Asia Pacific Luxury Cigar Market Size & Outlook, 2023-2030
Asia Pacific luxury cigar market, 2018-2030 (US$M)
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Asia Pacific luxury cigar market highlights
- The Asia Pacific luxury cigar market generated a revenue of USD 2,739.4 million in 2023.
- The market is expected to grow at a CAGR of 8.2% from 2024 to 2030.
- In terms of segment, hand rolled was the largest revenue generating type in 2023.
- Hand Rolled is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,739.4 million |
| Market revenue in 2030 | USD 4,770.2 million |
| Growth rate | 8.2% (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 |
| Key market players worldwide | Scandinavian Tobacco Group A/S, Gurkha Cigar Group, Davidoff of Geneva, Arturo Fuente Coffee, Cigars Direct, Casa de Montecristo |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 19.2% of the global luxury cigar market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,770.2 million by 2030.
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Luxury Cigar Market Scope
Luxury Cigar Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific 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 Asia Pacific luxury cigar market based on hand rolled, machine rolled covering the revenue growth of each sub-segment from 2018 to 2030.
The growing smoking culture in Asia Pacific, coupled with a strong community of premium cigar enthusiasts, is fueling the demand for luxury cigars in the region. Several distributors, retailers, and manufacturers are actively working toward expanding their presence in the region.
In August 2023, Honduras-based provider of luxury cigars Ferio Tego announced the distribution of its luxury cigars through the Davidoff of Geneva Asia website. Davidoff of Geneva, a key player in the luxury cigar market, now distributes Ferio Tego’s luxury cigar offerings to Japan, Macau, and Hong Kong.
The company’s first Asian collection includes four blends: Supreme, Panamericana, Prestige, and Sterling. The blends fall under Ferio Tego’s Timeless Collection and are manufactured in Nicaragua and the Dominican Republic.
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Target buyers of Asia Pacific luxury cigar market databook
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific luxury cigar market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific luxury cigar market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific luxury cigar market size, by country, 2018-2030 (US$M)
Asia Pacific Luxury Cigar Market Outlook Share, 2023 & 2030 (US$M)
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