Research Methodology – Cigar Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Cigar Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Cigar Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share
- Current and projected consumer demand for cigars
- Number of cigar manufacturers and retailers in the market
- Market entry barriers for new entrants
- Regulation and taxation policies affecting the cigar industry
- Substitution threats from other tobacco products like cigarettes, vape pens, etc.
- Rising health awareness and changing consumer preferences
- Price trends for raw materials such as tobacco, leaf wraps, etc.
- Impact of any geopolitical issues affecting supply or demand
Key Market Indicators
- Overall sales volume and revenue of the cigar industry
- Market share distribution among key players
- Consumer expenditure on cigars in specific markets
- Sales channel distribution (online vs offline, direct vs distributor)
- Demographic data of cigar consumers (age, income level, ethnicity etc.)
- Degree of market penetration and saturation
Growth Trends
- Trends towards premium and flavored cigars
- Growth of online sales platforms for cigars
- Expansion in developing nations due to rising disposable income
- Technological advancements in production and distribution
- Influence of tobacco control regulations on market growth
- Impact of celebrity endorsements and other marketing strategies on sales
- Switch in consumer preference for organic or natural cigars
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Cigar Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Cigar Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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