The Growth of Snus market is huge. The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry
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Smokeless tobacco products are soaring in popularity as convenient alternatives to cigarettes. Stringent government rules and regulations with regard to smoking and environmental contamination has given an upswing to demand for smokeless products such as snus among end users. This trend has been further given impetus by the imposition of taxes on cigarettes globally. Snus market is expected to garner significant traction and is set to generate an absolute $ opportunity of more than US$ 1 Bn during the forecast period.
North America Poised to Grow Double its Current Value in Snus Market
North America snus market is still in its nascent stages of development. Conducive market environment has been created for domestic as well as foreign manufacturers introducing smoking alternatives like snus and chewing tobacco. As a result, investments in United States have intensified and are expected to increase during forecast period. Efforts of United States Government to reduce smoking by granting permission for usage of tobacco and nicotine alternatives is expected to further increase adoption of snus. Owing to these changes in United States and an increase in efforts of snus manufacturers, North America is projected to grow double its current value during forecast period.
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Flavored Snus to Generate Highest Revenue Share in Snus Market
Flavored snus accounts for a majority share in the snus market and has been rapidly adopted. New snus consumers have been at the forefront of this surge. Flavored snus has also been preferred by new users owing to value priced products. Asia Pacific market is one of the top markets for flavored snus, where flavor offerings such as ‘paan’ among others are highly preferred by consumers. The budding market for snus in North America is expected to present prominent opportunities for snus manufacturers offering flavored variants. Owing to the added demand for flavored snus, the segment is expected to grow 1.5X by 2029 over 2019
Snus Market Leaders Focus on Portfolio Expansion
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Snus market is consolidated with 4 companies holding more than 70% share in the global market. Competition in snus market is high with companies trying to gain an edge over others through rapid developments. Companies like Swedish Match AB have maintained their hold in the market with acquisitions to optimize their portfolio and increase investments in United States. Other companies like Altria Group, Inc. have also entered the snus market through acquisitions. Investments of snus manufacturers are expected to intensify in North America.
- In 2019, Altria Group, Inc. announced a payment of $372 million in order to acquire 80% share in Burger Söhne Holding AG. This acquisition was aimed to enter snus market and complement the existing oral tobacco portfolio through nicotine pouches among other products.
- In 2019, Swedish Match AB got an approval from Food and Drug Administration (FDA) for labeling general snus as a safe alternative for smoking. Swedish Match is the only company working in United States to receive this approval.
- In 2018, Swedish Match acquired Gotlands Snus AB. The acquisition was aimed to enhance the snus product portfolio and increase share in the domestic market.
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The report answers important questions which include:
- Why is player leading the Snus Market in region?
- Which factors pose a negative impact on the Snus Market growth?
- What was the value registered by the Snus Market in 2018?
- What challenges do the Snus Market players face during R&D stages?
- Which countries contribute a significant share to the total market revenue in region?
Key findings of the Market report:
- Prominent manufacturers, raw material suppliers, equipment providers, traders, and distributors in the Snus market.
- In-depth analysis of important market segments, market potential, impacting trends, and challenges.
- Critical examination of the strengths, weaknesses, opportunities and threats of each Market player.
- Extensive investigation of the effects of the growth of relevant industries.
- Accurate data regarding the future prospects of the Market during the forecast period.
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