Snus Market Size Worth $3.70 Billion By 2027 | CAGR: 5.5%: Grand View Research, Inc.

Snus Market Size Worth $3.70 Billion By 2027 | CAGR: 5.5%: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, May 20, 2020

SAN FRANCISCO, May 20, 2020 /PRNewswire/ -- The global snus market size is expected to reach USD 3.70 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% over the forecast period. Increasing adoption of snus in order to promote less harmful tobacco products is a major factor promoting the market growth.

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For instance, in March 2020, TOBACCO harm reduction advocates launched an Asia-wide education and information campaign and urged the World Health Organization (WHO) and the Department of Health (DOH) to promote the use of safer smoke-free alternatives. The Coalition of Asia Pacific Tobacco Harm Reduction Advocates (CAPHRA) aims to curb the smoking epidemic in Asia Pacific and inform smokers about the existence of safer alternatives, including snus.

Key suggestions from the report:

Read 80 page research report with ToC on "Snus Market Size, Share & Trends Analysis Report By Product (Loose, Portion (Original, White)), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/snus-market

Growing preference for products has stimulated manufacturers to launch new products. For instance, in July 2019, R.J. Reynolds Vapor Co. launched velo, a tobacco free snus product, which contains nicotine extracted from tobacco plants. The company expects that the product will attract a large set of consumers owing to the convenience, flavor, and enjoyable experience it offers. The product is a part of company's "modern oral portfolio".

Similarly, in April 2020, Swedish Match announced its expansion in seven additional U.S. markets with its General Swedish snus. The product is available at convenience stores and tobacco outlets across New York, Los Angeles, Minneapolis, Phoenix, Denver, Nashville, and Ohio. The product is available in two flavors, including Nordic Mint and Classic Blend. These markets experience serious smoking restrictions, and thus is expected to open new avenues for snus products. The product is expected to fulfil consumers' demand for discrete, satisfying alternatives to traditional smokeless tobacco and cigarettes. Furthermore, in May 2018, NZ Smokeless Tobacco Co. launched NZ SNUS. The company sells the products through its online platform.

Grand View Research has segmented the global snus market on the basis of product and region:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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