Snus Market Valuable Growth Prospects and Future Insights till 2022
The global snus market is expected to witness robust growth. The market is projected to register 7.5% CAGR during the forecast period 2017-2022. Being a low-risk nicotine product, snus has contributed to the decline in smoking and smoking-related diseases. The nicotine content of snus varies among brands, however, manufacturers have started producing strong and extra strong varieties with increased nicotine content. Following insights show how the global snus market will perform in the next five years.
[UKPRwire, Fri Jul 19 2019] The global snus market is expected to witness robust growth. The market is projected to register 7.5% CAGR during the forecast period 2017-2022. Being a low-risk nicotine product, snus has contributed to the decline in smoking and smoking-related diseases. The nicotine content of snus varies among brands, however, manufacturers have started producing strong and extra strong varieties with increased nicotine content. Following insights show how the global snus market will perform in the next five years.
Snus is smokeless, moist powdered tobacco. Snus consists of ground tobacco, salt, and some other flavoring ingredients. Fulfilling the criteria of tobacco, snus has been considered to have less harmful effects than a cigarette. There are various production and quality standards followed in the snus market. However, Gothiatek standard has maximum levels for ingredients such as metals, nitrite, mycotoxins, nitrosamines, aldehydes, and agrochemicals.
Health-conscious people in various countries are shifting from smoking to using smokeless tobacco products. Meanwhile snus market players are focusing on providing new flavors. Snus market players are also opening stores that include world-famous snus products. Moreover, staff in stores are also being trained to increase awareness among customers on using snus instead of other tobacco products. Changing consumption trends, increasing sustainability in sourcing of raw tobacco and growing brand loyalty are key trends contributing to growth of the snus market. Sales of snus is still banned in some countries, however, proper regulations can result in the reduction of the harmful effect of tobacco. Meanwhile, tobacco-free snus is also one of the focus areas of players in the snus market. Instead of using tobacco, key snus market participants are using various other ingredients such as oat husk, coconut husk or tea leaves.
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As per the latest report by Fact.MR, the snus market is likely to experience strong growth. The market is estimated to reach US$ 1,408.4 million revenue by 2022 end. Due to the rising awareness of snus among people and being less harmful than a cigarette, there has been a growth in the adoption snus in various regions, especially in Sweden. Snus market players are focusing on educating people on snus in order to increase the number of end-users.
Compared to the various types of products available in the snus market, original regular strength-large portion snus is likely to emerge as one of the top-selling products. By 2022 end, original regular strength-large portion snus is estimated to surpass US$ 500 million revenue.
Original snus is likely to gain close to two-fifth revenue share of the snus market by 2017 end. Original snus is estimated to bring in nearly US$ 600 million revenue towards 2022 end. Although Fruit flavor snus is also likely to experience strong growth throughout 2022.
Films and wraps are likely to emerge as the highly preferred packaging in the snus market. Experiencing strong growth throughout 2017-2022, films and wraps are estimated to surpass US$ 400 million revenue towards 2022 end. On the other hand, pouches as a packaging for suns is are also likely to witness significant growth in the snus market.
The report also profiles companies that are expected to remain active in the snus market through 2022, which include British American Tobacco p.l.c, Altria Group, Inc., Imperial Brands PLC, GN Tobacco Sweden AB, Swedish Match AB (publ), Hay Island Holding Corporation, Manikchand Group, Gotlands Snus Ab, DS Group, and Japan Tobacco Inc.
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