The market for cigars has been growing expeditiously owing to a number of reasons. These include the increasing advancement of developing economies, the increasing impact of media, and the increasing preference for cigars from cigarettes. There have been a number of trends seen in the market impacting the growth of the market. These key trends have been elaborated as under:
- Launch of Gigantic Cigars: A number of companies have been introducing big-sized cigars owing to the increasing demand from consumers. Perdomo, CAO, Cohibo, and La Gloria have introduced larger-size cigars. It has been predicted that the corona will be a thing of the past soon in addition to the conventional Robusto. In 2016, a number of big-sized cigars will be introduced in the market. The company following the conventional trend may also introduced large-sized cigar owing to the increasing demand.
- Growing Introduction of Small Batch Cigars: A number of manufacturers who only manufacture long running cigars are now manufacturing small batch cigars. Camacho blackout is a key example of this type of cigar. The Blackout utilized tobaccos from four different harvest years and these are aged for an additional 2 years for giving them an amazing flavor and complexity. Another example is of the Oliva Serie V Melanio manufactured by the company Olivia. This company released its small batch cigar at IPCPR in 2013.
- Comeback of U.S. Tobacco: There has been an increased utilization of the U.S. tobacco lately. The U.S has made a slow comeback in the market for cigars in the past few years. This is owing to the fact that a large number of manufacturers in the U.S. have realized the high-quality of U.S. tobaccos. It is predicted that Kansas Criollo, Hartford Habano, and Oshkosh Oscuro will become tobacco kinds in the coming years. However, prior to that, there will be an increasing utilization of Connecticut, Pennsylvania, Virginia, Kentucky, and Tennessee tobaccos within the new cigar launches. Numerous manufacturers have realized the wide number of benefits associated with the usage of such tobaccos from the U.S. These include, proper climate and ideal labor costs for making amongst the best tobaccos globally.
Thus, the global cigar market is poised to grow owing to a number of new product introductions. However, the increasing bans on smoking within the U.S. and Europe, and the rising taxation policies are amongst the key factors that may impede the growth of the market in forthcoming years.