Snus Market Demand and Growth Forecast 2024

"The Business Research Company recently released a comprehensive report on the Global Snus Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The snus market size has grown strongly in recent years. It will grow 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.

The snus market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include technological advancements, organic and natural snus, telehealth, celebrity endorsements, and premium product lines.

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Market Drivers and Trends:

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. For instance, in May 2024, according to the Centers for Disease Control and Prevention, a US-based government agency, approximately 2 out of every 100 persons aged 18 and above (2.1%) indicated current use of smokeless tobacco products, indicating 5.2 million adults. Therefore, the increasing demand for smokeless tobacco is driving the growth of the snus market.

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. For instance, in March 2022, SpectrumLeaf Ltd., a UK-based company that provides premium cannabidio*l and nicotine products, launched Voon hemp snus pouches, a natural, vegan, smokeless alternative that incorporates hemp extract. These pouches are crafted using sustainably sourced hemp fibers, reflecting a commitment to environmental responsibility. They offer consumers a natural and eco-friendly alternative to conventional pouch materials, appealing to those concerned about sustainability and seeking products aligned with green lifestyles.

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Major Key Players of the Market:

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

Snus Market 2024 Key Insights:

• The snus market size is expected to see strong growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Surging Demand For Smokeless Tobacco Fueling The Growth Of The Snus Market
• Innovative Natural Hemp Pouches Driving Snus Market Growth
• North America was the largest region in the snus market in 2023

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