May 17, 2024
Cigar Cutter Market

The Global Cigar Cutter Market Is Driven By Increasing Disposable Income

Cigar cutters are commonly used tools designed to cleanly and evenly cut the head of cigars before lighting and smoking. They help prevent loose tobacco from spilling out and provide a clean cut. Premium cigar cutters consist of high-quality metal or hardwood construction for longevity and feature blades engineered for precision cuts. Cigars have grown in popularity among connoisseurs for their full-bodied flavors and aromas. The global cigar market has witnessed substantial growth in recent years, driven by rising disposable incomes and increasing social acceptability of smoking cigars. The growth of cigar lounges and bars has further fueled the demand for functional and aesthetically pleasing cigar accessories including cutters.

The global Cigar Cutter Market is estimated to be valued at US$ 139.5 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the cigar cutter market is the growing demand for premium and customizable cutters. Manufacturers are focusing on producing innovative products crafted from premium materials to appeal to cigar aficionados looking for functional yet distinctive cigar accessories. For example, companies offer customizable cutters engraved with names, logos, or special messages. Dual-bladed cutters allowing varied types of cuts for different cigars have also gained popularity. Increased availability of cigar cutters in single unit packaging targeted for gifting on special occasions such as Father’s Day has further boosted sales. Moreover, the emergence of online retail has made premium cutters accessible to a wider customer base globally

Porter’s Analysis

Threat of new entrants: The threat is moderate as manufacturers require specialized equipment and skilled labor to manufacture cigar cutters. However, the costs are not very high.
Bargaining power of buyers: The bargaining power of buyers is high as cigar cutters are commodity products and there are numerous manufacturers offering similar products at competitive prices. Buyers can easily switch to alternative brands.
Bargaining power of suppliers: The bargaining power of suppliers is low as the raw materials required for cigar cutters such as metals are commodity and available from numerous suppliers.
Threat of new substitutes: The threat is low as there are limited substitute products for cigar cutters.
Competitive rivalry: The competition is high among the existing players due to presence of numerous branded and generic manufacturers.

Key Takeaways

The Global Cigar Cutter Market Demand is expected to witness high growth.

Regional Analysis: The North America region currently dominates the market and is expected grow at a moderate rate during the forecast period. Factors such as rising number of cigar enthusiasts and social usage of cigars in cocktail parties and social gatherings are expected to drive the regional market.

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 expansion in growing markets to gain higher market shares.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it