Latin America and the Caribbean: Cigars And Cigarillos Market 2025

Cigars And Cigarillos Market Size in Latin America and the Caribbean

The Latin American cigars and cigarillos market contracted modestly to $X in 2022, which is down by -2% against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2022.

Cigars And Cigarillos Production in Latin America and the Caribbean

In value terms, cigars and cigarillos production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 10%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Cigars And Cigarillos Exports

Exports in Latin America and the Caribbean

In 2022, exports of cigars, cheroots and cigarillos in Latin America and the Caribbean contracted to X tons, reducing by -13% on the previous year's figure. Overall, exports, however, enjoyed tangible growth. The growth pace was the most rapid in 2021 when exports increased by 38%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, cigars and cigarillos exports declined to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +89.7% against 2012 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

The Dominican Republic represented the largest exporting country with an export of about X tons, which finished at 56% of total exports. It was distantly followed by Nicaragua (X tons), Honduras (X tons) and Cuba (X tons), together creating a 44% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nicaragua (with a CAGR of +5.9%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the Dominican Republic ($X) remains the largest cigars and cigarillos supplier in Latin America and the Caribbean, comprising 50% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 22% share of total exports. It was followed by Cuba, with a 19% share.

In the Dominican Republic, cigars and cigarillos exports expanded at an average annual rate of +7.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nicaragua (+12.4% per year) and Cuba (+2.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 8% against the previous year. Over the period under review, the export price saw a noticeable increase. The growth pace was the most rapid in 2019 when the export price increased by 90%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while Nicaragua ($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 (+6.1%), while the other leaders experienced more modest paces of growth.

Cigars And Cigarillos Imports

Imports in Latin America and the Caribbean

After two years of growth, purchases abroad of cigars, cheroots and cigarillos decreased by -4.3% to X tons in 2022. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, imports attained the peak of X tons, and then dropped modestly in the following year.

In value terms, cigars and cigarillos imports fell to $X in 2022. Over the period under review, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by 51% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Cuba represented the major importer of cigars, cheroots and cigarillos in Latin America and the Caribbean, with the volume of imports recording X tons, which was near 40% of total imports in 2022. It was distantly followed by Honduras (X tons), Nicaragua (X tons), Brazil (X tons) and the Dominican Republic (X tons), together achieving a 43% share of total imports. Argentina (X tons) and Panama (X tons) held a minor share of total imports.

Imports into Cuba increased at an average annual rate of +78.1% from 2012 to 2022. At the same time, Nicaragua (+93.9%) and the Dominican Republic (+5.6%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +93.9% from 2012-2022. By contrast, Brazil (-2.5%), Honduras (-2.8%), Argentina (-2.8%) and Panama (-10.6%) illustrated a downward trend over the same period. Cuba (+39 p.p.) and Nicaragua (+15 p.p.) significantly strengthened its position in terms of the total imports, while Argentina, Brazil, Panama and Honduras saw its share reduced by -4.2%, -8.7%, -10.4% and -24.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Honduras ($X), Cuba ($X) and Nicaragua ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 53% of total imports.

Nicaragua, with a CAGR of +109.2%, saw the highest rates of growth with regard to the value of imports, among 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, waning by -3% against the previous year. In general, the import price recorded a mild slump. The pace of growth was the most pronounced in 2015 when the import price increased by 21% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Argentina ($X per ton), while Cuba ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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