In sharp contrast to cigarettes, retail volume sales of cigars and particularly cigarillos continued to expand during 2021. Demand the cigarillos continued to be boosted by the ban on sales of menthol cigarettes, which was introduced in 2020.
While the rate of growth in retail volume sales of fine cut tobacco slowed to single digits during 2021, it remained robust. The main driver of this growth has been successive hikes in the excise duty levied on cigarettes, which has led a growing number of local consumers to seek out cheaper alternatives, such as fine cut tobacco.
Demand for pipe tobacco is in long-term decline, with retail volume sales continuing to fall in 2021. Pipe tobacco is mainly consumed by the older generation, with younger consumers exhibiting relatively limited interest in it.
The rate of growth in retail volume sales of fine cut tobacco will slow significantly during 2022 and remain sluggish for the remainder of the forecast period. On one hand, rising excise tax on tobacco products will drive some smokers to cheaper RYO cigarettes.
Cigarillos will continue to perform relatively well during the forecast period. Manufacturers will continue to focus more on flavoured cigarillos, introducing new flavour variants targeted at former smokers of menthol-flavoured or other-flavoured cigarettes.
Pipe tobacco and cigars have less potential than cigarillos over the forecast period. While pipe tobacco will remain unappealing to new generations of smokers, cigars will continue to have a more limited consumer base, given that they are relatively expensive in comparison with other types of tobacco.
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Cigars, Cigarillos and Smoking Tobacco
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