Cigars in Peru - New Market Report

From: Fast Market Research, Inc.
Published: Fri Sep 19 2014

In Peru, there is no tradition for cigar smoking. These products carry extremely high prices, which limit their consumer base mostly to high-income men and most products are only available in Lima, Peru's capital. Moreover, cigars are considered a luxury to be consumed on special occasions. What is more, the bitter taste and large amount of smoke discourage potential consumers from trying them. Despite this, cigar lovers have an excellent knowledge of brands, flavours and sizes and they match smoking cigars with a whole culture. Due to the fact that demand of local consumers is very low, companies also target tourists, and in order to reach them, most tobacco specialists are located in the district of Miraflores, in Lima, a popular district for tourists to stay in when visiting the city. In addition, companies participating in this arena carry products with different price ranges, in an effort to appeal to a wider consumer base.

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Competitive Landscape

Vegas del Caribe remains the indisputable leader in the local market, with an 89% volume share in 2013, benefitting from being the exclusive distributor of the most popular cigar brands in the country and it specialises in Cuban cigars, the favourite type of cigars amongst knowledgeable consumers.

Industry Prospects

Volume sales of cigars are expected to increase at a CAGR of 4% over the forecast period, which is in line with the performance obtained over the review period. Higher disposable incomes and stronger product awareness amongst businessman will encourage some consumers to purchase this type of product.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Cigars industry in Peru with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Cigars industry in Peru, our research will save you time and money while empowering you to make informed, profitable decisions.

The Cigars in Peru market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth  
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Cigars in Peru?
* What are the major brands in Peru?
* What are the main distribution channels for cigars in Peru and which are performing well?

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You may also be interested in these related reports:

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- Cigars in Canada
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