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The increasing consumption of tobacco among millennials are expected to drive innovation in luxury cigars manufacturing, thus driving the market during the forecast period.

The global luxury cigars market is expected to grow from $12.72 billion in 2022 to $12.13 billion in 2023 at a compound annual growth rate (CAGR) of -4.6%. The luxury cigars market is expected to grow from $11.26 billion in 2027 at a CAGR of -1.8%.

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Global Luxury Cigars Market Segments Include:

• By Type: Machine-made Cigars, Handmade Cigars
• By Shape: Parejo Cigars, Figurado Cigars
• By Flavor: Tobacco/No Flavor, Flavored
• By Application: Male Smokers, Female Smokers
• By Distribution Channel: Online, Offline
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global luxury cigars market in 2021.

Major Market Players in the luxury cigars market include Imperial Brands, Swedish Match, Swisher International, Scandinavian Tobacco Group, Agio Cigars, China Tobacco, Regius Cigars Ltd., Gurkha Cigar Group.

Technological advancements have emerged as a key trend gaining popularity in the luxury cigars market. Major companies operating in the luxury cigars sector are focused on developing new technological solutions to reinforce their position. For instance, in September 2021, HumidifGroup USA, a US-based company specializing in the fabrication and design of accessories and packaging for the cigar sector, launched Ferio Tego Cigar Co based on Smart packaging technology. With a simple swipe of the phone, smart packaging immerses the end-user in information, sleek movies, and education.

The Luxury Cigars Global Market Report 2023 provides a luxury cigars market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The luxury cigars market forecast analyzes luxury cigars market size, luxury cigars market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A luxury cigar is a tobacco leaf bundle that has been fermented, dried, and rolled into a royal, sumptuous, cylindrical shape for smoking. These cigars are 7 inches long and contain 5 to 20 grams of tobacco. It is created completely by hand from all-natural tobacco leaf, manually built, and wrapped.

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