In 2021, the government raised the excise duty to comply with the EU minimum level after many years of delay, which caused a significant increase in smoking tobacco retail prices. The 2-step excise tax increase also affected fine cut tobacco, although its tax component already complied with the requirements.
The cigar market in Hungary is developing, with more and more brands present despite the anti-smoking efforts in the country. The premium segment is developing and growing the most.
In fine cut tobacco, MYO is still the most popular. Users buy large packs and fill tubes at home to carry with them in cigarette boxes.
Compared to 2021, the value growth of cigars, cigarillos and smoking tobacco will be stronger in forecast period. In 2022, inflation is stronger, and manufacturers and distributors have to defer rising costs to consumers.
As cigarillos will remain a high-volume product in the forecast period, frequent product development and launch of new products could be key to gaining share. Cigarillos will be increasingly popular in the price-sensitive segments of the Hungarian market.
The higher income segments in Hungary are not likely to suffer from the tightening of the economy, therefore premium cigar, cigarillo and pipe tobacco sales are not yet threatened. These categories will continue to benefit from the ongoing premiumisation trends at the high end of the market.
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Understand the latest market trends and future growth opportunities for the Cigars, Cigarillos and Smoking Tobacco industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Cigars, Cigarillos and Smoking Tobacco industry in Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cigars, Cigarillos and Smoking Tobacco
This report originates from Passport, our Cigars, Cigarillos and Smoking Tobacco research and analysis database.
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