Latin America and the Caribbean: Cigars And Cigarillos Market 2024

Cigars And Cigarillos Market Size in Latin America and the Caribbean

The Latin American cigars and cigarillos market dropped to $X in 2022, reducing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Cigars And Cigarillos Production in Latin America and the Caribbean

In value terms, cigars and cigarillos production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Cigars And Cigarillos Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of cigars, cheroots and cigarillos decreased by X% to X tons for the first time since 2013, thus ending a eight-year rising trend. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2013 indices. The growth pace was the most rapid in 2015 when exports increased by X%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, cigars and cigarillos exports dropped slightly to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

The Dominican Republic represented the main exporter of cigars, cheroots and cigarillos in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Nicaragua (X tons), generating a X% share of total exports. The following exporters - Honduras (X tons) and Cuba (X tons) - each reached a X% share of total exports.

The Dominican Republic was also the fastest-growing in terms of the cigars, cheroots and cigarillos exports, with a CAGR of X% from 2012 to 2022. At the same time, Nicaragua (X%) displayed positive paces of growth. Cuba experienced a relatively flat trend pattern. By contrast, Honduras (X%) illustrated a downward trend over the same period. While the share of the Dominican Republic (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cuba (X p.p.) and Honduras (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) remains the largest cigars and cigarillos supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Nicaragua ($X), with a X% share of total exports. It was followed by Cuba, with a X% share.

In the Dominican Republic, cigars and cigarillos exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nicaragua (X% per year) and Cuba (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (X%), while the other leaders experienced more modest paces of growth.

Cigars And Cigarillos Imports

Imports in Latin America and the Caribbean

Cigars and cigarillos imports contracted to X tons in 2022, waning by X% compared with 2021. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, cigars and cigarillos imports reduced to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Cuba represented the main importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Honduras (X tons), Nicaragua (X tons) and Brazil (X tons), together committing a X% share of total imports. Argentina (X tons), the Dominican Republic (X tons) and Bahamas (X tons) followed a long way behind the leaders.

Imports into Cuba increased at an average annual rate of X% from 2012 to 2022. At the same time, Nicaragua (X%) and Bahamas (X%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Argentina (X%), Brazil (X%), Honduras (X%) and the Dominican Republic (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cuba and Nicaragua increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Honduras ($X), Cuba ($X) and Nicaragua ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Nicaragua, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Bahamas ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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