Cigars - Caribbean
Caribbean- The revenue generated in the Cigars market in 2024 amounts to US$78.3m.
- It is anticipated that the market will experience an annual growth rate of 4.75% from 2024 to 2029 (CAGR 2024-2029).
- When compared globally, United States generates the highest revenue in this segment, reaching US$13bn in 2024.
- In terms of per capita revenues, each person contributes US$2.29 to the total revenue in 2024.
- Looking ahead, the volume in the Cigars market is projected to reach 220.4m pieces by 2029.
- Furthermore, the segment is expected to exhibit a volume growth of 0.9% in 2025.0.
- On average, each person is estimated to consume 6.2pieces cigars in the Cigars market in 2024.
- It is worth noting that these figures pertain to in the Caribbean country.
- The Caribbean region is known for its rich history and tradition of producing high-quality cigars, making it a sought-after destination for cigar enthusiasts worldwide.
Definition:
Cigars are rolled bundles of dried and cured tobacco leaves that vary widely in size and shape, from cigarette-like cigarillos to bulging "Churchills" or "Gordos" which can measure up to 20 centimetres. Relatively low-priced Cigarillos compete in some markets with traditional cigarettes for quick nicotine-rushes while the bigger variants which take longer to smoke are a luxury item that are mostly consumed in a more leisurely way at home or on special occasions. Originating in the Americas, cigar tobacco today is still grown mostly in Central America and the Caribbean, as well as the United States, the Philippines and Indonesia. The global cigar industry is dominated by Imperial Brand's subsidiary Altadis and the Scandinavian Tobacco Group.
Additional information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit, and sales channels. To give a better representation of per capita figures, the population considered is 15 years and above. The price per unit denotes the cost of a single cigar.
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In-Scope
- Cigars such as Davidoff Nicaragua Diadema, Rock Patel Sixty Sixty, etc
- Cigarillos such as Al Capone, Black & Mild, Backwoods, etc
Out-Of-Scope
- Untaxed Cigars and cigarillos which are illegally sold
- (Filter) Cigarettes such as Marlboro Reds, Marlboro Golds, Camel Blues, etc
- Smoking Tobacco such as Marlboro Gold Fine Cut Hand Rolling Tobacco, Gold Leaf Hand Rolling Tobacco, etc
