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Cigars - Gambia

Gambia
  • The Cigars market in Gambia is projected to generate a revenue of US$427.2k in 2024.
  • This market is anticipated to experience an annual growth rate of 2.30% (CAGR 2024-2029).
  • In comparison to other countries, United States leads in revenue generation with US$13bn in 2024.
  • On a per capita basis, the revenue generated in the Cigars market is estimated to be US$0.21 in 2024.
  • By 2029, the volume in the Cigars market is expected to reach 4.3m pieces.
  • Additionally, there is an anticipated volume growth of 0.2% in 2025.0.
  • The average volume per person in the Cigars market is forecasted to be 2.1pieces in 2024.
  • Gambia's cigar market is witnessing a surge in demand among tourists, driven by the country's reputation for producing high-quality, hand-rolled cigars.

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
Cigars: market data & analysis - Cover

Market Insights report

Cigars: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Price

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Analyst Opinion

    Cigars (including cigarillos) constitute a niche segment within the Tobacco Products market which, in recent years, has nevertheless attracted significant attention as a potential growth driver. Just as craft beers or premium spirits, cigars might buck the general secular trend of declining alcohol and tobacco volumes sales at large as sophisticated consumers might consume less in total but could at the same time be willing to spend more on each individual occasion to maximize indulgence.

    Sales Channels

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    The data encompasses B2C enterprises. Figures are based on consumer spending on Cigars.

    Modeling approach:

    The segment size is determined through a bottom-up approach. In order to analyze the markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as smoking rates, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing and regression analysis. The selection of forecasting techniques is based on the behavior of the relevant market.

    Additional notes:

    The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.

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    Cigars: market data & analysis - BackgroundCigars: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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