As warmth and ties between US and Cuba grows, Cuba is expected to witness a rise in demand for its agricultural exports. Tobacco is one of the main crop grown in Cuba. The crop has its colonial legacy when Spanish King introduced tobacco in Cuba for the first time during 17th century. Today Cuba’s cigars are popular and famous all round the world. The growing trade ties with US is expected to boost export demand of Cuban tobacco industry.
Cuba is the largest Caribbean island and the Tobacco Industry is Cuba's third largest export sector. Pinar del Rio province is the major tobacco growing region in Cuba known for its unique characteristic. Tobacco from the island nation is globally recognized as some of the world's best. United Sates offers big market for Cuban Tobacco industry. Given that trade restrictions have been liberalized and high geographical proximity with USA, the Cuban tobacco export to USA is expected to start growing. The demand for Cuban tobacco is expected to grow at a CAGR of 9.5 percent for next 5 years.
Currently, the sale of Cuban cigars is illegal in USA. However, the nation has remained the world's biggest consumer of Cuban cigars (most of them were imported illegally). As trade restrictions and bans are withdrawn, formal and legal ways of trading is expected to grow. Many importers and exporters of Cuban tobacco are eyeing US markets.
Major cigar-producing nations include Honduras, Mexico and Ecuador is expected to compete with Cuba. These nations already have established market and it may be difficult for Cuban Cigars to find space initially. Given special and luxury status associated with Cuban cigars, it is expected that Cuban cigars will be able to catch up and gain significant market share. Despite bright prospects of Cuban tobacco industry, recent protests from tobacco lobbies from Southern Florida ( mainly Miami) is expected to delay the legal processes of removing bans. The US tobacco industry is mainly concentrated in this region.
What the report offers
The study identifies the situation of Cuba and predicts the growth of its Tobacco Industry. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, growth forecast, major companies, upcoming companies and projects etc. in the Tobacco Industry of Cuba. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by various types of Tobacco available in the country.
1.1 Research Methodology
1.1.1 Definition of the Market
1.1.2 Report Description
1.1.3 Executive Summary
2. KEY FINDINGS OF THE STUDY
3. MARKET OVERVIEW
3.1 Market Segmentation
3.3 Industry Value Chain Analysis
3.4 Industry Attractiveness - Porter's 5 Force Analysis
4. MARKET DYNAMICS
4.2.1 Special Status of Cuban Cigar: Luxury Good
4.2.2 Improving agricultural productivity
4.2.3 Entry of big enterprises in this space
4.3.1 Rising health Concerns
4.3.2 Lack of industry standards
4.3.3 Alternatives like Nicotine Replacement Therapy and E- Cigarettes
4.3.4 High Prices
4.4.1 Opening of US markets
4.4.2Rising Export Demands
5 MARKET ANALYSIS
5.4 Rolling Tobacco
6 MAJOR BRANDS : COMPETITIVE LANDSCAPE
6.4 ROMEO Y JULIETA
6.6 H. UPMANN
7 Future of Cuban Cigarettes/ Cigar market
8 List of Tables
9 List of Graphs