Cigarillos and smoking tobacco benefited the most from a prolonged period of unchanged excise taxes on selling products in 2021. Retail volume sales of these products rose in 2021.
Cigars witnessed a slight drop in retail volume sales in 2021, suffering the most from the decreasing purchasing power of Slovak households as a result of the economic impact of the pandemic. Slovak smokers became more concerned regarding spending and traded down towards economy products such as cigarillos or smoking tobacco.
Cuban cigars lost share in 2021, not only because of being more expensive than most regular cigars, but more importantly because of a shortage of Cuban cigars in the country. Sluggish logistics and few smoking occasions for high-quality cigars were to blame for this situation.
Value growth rates for cigars, cigarillos and smoking tobacco are set to decelerate over the forecast period in Slovakia. The Slovak government has decided to increase excise taxes for all tobacco products including smoking tobacco and cigars/cigarillos in both 2022 and 2023.
In Slovakia, premium products such as large cigars are still going to be desired over the forecast period, despite weaker purchasing power among many households. Premium cigar smoking is heavily related to good smoking occasions and celebrations.
In the forecast period, the health aspect of smoking is likely to be increasingly discussed in Slovakia by both smokers and legislators in the country. Products that contain fewer harmful ingredients and premium quality tobacco are going to be increasingly sought out.
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Cigars, Cigarillos and Smoking Tobacco
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