South Korea Cigars and Cigarillos Market Research Report, 2028

South Korea's market for cigars and cigarillos displays an intriguing tapestry of cultural traditions, changing consumer preferences, and a rising interest in premium tobacco goods. The cigar industry in South Korea, a country renowned for both its rich cultural past and contemporary metropolitan lifestyle, is a special synthesis of the old and the new. The country's shifting customer demographics are one of the major factors boosting the growth of the cigars and cigarillos business in South Korea. Traditional cigars have a long history of being linked with older generations that value smoking's timeless elegance, but cigarillos have recently gained popularity among younger, more daring users. Cigarillos are a popular option for a generation that seeks novelty and convenience due to their moderate flavors and small size. Exclusive cigar lounges and bars have grown in popularity in major South Korean cities like Seoul. These places create an oasis of luxury within the busy metropolitan scene by offering enthusiasts an elite setting in which to enjoy their cigars. These places frequently provide a carefully chosen assortment of cigars, a wide range of alcoholic beverages, and a soothing atmosphere that beckons customers to unwind and enjoy the experience. Taxation has a considerable impact on the market and is levied on tobacco goods, including cigars and cigarillos. These taxes have two functions: they raise money for the government and discourage smoking by raising the cost of tobacco products. Consumers face difficult pricing environments as a result of this fiscal strategy, but it also aligns with public health goals. South Korea has also seen the cultivation of local cigar manufacturers and brands, adding a unique touch to the market. These brands may incorporate locally sourced tobacco, which not only adds a distinct character to their products but also connects the South Korean market to the nation's agricultural heritage. According to the research report "South Korea Cigars and Cigarillos Market Overview, 2028," published by Actual Research, the South Korea Cigars and Cigarillos market is expected to add more than USD 100 Million from 2023 to 2028. A wide range of consumers, from elder generations who value the classic elegance of traditional cigars to younger, more daring smokers who prefer the mild flavors and convenience of cigarillos, are drawn to the South Korean market. Because it can accommodate a wide range of consumer tastes and demographics, the market is adaptable and all-inclusive. South Korea provides a wide variety of cigar and cigarillo options, including both internationally recognized brands and domestically made substitutes. Premium cigars that are imported from nations like Cuba and the Dominican Republic mix with locally produced brands to create a distinctive fusion of domestic and international options. In South Korea, cigars and cigarillos play a crucial role in establishing social and professional contacts. They are frequently discussed during official meetings and casual get-togethers, promoting dialogue and connection development. The "Korean Wave," also known as Hallyu, has had an impact on South Korean society in many ways, including consumer choices. The Korean entertainment industry and K-pop may have an impact on cigar brand preferences and smoking habits. Throughout the year, South Korea conducts a wide range of cultural festivals and events. These events occasionally include cigar-related activities, such as cigar tastings, giving lovers a chance to get together and share their enthusiasm. South Korea's growing interest in health and wellness trends influence the market. Some consumers seek cigars that align with wellness concepts, such as cigars with natural or herbal flavorings.

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Based on type market is segmented into cigars, cigarillos and little cigars. There is rising demand for cigarillos in South Korea. Comparing cigarillos to regular cigars, the flavor profile of cigarillos is often milder and more accessible. The mild flavor of cigarillos appeals to smokers in South Korea who may find the powerful tastes of conventional cigars to be too intense. This country's consumer base is broad and includes younger and more health-conscious smokers. Compared to full-sized cigars, cigarillos are more portable and smaller. They take less time to smoke, which makes them perfect for people with busy schedules or those who like a quick and hassle-free smoking experience. Cigarillos can come in a variety of flavors, including coffee, menthol, fruit, and more. South Korean consumers can explore various flavors and smells thanks to this diversity, which gives products a more original and customized feel. Based on flavor market is divided into tobacco/ no flavored and flavored. Non-flavored cigars and cigarillos are often associated with a more sophisticated and classic smoking experience. South Korean consumers who appreciate the elegance and ritual of cigar smoking are drawn to the authenticity and depth of flavor offered by non-flavored options. Non-flavored cigars are sometimes favored by collectors and connoisseurs who appreciate the purity of the tobacco. Some individuals may collect and age non-flavored cigars to savor the changes in flavor and aroma that occur over time, creating a unique and personalized collection. Based on price range market is divided into mass and premium. Premium price range is predicted to lead the market of South Korea. Affluent and discriminating consumers in South Korea have a high regard for high-end and luxury goods. This also applies to the tobacco industry, where customers are willing to spend more on premium cigars and cigarillos that provide an exceptional smoking experience. The perception of premium cigars and cigarillos as exclusive and expensive is common. These products' exclusivity appeals to customers looking for unusual and upscale experiences. Premium cigars are considered collectible products by some South Korean customers. As a hobby, they buy fine cigars and age them, enjoying the subtle changes in flavor and scent that occur over time. This collectible quality heightens the appeal of premium choices. Based on distribution channel market include speciality store, hypermarket/supermarket, convenience stores, online and others. Convenience stores are ubiquitous in South Korea, with a high density of stores in urban and suburban areas. This extensive network ensures that consumers have easy access to cigars and cigarillos no matter where they are located, making it a convenient option for purchasing tobacco products. Convenience stores are strategically located near residential areas, business districts, transportation hubs, and universities. This proximity ensures that consumers can easily stop by a convenience store on their daily commute or errands to pick up tobacco products. Convenience stores often have age verification measures in place to ensure that tobacco products are not sold to underage individuals. This helps enforce legal regulations and promotes responsible tobacco consumption. Considered in this report: • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Praveen Kumar

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Aspects covered in this report: • South Korea Cigars and Cigarillos market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type: • Cigars • Cigarillos • Little Cigars By Flavor: • Tobacco/ No Flavor • Flavored

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By Price Range: • Mass • Premium By Distribution Channel: • Speciality Store • Hypermarket/supermarket • Convenience Stores • Online • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Cigars and Cigarillos industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.