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Cigars sales rise 24% on elite image
By Emily Ford |
March 5, 2012, Monday
|
Online Edition
Online Edition
SALES of cigars soared 24 percent on the Chinese mainland last year as consumers are developing a taste for premium smoking, according to unpublished figures from a leading research firm.
Some 376 million packets of cigars were sold last year in China, with small cigars being the bestselling product, rising 31 percent annually, according to exclusive data from Euromonitor International.
Analysts say that as disposable incomes rise, cigars are seen by many as an affordable luxury 鈥 replacing cheaper cigarettes in the affections of many smokers.
Nicole Teng, Analyst China at Euromonitor, said the penetration of Western culture in China has helped cigars grow into a popular trend with business people as well as the wealthy.
However, smoking bans and a growing awareness of a healthy lifestyle means that growth in cigar sales is expected to slow in the coming years to a compound annual rate of 14 percent over the next five years.
"Though cigars have been redeemed as a mark of high social status and widely welcomed in first tier cities in China, the concept of a healthy lifestyle is gradually being paid more attention by the public. Thereby the annual growth rate of cigar sales in China is forecasted to be slightly lower than previous years," Teng explained.
Some 376 million packets of cigars were sold last year in China, with small cigars being the bestselling product, rising 31 percent annually, according to exclusive data from Euromonitor International.
Analysts say that as disposable incomes rise, cigars are seen by many as an affordable luxury 鈥 replacing cheaper cigarettes in the affections of many smokers.
Nicole Teng, Analyst China at Euromonitor, said the penetration of Western culture in China has helped cigars grow into a popular trend with business people as well as the wealthy.
However, smoking bans and a growing awareness of a healthy lifestyle means that growth in cigar sales is expected to slow in the coming years to a compound annual rate of 14 percent over the next five years.
"Though cigars have been redeemed as a mark of high social status and widely welcomed in first tier cities in China, the concept of a healthy lifestyle is gradually being paid more attention by the public. Thereby the annual growth rate of cigar sales in China is forecasted to be slightly lower than previous years," Teng explained.
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