Spain Cigar And Cigarillos Market Size & Outlook
Spain cigar and cigarillos market, 2018-2030 (US$M)
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Spain cigar and cigarillos market highlights
- The Spain cigar and cigarillos market generated a revenue of USD 1,201.3 million in 2023 and is expected to reach USD 1,984.4 million by 2030.
- The Spain market is expected to grow at a CAGR of 7.4% 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 1,201.3 million |
| Market revenue in 2030 | USD 1,984.4 million |
| Growth rate | 7.4% (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, Spain accounted for 2.3% 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 Europe, UK cigar and cigarillos market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 1,462.2 million by 2030.
Mass was the largest segment with a revenue share of 72.05% in 2023. Horizon Databook has segmented the Spain cigar and cigarillos market based on mass, premium covering the revenue growth of each sub-segment from 2018 to 2030.
There is a growing demand for cigar & cigarillos in Spain. This growth is largely attributed to the rising number of cigar aficionados and the booming tourism industry, which often sees visitors indulging in local cigar culture.
In addition, cigars are increasingly perceived as symbols of luxury and leisure, attracting a broader demographic that includes younger consumers and women, which was traditionally dominated by middle-aged men.
Despite the growth potential, the market faces challenges from heightened health awareness and regulatory changes. The Spanish government has implemented stricter regulations, including increased excise taxes on tobacco products and a prohibition on flavored tobacco sales, which are expected to negatively impact overall sales.
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Cigar And Cigarillos Market Scope
Cigar And Cigarillos Market Companies
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Spain cigar and cigarillos market size, by product, 2018-2030 (US$M)
Spain Cigar And Cigarillos Market Outlook Share, 2023 & 2030 (US$M)
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