The Global Cigar Cutter Market Growth Accelerated by Rising Demand

 


Cigar cutter is a handheld tool used to neatly cut and punch a hole in the cigar to remove the cap and expose the tobacco filling prior to smoking. It helps to prevent loose tobacco pieces from spilling out.

The global Cigar Cutter Market is estimated to be valued at US$ 160.71 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising demand for premium cigars from established and emerging cigar smokers is driving the growth of the cigar cutter market size. The key factors fueling the demand include growing social acceptance of cigars, increasing popularity of premium and hand-rolled cigars among the high-income groups, and rising culture of cigar lounges and bars. According to a study, the number of cigar bars grew by 11% in the U.S. from 2016 to 2018, while the number of premium cigar smokers increased from 19 million to 21 million in the country over the same period. Moreover, innovations in terms of novel designs and additional features such as built-in ashtrays and punch cutters are expanding the application scope of cigar cutters, thereby supporting the market growth.


Segment Analysis
The global cigar cutter market is dominated by the household/retail segment. This segment accounted for more than 50% share of the overall market in 2024 as cigar cutters are widely used by households and individual consumers for personal use. The household/retail segment is expected to remain the dominant as well as the fastest growing segment during the forecast period due to increasing popularity of cigars among individuals for leisure activities and socializing.

Key Takeaways
The global cigar cutter market is expected to witness high growth over the forecast period of 2024 to 2031. The global Cigar Cutter Market is estimated to be valued at US$ 160.71 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.

Regional analysis:
North America currently dominates the global cigar cutter market and is expected to continue its dominance during the forecast period. The high demand and consumption of cigars in the US and Canada is driving the growth of the cigar cutter market in the region. Availability of wide range of cigar cutters catering to consumer needs further supports the market growth. Asia Pacific is expected to witness the fastest growth over the coming years. Increasing popularity of cigars and growing disposable incomes in countries like China and India are some factors propelling the regional market growth.

Key players:
Key players operating in the cigar cutter market are Olympus Corporation, GE Inspection Technologies (now part of Baker Hughes), 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 (now owned by Olympus Corporation), Coantec Automation Technology Co. Ltd., IT Concepts GmbH, Chongqing Weichuang Flextube Technology Co. Ltd. These players are focusing on new product launches and innovations to cater to the changing consumer preferences and strengthen their market presence.

Explore Our More Blogs Here: https://www.ukwebwire.com/cigar-cutter-market-share-and-opportunity-analysis/

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