IMARC Group has recently released a new research study “Snus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Snus Industry?
The global snus market size reached US$ 2.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 4.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.14% during 2023-2028.
What is a Snus?
Snus refers to a finely ground, moist form of smokeless product that is commonly produced in Sweden from a mixture of dried tobacco leaves and salt. Unlike cigarettes, this derivative is placed behind the upper or lower lip for an extended period, which produces nicotine from the product. Snus is commercially available across tobacco, online retail, and convenience stores in varying types, including loose and portion. In addition, the presence of this component assists in reducing stress and anxiety while acting as a smokeless product.
What Are The Key Factors Driving In The Snus Market?
The shifting inclination of consumers toward this product as a safer alternative to various other tobacco-based derivatives, such as smoke pipes, cigars, and cigarettes, owing to the increasing health consciousness and the elevating requirement for smokeless tobacco variants, is among the primary factors driving the snus market. Besides this, while manufacturing this derivative, the tobacco steam is pasteurized instead of fermentation that aids in lowering the rate of oral, pulmonary, respiratory, and pancreatic cancer and mitigating the development of microbes that generate tobacco-specific nitrosamines, which is further augmenting the market growth.
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Moreover, the inflating investments and strategic collaborations among the leading players for the introduction of various flavor-infused snus, such as berries, whiskey, spices, cedar, dry fruit, hay, tea, smoky, eucalyptus, and licorice, are also catalyzing the global market. Apart from this, the incorporation of herbs in the production of this variant and its easy availability across both online and offline market channels, including convenience stores, hypermarkets, and e-commerce platforms, are anticipated to propel the snus market over the forecasted period.
Who Are The Key Players/Companies In Snus Market?
Altria Group Inc., GN Tobacco Sweden AB, Kurbits Snus AB, Mac Baren Tobacco Company (Halberg A/S), Nordic Snus AB, Philip Morris Products S.A., Skruf Snus AB and Swedish Match AB.
The report has been segmented the market into following categories:
Breakup by Product Type:
- Loose Snus
- Portion Snus
Breakup by Flavors:
- Dry Fruit
Breakup by Distribution Channel:
- Tobacco Stores
- Convenience Stores
- Online Retail Stores
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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