May 23, 2024
India Cigar and Cigarillos Market

India Cigar and Cigarillos Market is Projected to Propelled by Growing Popularity Among Youth

Cigars and cigarillos are tobacco products that are largely smoked for pleasure or relaxation. They are made from dried and fermented tobacco and wrapped inside different types of tobacco, palm, or rice leaves. Cigars and cigarillos are often enjoyed on special occasions, social gatherings, or as an alternative to cigarettes. The Indian cigar and cigarillos market is growing due to rising disposable incomes and changing lifestyles of the youth population.

The global India Cigar and Cigarillos Market is estimated to be valued at US$ 3177.01  in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Growth in social media and celebrity endorsements has made cigars a style statement among young adults in India. The increasing popularity of cigars among young consumers is majorly influencing the Indian cigar and cigarillos market growth. Various cigar brands now promote exclusive parties and events on social platforms that attract millennials and Gen Z, further normalizing cigar smoking as a recreational activity. This rising trend of social cigar smoking is expected to continue driving the market over the forecast period.

SWOT Analysis
Strength: The growing popularity among the youth population and rising disposable income in India are driving the market growth.
Weakness: Stringent regulations and taxation policies along with rising health awareness can hamper the market growth.
Opportunity: Product premiumization and introduction of organic and natural cigar variants provide significant opportunities in the market.
Threats: Increase in taxes and regulations on tobacco products along with rising popularity of alternatives like e-cigarettes pose major threats to the market.

Key Takeaways
The India cigar and cigarillos market size is expected to witness high growth. The global India Cigar and Cigarillos Market is estimated to be valued at US$ 3177.01  in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030.

The South region dominates the India cigar and cigarillos market and is expected to retain its dominance over the forecast period. Factors such as high tobacco cultivation, strong distribution network of key players, and rising consumption among the youth population are driving the market growth in the region. The West region is expected to grow at the fastest CAGR over the forecast period due to rapid urbanization, rising disposable incomes, and changing lifestyles in the region.

Key players

Key players operating in the India Cigar and Cigarillos Market are AJF Cigars, Boutique Blends Cigars, Fenn Thompson & Co. Royal Cigar Works, Gurkha Cigar Group, Imperial Brands, Joya De Nicaragua, S.A., Scandinavian Tobacco Group, Swedish Match AB, and Swisher. Players are focusing on new product launches catering to the premium segment and expanding their geographic footprint to consolidate their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it