Premium Cigar Market Report 2024 (Global Edition)

Global Premium Cigar Market Report 2024 Market Size Split by Type (Hand-Rolled Cigars, Machine-Made Cigars, Cigarillos, Shape, Parejo Cigars, Parejo, Box-Pressed, Culebra, Figurado Cigars, Torpedo, Be...

Premium Cigar Market Report Description

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Premium Cigar Market Insights Video

Competitive Landscape of the Premium Cigar Market

The premium cigar market is highly competitive, characterized by a few dominant brands and several smaller niche producers. Companies compete based on product quality, innovation, brand heritage, and distribution reach. Many brands also collaborate with cigar lounges, distributors, and retailers to enhance their presence. Additionally, exclusivity, limited editions, and brand reputation play significant roles in market competition.

In June 2024, Davidoff Cigars unveiled the Grand Cru Diademas Finas Limited Edition Collection, concluding its "Cigar History Repeated" series with a landmark innovation for the brand. Following the success of its "The Difference" campaign, Davidoff reintroduced three iconic cigars from its Signature, Millennium, and Aniversario White Band Collection as Limited Editions. To crown the series, the Grand Cru line now debuts in a new format with a unique blend. (Source: https://www.zigarren.zone/en/grand-cru-diademas-finas-limited-edition-collection/) In January 2024, Rocky Patel announced plans for a new factory in Estelí, Nicaragua, expected to open by the second half of 2026. The factory complex, spanning approximately 14 acres (eight manzanas), will feature eight buildings with the capacity to produce up to 60,000 cigars per day. In addition to cigar rolling, the facility will manage tobacco processing, including areas for pilones fermentation, sorting, stripping, and tobacco storage. (Source: https://halfwheel.com/rocky-patel-plans-new-60000-cigar-per-day-factory-for-nicaragua/434006/#:~:text=Rocky%20Patel%20is%20building%20his,of%20land%20in%20Estel%C3%AD%2C%20Nicaragua.)

Top Companies Market Share in Premium Cigar Industry: (In no particular order of Rank)

• General Cigar Company
• Davidoff
• Arturo Fuente
• Rocky Patel
• Padron Cigars
• Ashton Cigars
• La Flor Dominicana
• Oliva Cigar Company
• My Father Cigars
• Drew State Cigars
• Tatuaje Cigars
• A.J. Fernandez
• Camacho Cigars
• Habanos S.A.
• Perdomo Cigars
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Premium Cigar Market

Which Region Dominates the Premium Cigar Market in 2024?

According to Cognitive Market Research, North America currently dominates the premium cigar market, and the region is expected to have significant growth during the projected period. This is due to a large affluent consumer base, a strong cigar culture, and increasing demand for luxury smoking products. The presence of well-established cigar lounges and strong distribution networks further supports growth in the region.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). This is driven by rising disposable income, increasing awareness of premium products, and expanding affluent urban populations. Moreover, the growth of social clubs and lounges in countries like Japan, South Korea, and China boosts demand for high-quality cigars.

The current report Scope analyzes Premium Cigar Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Premium Cigar

According to Cognitive Market Research, the global premium cigar market size was estimated at USD 14251.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 5700.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.

• According to Cognitive Market Research, The United States premium cigar market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 4,497.77 million in 2024. The U.S. premium cigar market is poised for growth due to increased disposable income, consumer interest in luxury products, and expanding cigar lounges.
The Canada premium cigar market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 684.07 million in 2024. Canada’s growing premium cigar market is driven by rising demand for artisanal products, tobacco culture, and increasing events like cigar festivals. The Mexico premium cigar market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 518.75 million in 2024.

Europe Premium Cigar

According to Cognitive Market Research, the global premium cigar market size was estimated at USD 14251.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 4275.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.

• The United Kingdom premium cigar market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 718.28 million in 2024. In the UK, premium cigar sales are increasing as more consumers seek luxury experiences, with an appreciation for craftsmanship and exclusive blends.
The France premium cigar market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 393.34 million in 2024. The Germany premium cigar market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 846.54 million in 2024. Germany's rising premium cigar sales stem from its affluent consumers, high-end tobacco shops, and a growing trend toward premium lifestyle products. The Italy premium cigar market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 367.69 million in 2024. The Russia premium cigar market is projected to witness growth at a CAGR of 5.4% during the forecast period, with a market size of USD 662.69 million in 2024. The Spain premium cigar market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 350.59 million in 2024. The Luxembourg premium cigar market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 132.54 million in 2024. The Portugal premium cigar market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 89.78 million in 2024. The Greece premium cigar market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 51.31 million in 2024. The Rest of Europe premium cigar market is projected to witness growth at a CAGR of 5.1% during the forecast period, with a market size of USD 662.69 million in 2024.

Asia Pacific Premium Cigar

According to Cognitive Market Research, the global premium cigar market size was estimated at USD 14251.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 3277.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.

• According to Cognitive Market Research, China premium cigar market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 1,475.03 million in 2024. In China, expanding middle-class income, rising interest in Western luxury goods, and cigar smoking as a status symbol drive sales growth.
The Japan premium cigar market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 452.34 million in 2024. The India premium cigar market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 393.34 million in 2024. India's growing affluent class, interest in premium luxury products, and the increasing popularity of cigar clubs are boosting premium cigar sales. The South Korea premium cigar market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 327.78 million in 2024. The Australia premium cigar market is projected to witness growth at a CAGR of 9.6% during the forecast period, with a market size of USD 170.45 million in 2024. The South East Asia premium cigar market is projected to witness growth at a CAGR of 10.9% during the forecast period, with a market size of USD 226.17 million in 2024. The Rest of Asia Pacific premium cigar market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 232.73 million in 2024.

South America Premium Cigar

According to Cognitive Market Research, the global premium cigar market size was estimated at USD 14251.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 712.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil premium cigar market is projected to witness growth at a CAGR of 7.9% during the forecast period, with a market size of USD 304.98 million in 2024. Brazil’s premium cigar sales are rising due to a sophisticated tobacco culture, emerging luxury lifestyle preferences, and premium cigar festivals.
The Argentina premium cigar market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 119.71 million in 2024. In Argentina, premium cigar sales are increasing as luxury consumption grows, with niche markets demanding unique handcrafted cigars. The Colombia premium cigar market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 63.42 million in 2024. The Peru premium cigar market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 58.43 million in 2024. The Chile premium cigar market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 51.31 million in 2024. The Rest of Latin America premium cigar market is projected to witness growth at a CAGR of 6.4% during the forecast period, with a market size of USD 114.72 million in 2024.

Middle East and Africa Premium Cigar

According to Cognitive Market Research, the global premium cigar market size was estimated at USD 14251.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 285.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031..

• The GCC Countries premium cigar market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 121.99 million in 2024. The GCC’s premium cigar market thrives on the rising trend of cigar lounges, growing tourism, and high disposable income in the region.
The Egypt premium cigar market is projected to witness growth at a CAGR of 7.9% during the forecast period, with a market size of USD 29.93 million in 2024. The South Africa premium cigar market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 45.03 million in 2024. South Africa's premium cigar market benefits from rising urbanization, a growing upper-middle-class, and increased cigar culture through exclusive events. The Turkey premium cigar market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 24.51 million in 2024. The Nigeria premium cigar market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 29.93 million in 2024. The Rest of Middle East & Africa premium cigar market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 33.63 million in 2024.

Premium Cigar Market Analysis

Premium Cigar Market Type Segment Analysis

According to Cognitive Market Research, hand-rolled cigars are likely to dominate the premium cigar market over the forecast period due to their superior quality, craftsmanship, and traditional appeal. Consumers seeking premium, luxury experiences prefer hand-rolled cigars for their exquisite construction and rich flavors. These cigars cater to affluent individuals who value craftsmanship and authenticity, driving strong sales and a loyal consumer base.

The cigarillos is the fastest-growing segment in the premium cigar market due to their affordable pricing, convenience, and popularity among younger smokers. They offer a premium experience at a lower price point, making them increasingly popular for casual smokers and those new to cigar smoking. Cigarillos' ease of use and variety of flavors contribute to their rapid adoption.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Premium Cigar Industry. Request a Free Sample PDF!

Premium Cigar Market Origin Segment Analysis

According to Cognitive Market Research, the Dominican Republic segment holds the largest share of the market due to its long-established reputation for producing high-quality, premium cigars. It has a strong brand presence, with well-known brands sourced from the country dominating the global market. Its favorable climate and expertise in tobacco cultivation contribute to its dominance in the premium cigar segment.

In the premium cigar market, the Nicaragua has been expanding at a rapid pace as it is gaining recognition for producing cigars with unique, robust flavors. The rise of Nicaraguan cigars is supported by growing global demand for bold, complex smoking experiences. Investment in Nicaraguan tobacco farming and innovation in blending have driven rapid growth, making it a strong competitor in the premium cigar market.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Premium Cigar Flavor Segment Analysis

Premium Cigar Market Flavor Segment Analysis

According to Cognitive Market Research, the non-flavored cigars segment holds the largest share of the market as they are preferred by purists who seek the natural taste of high-quality tobacco. These cigars appeal to traditional cigar smokers who enjoy the authentic experience without artificial additives, and their versatility makes them a staple in the premium cigar market.

In the premium cigar market, the infused cigars has been expanding at a rapid pace as they cater to a new generation of cigar smokers interested in varied and innovative flavor profiles. With flavors ranging from coffee to spices and fruit, infused cigars appeal to those looking for a unique smoking experience. The experimentation with flavor has expanded their reach and popularity in the market.

• Natural Flavored Cigars
• Infused Cigars
• Non-Flavored Cigars

Premium Cigar Distribution Segment Analysis

Premium Cigar Market Distribution Channel Segment Analysis

According to Cognitive Market Research, the specialty stores segment holds the largest share of the market as they provide a wide range of premium cigars, catering to connoisseurs and enthusiasts. These stores offer a curated selection of high-quality cigars, ensuring expert recommendations and personalized experiences. The reputation and exclusivity of specialty stores make them the preferred choice for purchasing premium cigars.

In the premium cigar market, the online cigar retailers has been expanding at a rapid pace as consumers increasingly prefer the convenience of purchasing cigars online. With the ability to offer a wide variety of cigars, competitive prices, and home delivery, online retailers are appealing to a broader audience. E-commerce and online shopping trends support the continued growth of this distribution channel.

• Luxury Cigar Lounges
• Specialty Stores
• Brand Online Websites
• Online Cigar Retailers
• Supermarkets/Hypermarkets
• Tobacco Shops
• Duty-Free Shops

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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Profile

I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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