Snus Market Size Worth $3.70 Billion By 2027 | CAGR: 5.5%: Grand View Research, Inc.
SAN FRANCISCO, May 20, 2020 /PRNewswire/ -- The global snus market size is expected to reach USD 3.70 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% over the forecast period. Increasing adoption of snus in order to promote less harmful tobacco products is a major factor promoting the market growth.
For instance, in March 2020, TOBACCO harm reduction advocates launched an Asia-wide education and information campaign and urged the World Health Organization (WHO) and the Department of Health (DOH) to promote the use of safer smoke-free alternatives. The Coalition of Asia Pacific Tobacco Harm Reduction Advocates (CAPHRA) aims to curb the smoking epidemic in Asia Pacific and inform smokers about the existence of safer alternatives, including snus.
Key suggestions from the report:
- Based on product, the portion segment was valued at USD 2.01 billion in 2019. The new generation product has gained popularity owing to the ease of use it offers to its consumers in contrast to the loose snus as well as other tobacco products
- Asia Pacific dominated the market and accounted for more than 55% share of the global revenue in 2019. This is attributed to increasing penetration of the product owing to growing demand for less harmful tobacco products in countries, such as China, South Korea, and Japan
- Middle East and Africa is expected to be the fastest growing market in the years to come owing to improvement in economic indicators in African countries, including Nigeria, Kenya, and Ethiopia.
Read 80 page research report with ToC on "Snus Market Size, Share & Trends Analysis Report By Product (Loose, Portion (Original, White)), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/snus-market
Growing preference for products has stimulated manufacturers to launch new products. For instance, in July 2019, R.J. Reynolds Vapor Co. launched velo, a tobacco free snus product, which contains nicotine extracted from tobacco plants. The company expects that the product will attract a large set of consumers owing to the convenience, flavor, and enjoyable experience it offers. The product is a part of company's "modern oral portfolio".
Similarly, in April 2020, Swedish Match announced its expansion in seven additional U.S. markets with its General Swedish snus. The product is available at convenience stores and tobacco outlets across New York, Los Angeles, Minneapolis, Phoenix, Denver, Nashville, and Ohio. The product is available in two flavors, including Nordic Mint and Classic Blend. These markets experience serious smoking restrictions, and thus is expected to open new avenues for snus products. The product is expected to fulfil consumers' demand for discrete, satisfying alternatives to traditional smokeless tobacco and cigarettes. Furthermore, in May 2018, NZ Smokeless Tobacco Co. launched NZ SNUS. The company sells the products through its online platform.
Grand View Research has segmented the global snus market on the basis of product and region:
- Snus Product Outlook (Revenue, USD Million, 2016 - 2027)
- Loose
- Portion
- Original
- White
- Others
- Snus Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Europe
- Sweden
- Russia
- Norway
- Asia Pacific
- India
- Indonesia
- Bangladesh
- Central & South America
- Middle East & Africa
- List of Key Players of Snus Market:
- Swedish Match AB
- British American Tobacco
- Altria Group, Inc.
- AG Snus
- Burger Söhne Sweden AB
- Dacapo Silver AB
- Fiedler & Lundgren
- GN Tobacco
- Gordito Oü
- Gotlandssnus
- Nordic Snus AB
- Skruf Snus
Find more research reports on Alcohol & Tobacco Industry, by Grand View Research:
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- Heated Tobacco Products Market – It is driven by the steady decrease in cigarette sales with rising demand for potentially reduced-risks products. Presence of low level of nicotine and chemicals Heat-Not-Burn (HNB) products is anticipated to further fuel the demand.
- Clove Cigarettes Market – The growth is attributed to increasing product launches driven by the growing demand for machine-made clove cigarettes.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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