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.
For More Insights Into The Market, Request a Sample of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=306
Global Snus Market: Segmentation
Segmentation table of the global snus market has been provided below on the basis of product type, flavor, packaging, sales channel, and region.
By Product Type :
- Portion Snus
- White regular
- Loose Snus
- Strong and extra strong
- Portion Snus
By Flavor :
- Other Flavors
By Packaging :
- Films and Wraps
By Sales Channel :
- Specialty Stores
- Online Retail
- Modern Trade
By Region :
- North America
- Latin America
- Middle-East and Africa
Snus Market Leaders Focus on Portfolio Expansion
Snus market is consolidated with 4 companies holding more than 70% share in the global market. Competition in snus market is high with companies trying to gain an edge over others through rapid developments. Companies like Swedish Match AB have maintained their hold in the market with acquisitions to optimize their portfolio and increase investments in United States. Other companies like Altria Group, Inc. have also entered the snus market through acquisitions. Investments of snus manufacturers are expected to intensify in North America.
- In 2019, Altria Group, Inc. announced a payment of $372 million in order to acquire 80% share in Burger Söhne Holding AG. This acquisition was aimed to enter snus market and complement the existing oral tobacco portfolio through nicotine pouches among other products.
- In 2019, Swedish Match AB got an approval from Food and Drug Administration (FDA) for labeling general snus as a safe alternative for smoking. Swedish Match is the only company working in United States to receive this approval.
- In 2018, Swedish Match acquired Gotlands Snus AB. The acquisition was aimed to enhance the snus product portfolio and increase share in the domestic market.