Changes in taxation that are due to be implemented in 2024 will likely have a strong negative impact on sales. Due to different taxation, cigarillos and fine cut tobacco previously presented a more competitively priced option to cigarettes for smokers.
The changes in taxation defined for 2024 are set to have a particularly big impact on sales of fine cut tobacco. The main attraction of fine cut tobacco over cigarettes is the lower average price and therefore as the price gap is closed many smokers will likely switch to cigarettes, other tobacco alternatives, or quit altogether.
Aside from price growth, sales of cigars, cigarillos and smoking tobacco are also expected to be negatively by the development of combustion alternatives, including heated tobacco and e-vapour products. The leading tobacco players are also increasingly turning their attention towards these alternatives.
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Cigars, Cigarillos and Smoking Tobacco
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