Flavored Cigar Market Analysis With COVID-19 Recovery Plan and Strategies for the Consumer Staples Industry

 

The flavored cigar market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. The market has witnessed a neutral impact due to the COVID-19 situation. The research analysts at Technavio expects the flavored cigar market to grow by USD 2.36 billion during the forecast period, accelerating at a CAGR of almost 5%.

Flavored Cigar Market Segmentation Analysis by Product

• Hand-rolled
• Machine-made

The hand-made cigar segment accounted for the highest market share in 2019. However, the flavored cigar market growth share of machine-made cigar is expected to be the highest during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the flavored cigar market size.

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Flavored Cigar Market Regional Analysis

• The report covers regional analysis for APAC (India, China, Japan, and South Korea), Europe (Germany, France, UK, Italy), North America (US, Canada, Mexico), South America (Brazil, Argentina, Columbia), and MEA (UAE, Saudi Arabia, Iran).
• 43% of the growth will originate from the North American region.
• Factors such as the increased popularity of disposable products, the availability of these cigars in retail stores and through online channels, and the rapidly rising demand from the younger population will significantly drive flavored cigar market growth in this region over the forecast period.
• The US is the key market for flavored cigar in North America.

·         Flavored Cigar Market: Key Market Drivers

·         Flavored cigar market is expected to be driven by the high appeal of flavored cigars among young adults. Cigars infused with different flavors, such as cherry, grapes, chocolate, and strawberry, are becoming popular among the youth consumer segment and young adults. This is because cigars are one of the most heavily flavored of all tobacco products. This often attracts young adults who consider flavors as one of the important parameters when selecting a tobacco product. Players in this category are currently focusing on factors such as Innovative flavors, relative cheap prices, and colorful packaging to attract young customers.

·         Increase in Demand for Limited Edition Flavored Cigars will be a Key Market Trend

·         Players operating in this space are coming up with limited edition flavored cigars to keep customers interested and to draw more customers to their brands. These cigars are particularly bought by consumers for gifting purposes. Thus, many players are coming up with limited editions in their flavored cigar category. For instance, Gurkha Cigars sells limited-edition flavored cigars like GURKHA JUBILEE (which has oak, cocoa, coffee, and nutty flavors), GURKHA AVENGER G5 (with flavors of sweet spice, oak, and molasses), GURKHA THE BEAST (with flavors of tobacco, sweet spice, and earthy undertones), and GURKHA THE BEAUTY (with a flavor profile of chestnut, vanilla, and caramel). More players are expected to introduce limited-edition flavored cigars, which is likely to boost sales in the global flavored cigar market,

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