Snus Market: North America is Anticipated to Grow Double its Current Value – Fact.MR Survey

Posted on 2022-01-12 by Future Market Insights, Inc in Internet & Online // 0 Comments

The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.

The report offers actionable and valuable market insights of Snus. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Snus Market across various industries and regions.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Snus market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Snus

This newly published and insightful report sheds light on Market Insights of Snus, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Snus Market.

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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.

Product Type

Portion Snus
- Regular
- White regular
- Strong
Loose Snus
- Regular
- Strong and extra strong
Others

Flavor

Standard
Flavored
- Fruit
- Herbal
- Mint
- Other Flavors

Packaging

Films and Wraps
Cans
Pouches
Others

Sales Channel

Specialty Stores
Online Retail
Modern Trade
Others

Region

North America
Latin America
Europe
Asia-Pacific
Middle-East and Africa

This taxonomy and the detailed table of content prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.

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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.

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.

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More Valuable Insights on Snus Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Snus, Sales and Demand of Snus, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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