The India cigar and cigarillos market comprises tobacco rolled in paper for smoking. Premium cigars are made entirely from whole tobacco leaves whereas cigarillos contain plants other than tobacco, such as fruit or spice flavors. Cigars deliver nicotine through smoke just like cigarettes. They are available in various sizes and flavors and consumed for relaxation and socializing purposes.
The global India Cigar And Cigarillos Market is estimated to be valued at Us$ 3659.92 Bn in 2023 and is expected to exhibit a CAGR Of 10% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The India cigar and cigarillos market is witnessing high growth owing to increasing disposable income. According to World Data, India's real GDP per capita increased from US$1,888.24 in 2014 to US$2,104.16 in 2019. Rising disposable income has increased spending power among consumers to spend on luxury items like cigars and cigarillos. Further, changing lifestyle and rising culture of socialization are fueling the growth of cigar lounges and bars, thereby propelling the demand for cigars and cigarillos in India. Easy availability through various distribution channels like convenience stores, specialty stores and online platforms has further augmented the market growth over the forecast period.
SWOT Analysis
Strength: The India cigar and cigarillos market has a large consumer base given India's population of over 1.3 billion people. Long working hours and stressful lifestyles have led to increased tobacco consumption. Premium international brands available in India also strengthen the market. Government initiatives to promote tourism are increasing the disposable incomes of people which is raising the demand for cigars and cigarillos in India.
Weakness: High taxes imposed on cigars and cigarillos in India make these products expensive. Increased health awareness among Indians is reducing tobacco consumption. Strict regulations and anti-tobacco campaigns are major challenges faced by players in this market.
Opportunity: The e-cigar segment is witnessing growth in India as it is considered a safer alternative to traditional cigars. Premiumization trend in the country represents an opportunity for high-end international cigar brands. Growing socializing and partying culture especially in urban India is supporting the market expansion.
Threats: Ban on public smoking and pictorial warnings on tobacco product packs can dampen the demand. Rising air pollution levels in major Indian cities may deter people from smoking in public. Strong competition from loose cigarettes, bidis and other cheaper tobacco alternatives also threatens the market.
Key Takeaways
The Global India Cigar And Cigarillos Market Demand is expected to witness high growth.
Regional analysis:
The western region currently dominates the India cigar and cigarillos market due to high disposable incomes and consumption of imported brands in cities like Mumbai and Delhi. Southern states like Karnataka and Kerala are also growing rapidly for cigars on account of higher spending power and standard of living.
Key players operating in the India cigar and cigarillos market are Acuity Brands Lighting Inc., Cree Lighting, Dialight, Digital Lumens Inc., Hubbell, LSI Industries Inc., LumiGrow, Panasonic Corporation, Siteco GmbH, Signify Holding, Semiconductor Co. Ltd., Zumtobel Group Ag. Acuity Brands Lighting Inc. is a leading player with widespread distribution network across India. Cree Lighting also has a substantial presence specialized in LED lighting solutions.
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