Feb 25, 2020

Snus Market to Record 5% Growth, as Demand for Alternative Tobacco Products Intensifies, Concludes Fact.MR

by Team Fact.MR

Snus market has experienced a surge in recent years, owing to the penetrative reach of multiple tobacco companies entering the market. Growing preference of alternative tobacco products like vapes, nicotine pouches and smokeless tobacco is expected to generate significant traction for snus. Snus is a preferred smokeless tobacco variant on back of its easy availability and affordability

 In 2019, FDA approved Swedish Match AB to label their snus products as a ‘less harmful product for usage’. This is expected to increase the adoption of snus in United States. Global campaigns for reduction of tobacco use is anticipated to further increase the adoption of snus. Transition of consumers towards alternative products is anticipated to supplement the growth of the snus market, which is expected to register a CAGR of more than 5% during forecast period.

Key Takeaways of Snus Market

  • North America accounts for one fourth share in snus market, and is expected to grow 2.0X during forecast.
  • While specialty stores account for a major chunk of the share in snus market, online retail is expected to show rapid growth during forecast period.
  • Demand for portion snus has been substantially increasing and the segment is expected to grow 1.6X by 2029 over 2019.
  • Flavored snus accounts for more than 60% of the market share and is expected to grow 1.5X during the forecast.

“Investments in United States are expected to be highly lucrative for established as well as emerging players. Entering United States with flavored snus products can provide a competitive edge for new entrants”, says the Fact.MR analyst

Snus Manufacturers Pushing for Consolidation in a Competitive Market Landscape

The market for snus products is highly consolidated with 4 companies generating 70% revenue share. While the market has seen new entrants like Altria Group, Inc., current market leaders have been striving to gain market share in an already consolidated market. Some players like Swedish Match AB have focused on acquisition of domestic players to gain share in snus market, while others have ventured into new regions. Snus market is expected to reach consolidation of 80% with the addition of new market leaders during forecast period.

Find More Valuable Insights on Snus Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global snus market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the snus market on the basis of product type {portion snus (regular, white regular, strong), loose snus (regular and strong & extra strong) and others}, flavor {standard and flavored (fruit, herbal, mint and other flavors)}, packaging {films & wraps, cans, pouches and other packaging types} and sales channel {specialty stores, online retail, modern trade and others} across five major regions.

>>> To Get more insights on snus market, visit- https://www.factmr.com/report/306/snus-market

About the Retail and Consumer Goods Division at Fact.MR

Being a consortium of large number of sub-industries, not many market research companies are being able to fulfil the requirements of consumer product clients. Though, Fact.MR retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio. For more consumer goods domain expertise, visit here.