The Covid-19 episode has brought the whole world to its knees. Yet the Cuban cigar seems unshakeable with a 15% increase in exports during the crisis. Decryption.
$568 million in sales in 2021
The first Cuban export products are nickel, sugar, seafood, vaccines, medical equipment, but above all cigars. And in 2021, the export record is simply unexpected. Cuban cigar factories have been hit hard by the global Covid-19 pandemic. 2021 has been a very difficult year for many industries, but the Cuban cigar industry is doing well.
According to the report compiled by the Habanos Group, sales of Cuban cigars soared 15% in 2021, reaching $568 million. A totally unexpected figure in view of the world situation. Proud of their performance, management draws a parallel with the crisis that occurred in 2020, which caused sales to fall by 13%.
Europe, a fervent consumer of Cuban cigars
The successive confinements in European countries have generated colossal sales, in particular at a distance. Spain, Germany, France, but also Switzerland have contributed to the success of Cuban cigars during the health crisis. The market share represents 59%, compared to 16% for Asia Pacific, 14% for America and 11% for Africa and the Middle East.
The shortage of Cuban cigars has not damaged their reputation. Thanks to strong international demand to fill cigar cellars, new cigar references have been shipped, which has also enabled experts or simple smokers to discover and appreciate other flavors. This is how 38 new types of cigars and 27 brands in total were sent around the world in 2021.
In addition, deliveries taking longer, resellers or simple private individuals have simply placed larger orders in order to absorb delays and avoid stock shortages.
Comment About The Cuban cigar is on the rise Below ..
