Cigar Lounges in the US - Industry Market Research Report

Cigar Lounges in the US - Industry Market Research Report

Cigar Lounges in the US

The Cigar Lounges industry's long-term decline has been accelerated by the COVID-19 pandemic. Cigar lounges took a large hit following the outbreak of coronavirus in the United States, which prompted a shutdown of nonessential businesses. Industry revenue plummeted 4.8% in 2020. Post-COVID growth was short lived, with revenue growing only 0.7% in 2021 before falling 7.4% in 2022. Overall, industry revenue has been falling at a CAGR of 2.1% over the past five years and is expected to reach $730.4 million through the end of 2023. This includes an estimated 1.8% drop in 2023 alone.

This industry comprises businesses known as classic cigar bars or lounges, where patrons can purchase and smoke premium cigars in house. Players in this industry may also provide limited food, alcohol and entertainment services to complement their portfolio. This industry does not include establishments known colloquially as hookah bars or vape shops.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.