Mexico Luxury Cigar Market Size & Outlook, 2023-2030
Mexico luxury cigar market, 2018-2030 (US$M)
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Mexico luxury cigar market highlights
- The Mexico luxury cigar market generated a revenue of USD 1,172.8 million in 2023 and is expected to reach USD 1,738.4 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.8% 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 1,172.8 million |
| Market revenue in 2030 | USD 1,738.4 million |
| Growth rate | 5.8% (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, Mexico accounted for 8.2% 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 North America, U.S. luxury cigar market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 6,124.4 million by 2030.
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Luxury Cigar Market Scope
Luxury Cigar Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Mexico 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 Mexico luxury cigar market based on hand rolled, machine rolled covering the revenue growth of each sub-segment from 2018 to 2030.
The market for luxury cigars in Mexico is influenced by various factors that contribute to its growth and popularity. Firstly, Mexico has a culture deeply rooted in the enjoyment of fine tobacco products. This cultural affinity for cigars, often associated with sophistication and leisure, drives the demand for luxury cigars.
Moreover, the country's growing economy has led to an expanding affluent class that seeks highquality, exclusive products, including luxury cigars. This rise in disposable income has allowed more individuals to afford premium and luxury goods, leading to an increased demand for cigars of superior quality and craftsmanship.
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Target buyers of Mexico 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 Mexico luxury cigar market , including forecasts for subscribers. This country databook contains high-level insights into Mexico luxury cigar market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico luxury cigar market size, by type, 2018-2030 (US$M)
Mexico Luxury Cigar Market Outlook Share, 2023 & 2030 (US$M)
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