consumer preferences toward premium tobacco products.
Unlike traditional cigarettes, cigars and cigarillos are often seen as luxury items associated with social status and a more refined smoking experience. This perception has been bolstered by the rise in disposable income among certain consumer segments, allowing more people to indulge in these premium products as part of their lifestyle choices.
In addition, the growth in the number of cigar lounges and smoking bars, particularly in urban areas, has also fueled interest and consumption, providing consumers with spaces to enjoy these products socially.
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Cigar And Cigarillos Market Scope
Cigar And Cigarillos Market Companies
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North America cigar and cigarillos market size, by country, 2018-2030 (US$M)
North America Cigar And Cigarillos Market Outlook Share, 2023 & 2030 (US$M)
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