South Africa Luxury Cigar Market Size & Outlook, 2023-2030
South Africa luxury cigar market, 2018-2030 (US$M)
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South Africa luxury cigar market highlights
- The South Africa luxury cigar market generated a revenue of USD 230.4 million in 2023 and is expected to reach USD 357.0 million by 2030.
- The South Africa market is expected to grow at a CAGR of 6.5% 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 230.4 million |
| Market revenue in 2030 | USD 357.0 million |
| Growth rate | 6.5% (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, South Africa accounted for 1.6% 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 Middle East & Africa, South Africa luxury cigar market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 292.9 million by 2030.
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Luxury Cigar Market Scope
Luxury Cigar Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa 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 75.56% in 2023. Horizon Databook has segmented the South Africa luxury cigar market based on hand rolled, machine rolled covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa’s growing luxury cigar market can be attributed to a shift in smoking preferences, where the increasing popularity of luxury cigars is on the rise as cigarette usage declines. Individuals, particularly young entrepreneurs, are increasingly drawn to cigar smoking as a status symbol.
For instance, in Johannesburg's bars, customers frequently savor high-end cigars ranging from USD 6 to USD 50 per cigar. However, more extravagant options, such as the cognac-infused His Majesty's Reserve brand, which costs USD 750, are also available.
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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 South Africa luxury cigar market , including forecasts for subscribers. This country databook contains high-level insights into South Africa luxury cigar market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa luxury cigar market size, by type, 2018-2030 (US$M)
South Africa Luxury Cigar Market Outlook Share, 2023 & 2030 (US$M)
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