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The global snus market is projected to register a CAGR of 4.75% during the forecast period (2020- 2025)

ReportLinker
·4 min de lecture

- Smokeless tobacco products, such as snus, are gaining significant popularity as convenient alternatives to cigarettes. Stringent government rules and regulations, with regard tosmoking and environmental contamination, have given an upswing to the demand for snus among consumers.

New York, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Snus Market Growth, Trends and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05989458/?utm_source=GNW

- Further, in developed countries, like the United States, the efforts of the government to reduce smoking by granting permission for the usage of tobacco and nicotine alternatives may further increase the adoption of snus. The Food and Drug Administration (FDA) allowed the Swedish firm, Match AB, to advertise products that are less harmful than smoking cigarettes
- Some of the key players, such as Swedish Match AB, Altria Group Inc., and JT International Agare, are investing to create awareness about their products that have less health-damaging properties and that offer a better alternative to cigarettes.

Key Market Trends
Rising Inclination Towards Smokeless Tobacco Products

Smokeless tobacco can be used in places where other tobacco products are banned and is medically accepted as less harmful than smoking. Volume sales of the same are growing in the United States and other countries while that of cigarette is contracting. Major tobacco companies are investing in smokeless tobacco via acquisition and product development. In 2017, 11% of the Norwegian population, aged 16 to 74 years, was found to be daily cigarette smokers, while 12% used snus daily. Moreover, 2017 was reported as being the first year in which there were more daily snus users than cigarette smokers in the country. Cigarette smokers comprise the principal target group for loose snus. The WHO’s surveys show that many smokers want stronger snus in order to view it as an alternative option to other tobacco products. The increase in sales of previously launched loose snus with a high nicotine content also clearly indicates considerable demand for loose snus products with high nicotine content. For instance, Swedish Match launched General Ekstra Sterk loose snus with strong tobacco flavor and more nicotine, which gained popularity among consumers across Europe and North America.

Europe Remains the Largest Market

Europe holds significant market share in snus market across the globe. In Sweden, the number of snus users has been growing and has surpassed the number of cigarette users which is playing key role to drive the snus market growth in the Europe region. Cigarette consumption has been declining in Sweden for the last few years, as the public is increasingly opting for snus products. As per the data published by Swedish Match AB, in 2017, it is estimated that more than 20% of Swedish men and more than 5% of Swedish women use snus regularly. The overall percentage of women using snus has been growing in recent years, while their use of cigarettes has declined. Therefore, this factor is increasing the demand for snus in the market. The rise of e-commerce was an industry trend that contributed to the snus market in European countries like Norway, owing to relatively young consumer demographic and are therefore more accustomed to e-commerce. Online retailers are offering lower prices than traditional retailers, as well as extensive product selection, which in turn is further instefying the growth of the snus market in the European region

Competitive Landscape
The global snus market is highly competitive with the strong presence of global and regional players in the market. In the market studied, well-established companies with a known brand attached to their business profile have a higher penetration across retail shelves, mostly on account of business expansion and the presence of a higher share of consumer preference across both developed and developing markets. With a huge presence and wide distribution networks, the key players (such as Swedish Match AB, British American Tobacco PLC, Imperial Brand, Altria Group Inc., and JT International AG) hold prominent shares in the global snus market. Furthermore, the tobacco companies have always seen innovation and new product development (NPD) as a way of boosting brand performance, keeping existing customers loyal, and attracting new ones. Owing to this factor, companies around the world have steadily diversified into alternative tobacco and nicotine products, including a certain type of smokeless tobacco, called Swedish-style snus.

Reasons to Purchase this report:
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Read the full report: https://www.reportlinker.com/p05989458/?utm_source=GNW

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