Precise Study on Europe cigar and cigarillos Market Covering Trends, Market Share and Forecast to 2024

Posted on 2018-05-01 by Mark Hub in Electronics // 0 Comments

Albany, USA, 2018-May-01 — /EPR Network/ —In order to study the various trends and patterns prevailing in the overall market for Consumer Products and Retail, Market Research Reports Search Engine (MRRSE) has included a new report titled “Europe Market Study on Cigar and Cigarillos: Tobacco/No Flavor Segment Anticipated to Remain Dominant in Terms of Value During 2016 – 2024” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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By flavor type, the mint and menthol segment accounted for a Y-o-Y growth of 2% in terms of value in 2016; this Y-o-Y growth rate is expected to increase to only 2.3% by 2024 end. Mint and menthol is expected to remain a low performing segment in the Europe cigar and cigarillos market throughout the forecast period and is estimated to account for a revenue share of 5.1% by 2024 end. On the other hand, the tobacco/no flavor segment is expected to remain dominant in terms of value contribution in the Europe cigar and cigarillos market over the period of forecast. This segment created absolute $ opportunity of US$ 382.7 Mn in 2016 over 2015 and is projected to create incremental $ opportunity of US$ 3,794.1 Mn between 2016 and 2024.

The mint and menthol segment was valued at US$ 1,158.8 Mn in 2016 and is expected to expand at a CAGR of 2.2% over the forecast period to be valued at around US$ 1,380 Mn by the end of 2024. Revenue from the chocolate and vanilla segment in the Europe cigar and cigarillos market is expected to increase at a CAGR of 2.4% during the forecast period.

Rising preference of women for cigars and cigarillos is a recent trend boosting the Europe cigar and cigarillos market

Nicotine addiction is one of the important reasons behind the increasing smoking habits among women. Psychological factors such as tobacco dependency also play a significant role that makes them difficult to stop smoking. For instance, women cite psychological reasons such as smoking as a sign of fashion in society and peer pressure. The social factors include upbringing of children in materially disadvantaged circumstances. These aforementioned factors are making women incline more towards smoking cigars and cigarillos, and to a certain extent, premium cigars. Remarkable cigar consumption among women has been recorded in Sweden.

In order to generate more sales revenue, manufacturers of cigars and cigarillos are focusing on expanding their product portfolio and production capacity. As a result, a majority of manufacturers are adopting strategies such as mergers and acquisitions as well as launching new products. This factor is creating a positive impact on the Europe cigars and cigarillos market. For example, Altria Group Inc. acquired John Middleton Inc., which is a leading manufacturer of machine-made large cigars, in order to expand its business in the cigarettes and smokeless tobacco products market.

Manufacturers are targeting both online and offline retailers with an objective to expand distribution networks, thereby making products easily available to consumers. Various cigar parlors are also becoming target outlets for cigar manufacturers. Through online sales, manufacturers are also providing various offers and coupons to attract more consumers. For instance, in order to expand and have a strong distribution network, Nomad Cigar Company entered into a distribution agreement with Emilio Cigars.

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Increasing influence of peers for smoking is expected to support revenue growth of the cigar and cigarillos market in France

In Western Europe, nearly 90% of the NORDIC population prefers tobacco /no flavor cigars and cigarillos followed by chocolate and vanilla flavored cigars and cigarillos. Increasing popularity of cigar parlors coupled with the lounge culture in Italy is anticipated to drive the growth of the cigar and cigarillos market in the country. In Switzerland, around 80% of the population uses tobacco/no flavor cigars and cigarillos, followed by fruit and candy flavored products. An increasing female smoking population in countries of Russia and Poland is expected to drive the growth of the Eastern Europe cigar and cigarillos market over the forecast period.

Europe Cigar and Cigarillos Market Segmentation

To understand and assess opportunities in the Europe cigar and cigarillos market, the analysts at Persistence Market Research have divided the report into two sections based on market segmentation as under:

By Flavor Type

Tobacco/No Flavor
Fruit & Candy
Mint & Menthol
Chocolate & Vanilla

By Focus Region

EU5
Benelux
Nordic
Eastern Europe
Switzerland

Research Methodology

The analysts have not only conducted forecasts in terms of CAGR but have also analyzed the Europe cigar and cigarillos market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities. Another key feature of this report is the analysis of all key market segments in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that providers can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the Europe cigar and cigarillos market. Macro-economic indicators such as food industry outlook, food and health supplement spending, and others have been considered to arrive at the indicated market numbers. Yearly change in inflation rate has not been considered while forecasting market numbers. In-depth secondary research is used to determine top industry players, products, applications, overall market size, and industry connotations.

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