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Snus Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Snus Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 23, 2024 /EINPresswire / -- The snus market has experienced robust growth in recent years, expanding from $2.80 billion in 2023 to $2.95 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to increased consumer awareness of smokeless tobacco products, increasing disposable incomes, rising health concerns, growth in investments in research and development, and growth in cross-border trade.
What Is The Estimated Market Size Of The Global Snus Market And Its Annual Growth Rate?
The snus market is projected to continue its strong growth, reaching $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to growing urbanization, growing penetration of snus in the female consumer segment, growing prevalence of workplace smoking bans, rising popularity of organic and natural snus options, and increasing adoption of snus among health-conscious consumers.
Explore Comprehensive Insights Into The Global Snus Market With A Detailed Sample Report:
Growth Driver Of The Snus Market
The increasing demand for smokeless tobacco is expected to propel the growth of the snus market going forward. Smokeless tobacco refers to tobacco products that deliver nicotine and other chemicals to the user without burning, avoiding inhalation of smoke. The demand for smokeless tobacco is due to stricter smoking bans, a perception of being a healthier alternative to smoking, effective marketing strategies, continuous product innovations, and cultural acceptance in certain regions. Snus is used in smokeless tobacco by placing it between the upper gum and lip, where it releases nicotine and flavor directly into the bloodstream through the oral mucosa, providing a nicotine experience without the need for smoking or chewing.
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Which Market Players Are Steering the Snus Market Growth?
Key players in the snus market include Swedsnus AB, British American Tobacco PLC, Philip Morris, Altria Group Inc., Skruf AB, Imperial Brands, KT&G Corporation, Swedish Match AB, SPT Group, V2 Tobacco, Rocker Production, The Mac Baren Tobacco Company, GN Tobacco Sweden AB, JT International AG, Dholakia Tobacco Pvt. Ltd, Burger Söhne Holding AG, Fiedler & Lundgren AB, Oliver Twist, Habit Factory, Fiedler & Lundgren.
What Are the Dominant Trends in Snus Market Overview?
Major companies operating in the snus market focus on developing innovative products, such as natural hemp pouches, to cater to evolving consumer preferences and expand their market reach. Natural hemp pouches refer to pouches used in products like snus that are made from hemp fibers or materials derived from the hemp plant. These pouches are designed to hold tobacco or nicotine-containing substances and are often marketed as eco-friendly alternatives to traditional materials.
How Is The Global Snus Market Segmented?
1) By Product: Loose, Portion
2) By Flavor: Mint, Whiskey, Fruit, Other Flavors
3) By Packaging: Films and Wraps, Cans, Pouches, Other Packagings
4) By Channel: Specialty Stores, Online Retail, Modern Trade, Other Channels
Geographical Insights: North America Leading The Snus Market
North America was the largest region in the snus market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the snus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Snus Market Definition
Snus is a moist smokeless tobacco product from Sweden and is commonly used in Scandinavian countries. It is placed under the upper lip for extended periods, releasing nicotine and flavor. It is used for delivering nicotine to the user without the need for smoking, which can help reduce exposure to the harmful byproducts of combustion.
Snus Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global snus market report covering trends, opportunities, strategies, and more
The Snus Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on snus market size, snus market drivers and trends, snus market major players, snus competitors' revenues, snus market positioning, and snus market growth across geographies. The snus market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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