Product ID: SQMIG30J2015
Global Snus Market Size, Share, Growth Analysis, By Flavour(Mint, whisky), By type(Loose, Portion and others), By Packaging(Cans, jars), By Distribution channel(Convenience stores, supermarkets) - Industry Forecast 2024-2031
Report ID:
SQMIG30J2015 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
118 |
Figures:
78
Global Snus Market Insights
Snus Market size was valued at USD 2.8 billion in 2021 and is poised to grow from USD 2.92 billion in 2022 to USD 4.09 billion by 2030, growing at a CAGR of 4.3% in the forecast period (2023-2030).
snus is becoming popular since It Is a smokeless tobacco product. This market offers several advantages that have contributed to its immense growth and success. The various advantages include a healthier alternative to smoking, convenience to use, long shelf life, and lower taxes.
Snus, being a smokeless tobacco product, has a remarkable advantage of having a prolonged shelf life. This means that it can be stored for long periods without the risk of spoilage. This attribute can be attributed to the fact that snus is pasteurized, which eliminates any bacteria and mold that may be present. This makes it a preferred choice for retailers who wish to stock up on a product that does not require frequent replenishment and does not take up too much space. The extended shelf life of snus has become a significant selling point for the product, and it has contributed significantly to its popularity. This feature allows snus manufacturers and retailers to store large quantities of the product for a longer time, which reduces the risk of running out of stock. As a result, retailers can confidently invest in a larger quantity of snus products without fear of losing profits from spoilt stock. In 2020, Swedish Match, a renowned snus manufacturer, reported an impressive net sales growth of 12%. This growth was largely driven by strong demand for snus products, which can be attributed to the product's extended shelf life. Retailers are increasingly attracted to snus as it enables them to stock up on the product without the fear of expiration, which can reduce wastage and maximize profit. It has a significant advantage over the cigarette market due to the lower taxes levied on snus. In certain countries like Sweden, snus is taxed at a substantially lower rate than cigarettes. This reduced taxation makes snus a more economically viable alternative for smokers in comparison to cigarettes. Consequently, this has significantly contributed to the popularity of snus in Sweden, where it holds more than 50% of the tobacco market. The lower tax rate on snus has positively impacted the demand for this product, making it a more attractive option for smokers. The affordability of snus has drawn a substantial number of smokers towards the snus market, leading to its growth and popularity. This lower tax rate has been a significant contributor to the success of the snus market, especially in countries where high taxes are levied on tobacco products.
Moreover, the convenience offered by snus has become a major selling point for the product. The small pouches make it incredibly easy to carry and use, making it a convenient option for users who lead a busy lifestyle. The absence of smoke and the ability to use snus without needing any additional accessories make it a preferred choice for individuals who are always on the go. Snus is packaged in small pouches that can effortlessly fit into a pocket or a purse, making it extremely portable. Users can enjoy snus at any time and place, without the need for a lighter or ashtray. Consequently, snus is becoming increasingly popular among people who are constantly on the move, including athletes, truck drivers, and soldiers. For instance, Swedish hockey players have been known to use snus during games as a means of enhancing their performance. The use of snus during sports events has gained popularity, especially among athletes who use it as a performance enhancer. For instance, Swedish hockey players have been known to use snus during games, as it is an effective means of increasing their energy levels and improving their focus. This has led to the increased acceptance and popularity of snus in the sporting community.
US Snus Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Snus Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
