Latin America Luxury Cigar Market Size & Outlook
Latin America luxury cigar market, 2018-2030 (US$M)
Related Markets
Latin America luxury cigar market highlights
- The Latin America luxury cigar market generated a revenue of USD 1,807.2 million in 2023.
- The market is expected to grow at a CAGR of 6.3% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,807.2 million |
| Market revenue in 2030 | USD 2,769.1 million |
| Growth rate | 6.3% (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, Latin America region accounted for 12.6% 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 |
|---|
Latin America 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 Latin America luxury cigar market based on hand rolled, machine rolled covering the revenue growth of each sub-segment from 2018 to 2030.
Several economic, sociological, and individual factors have contributed to the rising demand for premium cigars among consumers in Central & South America. The global trend of luxury hotels incorporating premium cigar lounges is making luxury cigars more accessible and appealing.
Central and South America play a key role in the luxury cigar market, largely owing to their illustrious history in cigar craftsmanship. Nations like Cuba, the Dominican Republic, and Nicaragua are celebrated for their production of top-tier cigars, making them highly coveted destinations for cigar lovers. The region's proximity to the U.S. and its favorable climate for cultivating tobacco further bolster its prominence in the market.
Furthermore, consumers in the region have a notable preference for products that complement extravagant lifestyles. With the prevalent premiumization trend in the cigar market, consumers are willing to pay more for perceived higher-quality or luxury items. Furthermore, the growing popularity of flavored cigars among young and female consumers is contributing to the demand for cigars.
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Our clientele includes a mix of luxury cigar market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America luxury cigar market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America luxury cigar market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America luxury cigar market size, by country, 2018-2030 (US$M)
Latin America Luxury Cigar Market Outlook Share, 2023 & 2030 (US$M)
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