Saudi Arabia Cigar And Cigarillos Market Size & Outlook
Saudi Arabia cigar and cigarillos market, 2018-2030 (US$M)
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Saudi Arabia cigar and cigarillos market highlights
- The Saudi Arabia cigar and cigarillos market generated a revenue of USD 348.8 million in 2023 and is expected to reach USD 687.7 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 10.2% 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.
Cigar and cigarillos market data book summary
| Market revenue in 2023 | USD 348.8 million |
| Market revenue in 2030 | USD 687.7 million |
| Growth rate | 10.2% (CAGR from 2023 to 2030) |
| Largest segment | Mass |
| Fastest growing segment | Premium |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Mass, Premium |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.7% of the global cigar and cigarillos market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia cigar and cigarillos market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 687.7 million by 2030.
Mass was the largest segment with a revenue share of 77.47% in 2023. Horizon Databook has segmented the Saudi Arabia cigar and cigarillos market based on mass, premium covering the revenue growth of each sub-segment from 2018 to 2030.
In Saudi Arabia, the market for cigars and cigarillos is driven by several key factors. The increasing urbanization and growth of affluent consumer segments have spurred interest in premium and luxury tobacco products.
As the country continues to develop economically, there is a rising demand for highend lifestyle products, including premium cigars and cigarillos. Moreover, cultural shifts towards more diverse and international lifestyles have contributed to a growing acceptance and consumption of cigars, which were previously less common in traditional Saudi society.
In addition, there has been a notable increase in the number of luxury lounges and high-end establishments catering to cigar enthusiasts. These venues offer a sophisticated environment that aligns with the aspirational lifestyle of Saudi consumers, further driving demand.
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Cigar And Cigarillos Market Scope
Cigar And Cigarillos Market Companies
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Saudi Arabia cigar and cigarillos market size, by product, 2018-2030 (US$M)
Saudi Arabia Cigar And Cigarillos Market Outlook Share, 2023 & 2030 (US$M)
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