The latest market report published by Credence Research, Inc. “Global Luxury Cigarette Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Luxury Cigarette Market generated revenue of around USD 40.75 billion in 2020 and is anticipated to grow at a CAGR of over 7.49% during the forecast period from 2021 to 2027 to reach around USD 78.55 billion in 2027. While, cumulative growth opportunity presented by the global Luxury Cigarette is around USD 458 billion during 2021 to 2027.
Global Luxury Cigarette Market, 2020 – 2027 (USD Million)
Cigarettes itself are luxury products. However, Luxury Cigarettes offer a next level of experience to the users. Although smoking is injurious to health there are hundreds of million people actively smoking across the world. Luxury Cigarette are highly expensive and one pack of Luxury Cigarette can cost as high USD 75. The total cigarettes sales reached over 65 trillion a year.
Rising Disposable Income
High net worth people are growing across the world. Of course they need luxury experience in each aspect of life. As smoking is growing in popularity among these people the demand for Luxury Cigarette is on the rise. Smoking cigarette is one of the best ways to relive stress according most of the people who smoke. Hence, the demand for Luxury Cigarette is growing with increasing wealth.
Men Dominated Luxury Cigarette Demand
Global Luxury Cigarette market is classified into men and women. Men dominated the demand for Luxury Cigarette with over 70% share in the total revenue generation. However, smoking in women population is on the rise.
Adverse Health Effects
There are serious health issues associated with the smoking. Lung cancer is one of the most predominantly found cancer in people who actively smoke. With growing awareness among end-users regarding ill effects of smoking the demand Luxury Cigarettes is expected to be affected.
Low Tar Luxury Cigarette are growing in Popularity
Tar content in cigarettes is one of the major concerns for the smokers. High content of tar causes various adverse effects on lungs of human. This has forced manufacturers and consumers towards low tar Luxury Cigarette. Considering the impact on health, end-users are increasingly shifting towards low tar Luxury Cigarette.
Some of the major companies operating in the global Luxury Cigarette market include Japan Tabacco, Alliance One International, R.J. Reynolds, Imperial Tobacco Group, CHINA TOBACCO, Altria Group, British American Tobacco, Universal, KT&GPT Gudang Garam Tbk and Donskoy Tabak.
Global Luxury Cigarette Market by Type, 2015 – 2027
- Low Tar
- High Tar
Global Luxury Cigarette Market by Distribution Channel, 2015 – 2027
Global Luxury Cigarette Market by Company, 2015 – 2027
- CHINA TOBACCO
- Altria Group
- British American Tobacco
- Japan Tabacco
- Imperial Tobacco Group
- Alliance One International
- J. Reynolds
- PT Gudang Garam Tbk
- Donskoy Tabak