As was the case throughout the review period, cigarillos was the best performing category within cigars, cigarillos and smoking tobacco in retail volume growth terms in 2021. While sales are still emerging from a relatively low base in Bosnia and Herzegovina, in recent years these products have gained popularity as an alternative to cigarettes among smokers seeking to reduce their overall consumption of tobacco for health reasons or to save money.
Cigars showed another impressive performance in 2021, with retail volume growth accelerating for a third consecutive year. In line with the ongoing expansion and evolution of the cigar smoking culture in Bosnia and Herzegovina, the category continued to benefit from rising demand for higher quality and more expensive varieties among aficionados.
In contrast to cigars and cigarillos, smoking tobacco recorded a decline in retail volume terms in 2021 due to falling demand in fine cut tobacco, the dominant category. This category saw volume sales contract consistently over most of the review period as steep price increases resulting from excise tax hikes led more smokers to buy cheaper illicit tobacco products.
Cigars is expected be the most dynamic performer within cigars, cigarillos and smoking tobacco in retail volume growth terms over the forecast period. This is partly because sales are emerging from a low base, as it will remain very much a niche area.
Retail volume sales of fine cut tobacco are projected to contract steadily throughout the forecast period. While this is partly due to the long-term trend of decline in smoking prevalence among the population, the negative outlook also reflects the likelihood that the threat this category faces from illicit trade will only intensify as further excise tax hikes drive up unit prices.
Pipe tobacco looks set to post healthy growth in retail volume sales over the forecast period. Population ageing in Bosnia and Herzegovina should help to lift demand for products used in traditional pipe smoking, as this activity is most common among older people, primarily older men.
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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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