Tobacco: Cigars Niche or Tomb?

Introduction

Scope

Key Findings - Key Global Market Constraints

Key Findings - Key Global Market Drivers

Cigar Market Overview

Cigars – Double Whammy

Cigar Concentration in Just Two Regions and Seven Countries

US Cigars – Downturn in the World’s Biggest Market

German Tax Changes Cause Global Underperformance

Impact of Public Smoking Bans on Cigars

The Rise of the Cigarette Branded Cigarillo

Growth in Flavoured Cigarillos and Small Cigars

New Product Developments – Price and Innovation

A Matter of Price – Cigarettes and Cigarillos

Cigar Market Price Trends Analysis – Major Differences

Tobacco Market Context and Outlook

Cigars in the Context of the Global Tobacco Products Market

Tobacco Market Outlook – Cigars are Slowest Sector

Market Drivers and Trends

Sectoral Trends in World Cigars Market 2007-2008

World Cigars Market Analysis by Sector

Product Development – Seeking Cigarette Smoker Appeal

The Regional Issue

Regional Imbalance – the Big Strategic Problem for Cigars

Per Capita Cigar and Cigarette Consumption per Annum 2008

Cigars per Capita – Regional Dominance

Cigars – Regional Growth Prospects Considered

Cigars Market Outlook – Still a Regional Market

Regional Trends and Country Case Studies

Cigarillos Drive European Volumes

Germany and the Rise and Fall and Rebirth of Eco-cigarillos

Germany – Hit by Smoking Ban and Legislation

Germany – Cigarette Branded Cigars

A Tale of Two Cigar Markets – Germany and the UK

UK Cigars – Not Playing the Price Advantage Game

Appeal to Switchers and Younger Aficionados in the UK

NPD in Cigarillos in the UK: the Cigarette-Cigarillo

Selling to the Connoisseur in the UK

France NPD – the Economy Cigarillo

France – Why Altadis Started a New Price Segment

Flavours and Limited Editions in Spain

Cigarillo Growth in Market for Connoisseurs – Italy

Local Brands and Manufacturing Make Italy Unique in the EU

Eastern Europe Cigar Market – Will the Growth Continue?

Russia – Cigarillos and a Touch of Luxury

Russia – Lower Forecast Growth for Cigars

North American Cigars – Setback but Still King of the Jungle

US Gloom and Doom in 2009 – What’s the Problem?

US Cigars – the Biggest Niche Market in the World

Big Companies Enter the US with their OTP Strategies

The US Cigars Market Outlook – Positive Outlook

Australia – Falls Forecast but Growth Platforms Exist

Latin America Cigar Market – Outlook Not Encouraging

Brazil – No Price Advantage for Cigarillos

Asia-Pacific Cigar Market – Unrealised Potential

India – The Hope of the Asia-Pacific Cigars Industry

India Cigars – Mass Market Plans

Middle East and Africa – Cigar Prospects Not Encouraging

South Africa – Cigar Sector in Decline

UAE – A Luxury Market Hit by Price Rise and Recession

Company Strategies

Global Cigar Manufacturers and their Leading Brands

Merger and Acquisition Activity Timeline 2007-2008

Imperial – Altadis Acquisition Brings Cigar Leadership

Imperial – Recession Impacts on Global Cigars

Global Cigar Brands – Concentration Trend

Premium Cigar Brands – Worrying Times

Conclusions

Cigars – What’s in Store for the Future?

Report Definitions

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