Snus Market size is set to grow by USD 983.33 million from 2022 to 2027, Availability of flavored snus to boost the market growth - Technavio
NEW YORK, May 31, 2023 /PRNewswire/ -- The global snus market size is estimated to grow by USD 983.33 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 10.56% during the forecast period. Europe is estimated to account for 57% during the forecast period. The regional snus market is highly concentrated, with the Scandinavian region being a major producer and consumer of snus. The European snus market witnessed the implementation of several stringent government regulations in the past. However, several European countries now ban the manufacture and consumption of snus products, which could significantly slow growth during the forecast period and affect Europe's current position as the world's leading snus producer. But the growing popularity of snus products with premium prices and innovative flavors are the major factors impacting the growth of the European snus market during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
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Snus Market - Segmentation Assessment Segment Overview Technavio has segmented the market based on flavor (mint, fruit, whiskey, and others), product (portion and loose), and geography (Europe, North America, APAC, South America, and Middle East and Africa).
The market share growth by the mint segment will be significant for overall market growth during the forecast period. Mint flavors are commonly added to snus to provide a fresh, cool taste that appeals to users and has become a popular variant of smokeless tobacco products. There is a growing market for mint-flavored snus substitutes, and new products are being created and introduced to satisfy this demand. Thus, the mint segment is expected to drive the growth of the global snus market during the forecast period.
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Snus Market ? Market Dynamics
Key factor driving market growth
The availability of flavored snus is driving the growth of the global snus market. The global snus market, in the past five years, has witnessed a surge in new product launches with innovative flavors. Swedish Match AB (Swedish Match) maintains its strong position as a premium player in the Swedish snus market by offering branding and quality measures across its various product lines. Similarly, the Kaliber and Kronan brands maintain strong positions in the value-based pricing market in Sweden.
However, Swedish Match extended its General G.3 range with new functional properties, in Norway. The company also added General G.3 Mint Strong Super Slim, with a slimmer white pouch snus packaging to this range. This is aimed at the young adult consumer base. Hence, the availability of snus with different flavors will drive the growth of the global snus market during the forecast period.
Leading trends influencing the market
Changing consumption trends in the global tobacco market are among the leading trends in the global snus market. In consumption trends, the global tobacco market is undergoing a major shift, clearly away from cigarettes. Various products in the smokeless tobacco market are gaining momentum among health-conscious consumers and many of these products contain nicotine but not tobacco.
Many of the popular smokeless tobacco products include snus, wet snuff, e-cigarettes, e-cigarettes, e-cigarettes, heat-not-burn tobacco products, and non-pharmaceutical nicotine delivery products. Hence, smoking cessation, rising health concerns, and strict government regulations on tobacco are impacting the global tobacco market.
Major challenges hindering the market growth
The negative health effects of snus consumption are a major challenge hindering the growth of the global snus market. Even though the health effects are less harmful than smoking tobacco products, smokeless tobacco products are not completely safe. All types of spit or smokeless tobacco products carry certain health risks.
Some of the adverse health effects of the consumption of snus and other smokeless tobacco products include cancer, mouth and tooth problems, and nicotine addiction. Hence, the negative impact of snus consumer products is expected to hamper the growth of the global snus market to some extent during the forecast period.
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What are the key data covered in this Snus Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the snus market between 2023 and 2027
Precise estimation of the size of the snus market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the snus market across Europe, North America, APAC, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of snus market vendors
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The heat-not-burn tobacco products market is estimated to grow at a CAGR of 27.05% between 2022 and 2027. The size of the market is forecast to increase by USD 42,172.36 million. This report extensively covers market segmentation by product (devices, capsules, and vaporizers), distribution channel (offline and online, and geography (APAC, North America, Europe, Middle East, and Africa, and South America). The cost-effectiveness of heat-not-burn tobacco products is the key factor driving the global HNB tobacco products market growth.
The tobacco market size is estimated to grow at a CAGR of 3.84% between 2022 and 2027. The market size is forecast to increase by USD 173.03 billion. This tobacco market report extensively covers market segmentation by distribution channel (offline and online), product (combustible tobacco products and smokeless tobacco products), and geography (APAC, Europe, North America, Middle East and Africa, and South America). Rising demand for cigars and tobacco products is notably driving the tobacco market growth.
Snus Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 10.56%
Market growth 2023-2027
USD 983.33 million
Market structure
Concentrated
YoY growth 2022-2023 (%)
8.87
Regional analysis
Europe, North America, APAC, South America, and Middle East and Africa
Performing market contribution
Europe at 57%
Key countries
US, Sweden, Norway, Poland, and Spain, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Altria Group Inc., Another Snus Factory Stockholm AB, British American Tobacco Plc, Dholakia Tobacco Pvt. Ltd., Empire of Snus, GN Tobacco Sweden AB, Harsh International, Imperial Brands Plc, Japan Tobacco Inc., Philip Morris International Inc., Swisher International Inc., Wilsons and Co. Sharrow Ltd., TIGERSNUS ORGANIC SNUS TOBACCO, and Turning Point Brands Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Flavor
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Product
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global snus market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on global snus market 2017 - 2021 ($ million)
Exhibit 164: Turning Point Brands Inc. - Business segments
Exhibit 165: Turning Point Brands Inc. - Key offerings
Exhibit 166: Turning Point Brands Inc. - Segment focus
12.16 Wilsons and Co. Sharrow Ltd.
Exhibit 167: Wilsons and Co. Sharrow Ltd. - Overview
Exhibit 168: Wilsons and Co. Sharrow Ltd. - Product / Service
Exhibit 169: Wilsons and Co. Sharrow Ltd. - Key offerings
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 170: Inclusions checklist
Exhibit 171: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 172: Currency conversion rates for US$
13.4 Research methodology
Exhibit 173: Research methodology
Exhibit 174: Validation techniques employed for market sizing
Exhibit 175: Information sources
13.5 List of abbreviations
Exhibit 176: List of abbreviations
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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