Cigars, cigarillos and smoking tobacco suffered double-digit volume decline during the 2020 COVID-19 restrictions. In 2021, there was some recovery in cigars and cigarillos, though volume sales were still well below pre pandemic levels.
Vegas del Caribe maintained its significant lead in cigars, cigarillos and smoking tobacco in 2021, thanks to the success of its leading Partagás, Montecristo, Cohiba, Romeo y Julieta and Bolívar brands, in consecutive first to fifth brand places.
A factor that has impeded the recovery of cigars is increased illicit trade in 2021. As a consequence of the economic recession caused by the pandemic, neighbouring countries such as Argentina devalued their currencies, while Bolivia has not changed its exchange rate since 2011.
Cigars and cigarillos will register minimal volume growth over the forecast period, and smoking tobacco will see further volume decline. Illicit trade will continue to dampen volume sales, as Bolivia’s stable currency in contract with devaluations in neighbouring countries, will make cigars, cigarillos and smoking tobacco even more expensive compared with neighbouring countries and as a result, many local consumers will be receptive to much cheaper smuggled goods.
Overall, cigars, cigarillos and smoking tobacco see low levels of consumption in Bolivia and this is not expected to change over the forecast period.
A possible segment for growth is flavoured cigars and cigarillos. While there are currently limited offerings of flavoured products in Bolivia, some of the recent contraband has been flavoured and certain consumers have developed a taste for it.
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Cigars, Cigarillos and Smoking Tobacco
This report originates from Passport, our Cigars, Cigarillos and Smoking Tobacco research and analysis database.
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