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Republic of Korea - Cigars, Cheroots and Cigarillos - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Cigars And Cigarillos Market 2024
Cigars And Cigarillos Market Size in Republic of Korea
The South Korean cigars and cigarillos market declined to $X in 2023, dropping by X% against the previous year. In general, the total consumption indicated a mild increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.
Cigars And Cigarillos Production in Republic of Korea
In value terms, cigars and cigarillos production declined to $X in 2023 estimated in export price. Over the period under review, production, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth remained at a somewhat lower figure.
Cigars And Cigarillos Exports
Exports from Republic of Korea
In 2023, shipments abroad of cigars, cheroots and cigarillos increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, exports showed significant growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2023, the growth of the exports remained at a lower figure.
In value terms, cigars and cigarillos exports surged to $X in 2023. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
Taiwan (Chinese) (X tons), Japan (X tons) and Uruguay (X tons) were the main destinations of cigars and cigarillos exports from South Korea, with a combined X% share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for cigars and cigarillos exported from South Korea were Taiwan (Chinese) ($X), Japan ($X) and Uruguay ($X), together comprising X% of total exports.
In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average cigars and cigarillos export price stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the export price enjoyed a temperate increase. The pace of growth was the most pronounced in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Armenia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.
Cigars And Cigarillos Imports
Imports into Republic of Korea
In 2023, approx. X tons of cigars, cheroots and cigarillos were imported into South Korea; waning by X% on 2022 figures. In general, imports, however, showed a moderate increase. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.
In value terms, cigars and cigarillos imports plummeted to $X in 2023. Over the period under review, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.
Imports by Country
In 2023, Hong Kong SAR (X tons) constituted the largest supplier of cigars and cigarillos to South Korea, with a X% share of total imports. It was followed by Nicaragua (X kg), with a X% share of total imports. The third position in this ranking was held by the Dominican Republic (X kg), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from Hong Kong SAR totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nicaragua (X% per year) and the Dominican Republic (X% per year).
In value terms, Hong Kong SAR ($X) constituted the largest supplier of cigars, cheroots and cigarillos to South Korea, comprising X% of total imports. The second position in the ranking was taken by Cuba ($X), with a X% share of total imports. It was followed by the Dominican Republic, with a X% share.
From 2012 to 2023, the average annual growth rate of value from Hong Kong SAR totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cuba (X% per year) and the Dominican Republic (X% per year).
Import Prices by Country
In 2023, the average cigars and cigarillos import price amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated notable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cigars and cigarillos import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Cuba ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cuba (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the cigars and cigarillos market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 12001130 - Cigars, cheroots and cigarillos containing tobacco or mixtures of tobacco and tobacco substitutes (excluding tobacco duty)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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