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Snus Market Analysis:
The global Snus Market will touch USD 4.7 billion at a 4.80% CAGR by 2032, as per the latest Market Research Future report.
Drivers:
Ease of Application to Boost Market Growth
The growing appeal of snus can be attributed to its user-friendly nature, which is a crucial factor propelling the market. The product’s portability and easy-to-use feature, especially when compared to cigarettes that are restricted in public spaces and no-smoking areas due to the harmful effects of burning, has significantly contributed to the increased utilisation of snus.
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Opportunities:
Growing Popularity among Youths to offer Robust Opportunities
The increasing popularity of snus among young people can be credited to the proactive promotion of public awareness regarding the detrimental consequences of smoking and the comparatively less harmful nature of snus consumption. The snus industry’s introduction of snus boxes in vibrant colours, innovative designs, and appealing flavours like menthol, licorice, and vanilla, specifically targeted at the younger demographic, has resulted in a surge in snus usage among teenagers.
Restraints and Challenges:
Availability of Substitutes to act as Market Restraint
The easy availability of substitutes, stringent government policies, initiatives associated with tobacco ban, and rising health concerns may act as market restraints over the forecast period.
Market Segmentations:
The global snus market is bifurcated based on flavour and product.
By product, portion will lead the market over the forecast period.
By flavour, mint will domineer the market over the forecast period.
COVID-19 Analysis:
The use of tobacco and snus products has become a concern during the COVID-19 crisis, as they are known to increase the risk of contracting the virus due to hand-to-mouth contact. As a result, the global snus market has been negatively affected by the pandemic, as smokers are more vulnerable to infection and may be hesitant to purchase these products.
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Regional Analysis:
North America to Head Snus Market
North America will head the snus market over the forecast period. The US government’s efforts to decrease smoking rates by allowing the use of nicotine and tobacco replacements are predicted to greatly influence the growing popularity of snus in the region. Additionally, increased investments in developing new products in the area are likely to further stimulate market expansion. The actions taken by the US government to combat smoking by permitting alternatives such as nicotine and tobacco substitutes is expected to have a significant impact on the increasing use of snus in the region. Furthermore, an increase in investments for innovation and development of new products in this region is projected to propel market growth even more.
Europe to Have Admirable Growth in Snus Market
Europe will have admirable growth in the snus market over the forecast period for the widespread use and desirability of smokeless tobacco products among European nations, cultural preference for consuming oral tobacco, and the presence of established snus brands in the area. In addition, Germany holds the largest market share in terms of snus consumption while the UK has shown rapid growth in this market within Europe.
Key Players:
Eminent players profiled in the global snus market report include Swedish Match AB; BAT; AG Snus; Dacapo Silver AB; Altria Group, Inc.; GN Tobacco Sweden AB; Nordic Snus AB; Gordito Oü; Gotlandssnus; and Skruf Snus.
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