Cuba Tobacco Market Sees Increasing Demand, States Euromonitor in Its Topical Report Published at MarketPublishers.com
01 Sep 2017 • by Natalie Aster
LONDON – There is rising demand for Cuban cigars from tourists, with tobacco also reaping benefits from an expanding local middle-income class. Tobacco harvests, however, were influenced by inefficiency and bad weather conditions during 2015-2016, leading to sluggish sales growth. Sales over the projected period are expected to be positively impacted by solid investment in increasing production capacity and enhancing quality. The country’s cigarette demand is projected to be restrained by health concerns and anti-smoking measures but tourists will likely boost cigar sales growth.
Tobacco is increasingly vital for the country’s economy, with demand for domestic cigars skyrocketing. This was mainly owing to a removal of monetary restrictions for US travelers, and robust tourism growth. Furthermore, there was a hike in the number of flights into the island from all over the world.
Cubans are, though, also increasingly concerned about the health issues associated with smoking and passive smoking. Among heavy smokers there are 10% of cigarette smokers smoking more than 20 sticks daily. Passive smoking is a particular problem, with 51% of pregnant women, 55% of children and 60% of adolescents being regularly impacted by passive smoking as of 2015. There is also surging concern over a fast increase in underage smoking.
Topical research report “Tobacco in Cuba” elaborated by Euromonitor draws up a comprehensive picture of the market for tobacco on a national level.
The study provides an analysis of the market structure and size, uncovers the latest market trends and discusses the projected market growth for the domestic tobacco industry. The report provides granular segmentation of international and domestic products, identifies the most rapidly growing market segments and major factors driving change. It includes data on the production, exports by destination and imports by origin. The study uncovers the hidden opportunities in the market and provides an understanding of competitive threats, examines the overall competitive scenario and profiles the leading players. The report includes historical values and volumes, company and brand shares, and distribution data.
Visit Euromonitor International page at MarketPublishers.com to find a full collection of the publisher’s market research reports.