by The global Cigar Cutter Market is estimated to be valued at US$ 139.5 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Cigar cutters are a must-have tool in every cigar aficionado’s collection that allow cutting the tip cleanly to release smoke and aromas smoothly. They help cut the cigar to preserve its flavor and shape. The devices are increasingly being preferred by millennial and Gen Z population for leisure activities and social events driving the market growth.
Market key trends:
The cigar cutter market is witnessing robust growth driven by increased popularity among younger demographics such as millennials and Gen Z. These age groups are adopting cigar smoking and accessorial products as a leisure activity and are driving innovation in product offerings. With rising cultural acceptance of cigar smoking, these demographics are socializing over cigars like their predecessors. Leading market players are focusing on developing novel, portable and stylish cigar cutter designs targeted toward younger consumers attracting their interest in premium accessories. Moreover, the proliferation of lounges, clubs and bars catering exclusively to cigar aficionados have made cigar smoking a social experience further augmenting the demand. Manufacturers are expected to benefit from innovative marketing strategies and strong e-commerce promotion to tap into this evolving demographic propelling the overall cigar cutter market expansion
SWOT Analysis
Strength: Cigar cutters offers convenience of cutting cigars evenly without damaging the cigar. This helps smokers enjoy consistent taste throughout the cigar.
Weakness: Manual cigar cutters require some precision and practice to properly cut cigars without damaging the wrapper of cigar. This can be inconvenient for novice cigar smokers.
Opportunity: Growth in premium cigar consumption globally presents an opportunity to sell more units of cigar cutters. Innovation in automatic and electric cigar cutters can further boost the market.
Threats: Strict regulations on tobacco products usage and advertisements in several countries can limit the growth potential of cigar market and associated products like cigar cutters. Health awareness related to cigars can reduce their consumption over time.
Key Takeaways
The Global Cigar Cutter Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 139.5 Mn by 2024, expanding at a CAGR of 6.5% during the forecast period.
Regional analysis: North America region currently dominates the cigar cutter market, accounting for over 35% share owing to large base of cigar connoisseurs in the US. The Asia Pacific region is expected to witness fastest growth due to increasing popularity of premium cigars among high income individuals in China and Japan.
Key players: Key players operating in the cigar cutter market are Olympus Corporation, GE Inspection Technologies, Karl Storz GmbH & Co. KG, SKF Group, FLIR Systems Inc., Yateks Corporation, PCE Instruments, Vizaar Industrial Imaging AG, VJ Technologies Inc., Gradient Lens Corporation, Medit Inc., RF System Lab, Coantec Automation Technology Co. Ltd., IT Concepts GmbH, and Chongqing Weichuang Flextube Technology Co. Ltd. These companies are focusing on development of innovative and automated cigar cutters to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
