Market Report, "Cigars in Hong Kong, China", published

Cigars are considered a luxury tobacco product. In the past, most cigar smokers were older consumers with higher purchasing powers; however, the launch of some small cigars and cigarillos led to these products becoming more appealing to young adult smokers. Firstly, manufacturers offered slimmer cigars with a trendier and smarter appearance. Secondly, being smaller products, small cigars and cigarillos are priced much lower than large and standard cigars. This results in small cigars and cigarillos being more affordable to consumers. Lastly, some cigarillos are available with sweet flavourings, which makes them more attractive to young adult smokers. As a result, the average age of a cigar consumer is becoming lower; however, the level of sales of cigars was still very low in 2013, accounting for only a marginal volume share of total tobacco volume sales and a 9% value share. Cigar users only represented 1% of all smokers as at the end of the review period.

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Competitive Landscape

Pacific Cigar Co is the exclusive distributor of all Cuban cigars in Asia Pacific and manages all wholesaling for Cuban cigars. In June 1992, these distribution rights were granted by Habanos Sociedad Anonima (Habanos S.A.) the only Cuban enterprise authorised to export the well-known Havanas from Cuba. In addition to its wholesale team, the company is also the leading cigar retailer in Asia Pacific. In Hong Kong, it operates 11 cigar specialty stores, whilst three of these are run in form of partnerships.

Industry Prospects

Over the forecast period, retail volume sales of cigars are anticipated to grow at a CAGR of only 1% to reach 12 million sticks, while sales are set to grow at a CAGR of 1% at constant 2013 prices to reach HK$705 million in 2018. Both expected growth rates are lower than those registered over the review period. Following the increasing popularity of cigarillos and a declining preference for large cigars, cigarillos is predicted to record the strongest growth at a CAGR of 1% in retail volume terms over the forecast period, while large cigars is set to record the weakest growth at a marginal CAGR.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Cigars industry in Hong Kong, China 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 Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Cigars in Hong Kong, China market research report includes:

* Analysis of key supply-side and demand trends

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