Snus Market to Hit USD 3.01 Bn. at a growth rate of 4 percent – Says Stellar Market Research

Snus Market to Hit USD 3.01 Bn. at a growth rate of 4 percent - Says Stellar Market Research

“Snus Market”
Snus Market size of the Europe region is expected to dominate the market during the forecast period. Snus Market analysis was conducted by dividing it into Product Type, Flavors, and Distribution Channel. The bottom-up approach was used to estimate the Snus Market size.

Pune, 15, May, 2024: Stellar Market Research, a Food & Beverages business research firm has published a report on the “Snus Market”. The total market opportunity for Snus Market was USD 3.01 Bn in 2023 and is expected to grow at 4 percent CAGR through the forecast period by reaching nearly USD 3.96 Bn.

Snus Market Report Scope and Research Methodology

Market Size in 2023        USD 3.01 Bn.

Market Size in 2030        USD 3.96 Bn.

CAGR    4 % (2023-2029)

Forecast Period 2024-2030

Base Year            2023

Number of Pages             274

No. of Tables     115

No. of Charts and Figures             112

Segment Covered            Product Type, Flavors, and Distribution Channel

Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage             Market Share, Size & Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, SMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

This research study looks extensively at the market segments and geographic regions in addition to providing a thorough review of the strategies used by the top Snus businesses. By examining market dynamics at the regional and segment-specific levels, Snus Market Research offers a thorough understanding of opportunities, challenges, drivers, and limitations. Further details on import/export consumption, supply and demand, price, cost, and gross margins are also included in order to improve its value as an investor’s guide.

Primary and secondary research methods were used in the Snus Market study to gather data, which was then merged to ensure the accuracy of the report. The primary study being provided is based on the distribution of surveys, questionnaires, and phone interviews with market leaders and entrepreneurs in addition to industry specialists who specialize in snus. The size of the global and regional snus market has been determined using the bottom-up methodology. The top Snus companies were the subject of a SWOT analysis to determine their benefits and drawbacks.

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Snus Market Overview

Snus is less harmful alternative to smoking, is gaining popularity because of stringent government regulations and the ease of application. The market is growing slowly because of the variety offered by market players, including different fruit flavors and being consumed by young millennials. The low risk of gastrointestinal, lung, and pancreatic cancers and respiratory disorders also contributes to its popularity. The snus market is expected to continue growing, especially in regions with high smoking rates and harm reduction efforts. Education and awareness about snus risks and benefits are crucial for market growth.

Snus Market Dynamics

The snus market is experiencing a surge in popularity because of the decline in tobacco consumption globally. To maintain its dominance, industry companies are focusing on creating tobacco-free alternatives, offering a variety of brands with a blend of herbs and flavors. The rise in snus usage among the young population is attributed to strong awareness campaigns about the negative effects of smoking and the less harmful effects of snus. The production of snus uses pasteurized tobacco steam, which reduces the risk of pancreatic, oral, and respiratory cancer and slows the growth of bacteria producing nitrosamines. The millennial generation, regardless of gender, has advanced the market with an increased demand for unique and new snus flavors, making it a significant factor in the snus industry.

Snus Market Regional Insights

North America held a market share of more than XX% in 2023, leading the worldwide snus market. The government’s efforts in the United States to discourage smoking by permitting the use of nicotine and tobacco substitutes are expected to have a significant influence on the growing snus uptake in the area. Increased spending in the area on the creation of new products is also anticipated to support market growth.

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Snus Market Segmentation

By Product Type

  • Loose Snus
  • Portion Snus

By Flavors

  • Mint
  • Berries
  • Dry Fruit
  • Others

Based on Flavors, The snus market offered mint flavour being the dominant segment, accounting for over XX% of revenue in 2023. This is due to its appealing odor, flavour, pleasantness, and intensity, as well as its ease of availability. The fruit flavour segment is expected to grow at a CAGR of X.X% from 2024-2030, driven by the preference of young adults for sweet tastes and odors, particularly in candy and fruit categories. Flavoured snus products are perceived as more appealing and less harmful than non-flavoured tobacco products, driving growth in the fruit flavour segment in the upcoming year.

By Distribution Channel

  • Tobacco Stores
  • Convenience Stores
  • Online Retail Stores
  • Others

Snus Key Competitors include:

  • Swedish Match AB – Sweden
  • GN Tobacco – Sweden
  • Nordic Spirit – Sweden
  • com – Sweden
  • Skruf snus – Sweden
  • Japan Tobacco International – Japan
  • Imperial Brands plc – United Kingdom
  • Altria Group – United States
  • British American Tobacco p.l.c. – United Kingdom
  • Kretek International, Inc. – United States
  • Mac Baren Tobacco Company A/S – Denmark
  • Scandinavian Tobacco Group – Denmark
  • SnusCentral – United States
  • Chickylicious AB – Sweden
  • Gajane Gross AB – Sweden
  • Philip Morris Products S.A – Switzerland
  • Turning Point Brands Inc – United States
  • Gotlands snus – Sweden
  • Nordic snus ab – Sweden
  • inc

Key questions answered in the Snus Market report are:

  • What growth strategies are the players considering to increase their presence in Snus Market?
  • Who are the leading companies and what are their portfolios in Snus Market?
  • What are the major challenges that the Snus Market could face in the future?
  • Which region held the largest Snus Market Share in 2023?
  • What is Snus?
  • Which market segment held the largest share of the global Snus Market in 2023?
  • What are the global trends in the Snus Market?
  • What are the upcoming industry applications and trends for the Snus Market?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for Snus Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by different segment | 2024−2030
  • Snus Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Snus Market Segmentation – A detailed analysis by Type, by Product, by Application and Region
  • Competitive Landscape – Profiles of selected key players by region in a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Stellar Market Research is leading Food & Beverages research firm, has also published the following reports:

Craft Wine Market – The market size is expected to reach USD 54.44 Billion by 2030 at a CAGR of 4.5 percent during the forecast period. The global craft wine market is growing because of the increasing trend of premium drinks and the availability of various flavours.

Fresh Pasta Market – The market size is expected to reach USD 14.29 Billion by 2030 at a CAGR of 7 percent during the forecast period. The Global Fresh Pasta market has experienced notable growth in recent years, driven by evolving consumer preferences, increasing demand for convenience foods, and the popularity of Italian Cuisine globally.

About Stellar Market Research:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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