Singapore: Cigars And Cigarillos Market 2024

Cigars And Cigarillos Market Size in Singapore

The Singaporean cigars and cigarillos market reduced modestly to $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Cigars and cigarillos consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cigars And Cigarillos Production in Singapore

In value terms, cigars and cigarillos production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 28%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Cigars And Cigarillos Exports

Exports from Singapore

In 2022, overseas shipments of cigars, cheroots and cigarillos decreased by -0.8% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 65% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, cigars and cigarillos exports totaled $X in 2022. Overall, exports, however, posted a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 50% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Cambodia (X tons) and Vietnam (X tons) were the main destinations of cigars and cigarillos exports from Singapore, together accounting for 68% of total exports. Thailand, Australia, Hong Kong SAR and the Philippines lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +28.7%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for cigars, cheroots and cigarillos exports from Singapore, comprising 43% of total exports. The second position in the ranking was held by Vietnam ($X), with a 20% share of total exports. It was followed by Hong Kong SAR, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+12.9% per year) and Hong Kong SAR (+12.7% per year).

Export Prices by Country

In 2022, the average cigars and cigarillos export price amounted to $X per ton, with an increase of 1.5% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in 2013 an increase of 124%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cigars And Cigarillos Imports

Imports into Singapore

Cigars and cigarillos imports into Singapore was estimated at X tons in 2022, increasing by 2% against 2021 figures. Over the period under review, imports posted resilient growth. The pace of growth appeared the most rapid in 2019 when imports increased by 143% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cigars and cigarillos imports amounted to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.9% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 49%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Italy (X tons) and Cuba (X tons) were the main suppliers of cigars and cigarillos imports to Singapore, with a combined 51% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +134.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X) constituted the largest supplier of cigars, cheroots and cigarillos to Singapore, comprising 33% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 12% share of total imports. It was followed by Hong Kong SAR, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Cuba was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+2.4% per year) and Hong Kong SAR (+59.3% per year).

Import Prices by Country

The average cigars and cigarillos import price stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 111%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Cuba ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :