Global Luxury Cigar Market Size & Outlook, 2023-2030
Global luxury cigar market, 2018-2030 (US$M)
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Global luxury cigar market highlights
- The global luxury cigar market generated a revenue of USD 14,303.1 million in 2023 and is expected to reach USD 23,269.6 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 7.2% by 2030.
- In terms of segment, hand rolled accounted for a revenue of USD 10,810.5 million in 2023.
- Hand Rolled is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 14,303.1 million |
| Market revenue in 2030 | USD 23,269.6 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Hand rolled |
| Fastest growing segment | Hand Rolled |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hand Rolled, Machine Rolled |
Other key industry trends
- In terms of revenue, the North America accounted for 36.8% of the global luxury cigar market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 1,738.4 million by 2030.
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Luxury Cigar Market Scope
Luxury Cigar Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global luxury cigar market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to luxury cigar market will help companies and investors design strategic landscapes.
Hand rolled was the largest segment with a revenue share of 75.58% in 2023. Horizon Databook has segmented the Global luxury cigar market based on hand rolled, machine rolled covering the revenue growth of each sub-segment from 2018 to 2030.
The increase in demand for luxury cigars among smokers contributes to the rise in the importation of premium or luxury cigars. Luxury cigars hold a significant place in the tobacco market as high-end products owing to their exceptional quality, unique flavors, and packaging.
Smokers who value uniqueness are drawn to luxury cigars due to their exceptional craftsmanship and quality. The import of luxury cigars is increasing among various nations and U.S. is one the leading importer of luxury cigars.
With the rise in disposable income, consumers are increasingly inclined toward premium or luxury and unique products. Luxury cigars are a lifestyle choice and are considered a status symbol. Cigars are also associated with indulgence and sophistication. This trend has been observed in both emerging and developed economies.
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Our clientele includes a mix of luxury cigar market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global luxury cigar market , including forecasts for subscribers. This global databook contains high-level insights into Global luxury cigar market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global luxury cigar market size, by regions, 2018-2030 (US$M)
Top 10 countries: Luxury cigar market size, 2023 (US$M)
Global luxury cigar market share, by type, 2023 & 2030 (%, US$M)
Luxury cigar market: Opportunity assessment by country
Global luxury cigar market, by region, 2023 (US$M)
| Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 4,724.8 | 5,124.6 | 4,278.4 | 4,585.8 | 4,915.3 | 5,268.5 | 5,647.1 | 6,052.8 | 6,487.7 | 6,953.9 | 7,453.6 | 7,989.2 | 8,563.2 | 7.2% |
| Europe | 3,344.3 | 3,619.7 | 3,015.7 | 3,225.7 | 3,450.3 | 3,690.6 | 3,947.4 | 4,222.2 | 4,516.0 | 4,830.3 | 5,166.4 | 5,526.0 | 5,910.5 | 7.0% |
| Asia Pacific | 2,331.6 | 2,556.1 | 2,156.6 | 2,335.9 | 2,529.7 | 2,739.4 | 2,966.1 | 3,211.3 | 3,476.5 | 3,763.2 | 4,073.1 | 4,408.1 | 4,770.2 | 8.3% |
| Latin America | 1,686.9 | 1,815.3 | 1,503.5 | 1,598.7 | 1,699.8 | 1,807.2 | 1,921.2 | 2,042.3 | 2,170.8 | 2,307.2 | 2,452.1 | 2,605.9 | 2,769.1 | 6.3% |
| MEA | 730.6 | 789.1 | 656.0 | 700.1 | 747.2 | 797.4 | 851.0 | 908.1 | 969.2 | 1,034.2 | 1,103.6 | 1,177.6 | 1,256.6 | 6.7% |
| Overall | 12,818.2 | 13,904.8 | 11,610.2 | 12,446.2 | 13,342.3 | 14,303.1 | 15,332.8 | 16,436.7 | 17,620.2 | 18,888.8 | 20,248.8 | 21,706.8 | 23,269.6 | 7.2% |
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