China Luxury Cigar Market Size & Outlook, 2023-2030
China luxury cigar market, 2018-2030 (US$M)
Related Markets
China luxury cigar market highlights
- The China luxury cigar market generated a revenue of USD 882.6 million in 2023 and is expected to reach USD 1,614.7 million by 2030.
- The China market is expected to grow at a CAGR of 9% 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.
Luxury cigar market data book summary
| Market revenue in 2023 | USD 882.6 million |
| Market revenue in 2030 | USD 1,614.7 million |
| Growth rate | 9% (CAGR from 2023 to 2030) |
| Largest segment | Hand rolled |
| Fastest growing segment | Hand Rolled |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, China accounted for 6.2% of the global luxury cigar market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China luxury cigar market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,614.7 million by 2030.
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Luxury Cigar Market Scope
Luxury Cigar Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 China luxury cigar market based on hand rolled, machine rolled covering the revenue growth of each sub-segment from 2018 to 2030.
The growing middle-income population group in the country, coupled with the increasing willingness of millennials to spend on luxury items such as cigars, is a significant driving force behind the demand for luxury cigars. Many consumers in this demographic are enthusiastic about exploring and savoring premium cigars.
Furthermore, the shifting consumer perception of smoking cigars is positively influencing the market. In China, smoking cigars has become a symbol of purchasing power, enjoyment, and refined taste. Apart from this, the popularity of Cuban cigars among high-net-worth individuals in the country is driving the market.
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Target buyers of China 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 country-level data and insights on the China luxury cigar market , including forecasts for subscribers. This country databook contains high-level insights into China luxury cigar market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China luxury cigar market size, by type, 2018-2030 (US$M)
China Luxury Cigar Market Outlook Share, 2023 & 2030 (US$M)
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