Apr 02, 2020 (The Expresswire) -- Global Snus Market 2020 report is a professional and in-depth research report on the world’s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific). It covers the market landscape and its growth prospects over the coming years. Snus Market report also includes a discussion of the Key Vendors operating in this Global market.
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Snus Market Insight
The global snus market is projected to grow at the rate of 4.2% during the forecast period 2018 to 2023. Growing consumption of snus as an alternative for cigarette and increasing popularity of smokeless tobacco products across the globe is playing key role to drive the snus market. Key players are investing to create awareness about their products that have less health-damaging properties and a better alternative for cigarettes. For instance, in 2015, Swedish Match opened many stores in Strömstad and Gothenburg. The company stocked the snus store with its world-renowned snus products. They also deployed store staff members to create awareness about the benefits of consuming snus over other tobacco products. Moreover, according to CDC (Centers for Disease Control and Prevention), total combustible tobacco consumption decreased 33.5%, or 43.7% per capita, whereas total consumption of smokeless tobacco increased 23.1%, or 4.2% per capita during the period 2010 to 2015 which is expected to drive the market growth in upcoming years.
Growing Demand of Smokeless Tobacco Products to Drive the Snus Market Growth
Growing acceptance of loose snus and portion snus as an alternative for cigarette is driving the market growth. Convenience in consumption of portion snus bag is one of the major reason consumers are preferring portion snus products over cigarette. For instance, Norway is witnessing significant growth in consumption of smokeless tobacco especially in snus form due to changing consumer preference. Intake of smokeless tobacco especially snuff and snus products are also identified to be high among the millennial population in countries especially in India and Bangladesh which is influencing sales of snus in Asia-Pacific region. Moreover, government rules and regulations with respect to smoking and contaminating the environment, which has triggered the demand for smokeless products among the users. Hence, consumers are preferring snus over other smokeless tobacco products as it is easily available and affordable for price sensitive consumers.
Loose snus to Witness Fastest Growth Rate during the Forecast Period
Loose snus holds significant market share due to easy availability and lower cost as compared to portion snus. Growing demand of loose snus majorly among the tobacco consumers in Sweden, Norway, Poland, and US is also influencing the market growth. Popularity of consumption of smokeless tobacco among the daily wage workers, is projected to be high due to the low cost and high production capacity of tobacco in the developing country. Point of sales for loose snus products from supermarket and tobacco stores were identified to be abundant in Asia Pacific region. Increasing attention of youth population though customer-oriented tobacco packaging including stickers, posters at the point of sales is likely to impact the market growth.
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Norway to Witness Significant Growth the Europe Snus Market
Europe holds significant market share in snus market across the globe. In Sweden, the number of snus users has been growing and has surpassed the number of cigarette users which is playing key role to drive the snus market growth in the Europe region. The growth of market in the Asia-Pacific is anticipated to be driven by governments initiatives to reduce the cigarette consumption by increasing prices and imposing additional taxes on cigarette. For instance, impending tax increase in Japan and India affecting on traditional cigarettes sales which is creating big opportunity for the growth snus products. In Asia-Pacific, India is one of the prominent destinations of the snus market. In India, smokeless tobacco products including snus are illegal but the consumption of smokeless tobacco in the rural area is high which is playing key role to drive the market growth in Asia-Pacific region. At the same time, there is a growing understanding of the continuum of risk concept and an evidence-based approach of government towards tobacco and nicotine products regulations is restraining the market growth at some extent across the globe.
Key Developments in the Snus Market
• Jan 2017 - Imperial Brands, in partnership with China National Tobacco (CNTC), established a joint venture, Global Horizon Ventures Limited (GHVL), based in Hong Kong. The transaction enhances the group long-term earnings potential and competitive position in the growing smokeless tobacco market
• Mar 2018 - Swedish Match acquires House of Oliver Twist A/S, a privately held Danish smokeless tobacco company. The company develops, produces and sells chewing tobacco bits made of processed tobacco strands under the brand Oliver Twist. The main markets of the company are in Scandinavia and certain other European countries.
Competitive Landscape of Snus Market
Snus Market Major Key Players - Altria Group, Inc., Arnold André GmbH and Co. KG, British American Tobacco plc , Gajane AB, GN Tobacco Sweden AB, Gotlands Snus AB, Imperial Brands PLC, JT International AG, MAHAK Group, Reynolds American Inc.Swedish Match AB and V2 Tobacco A/S, among others.
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Reasons to Purchase Snus Market Research Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Snus Market Research Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Key Factors Involved in the Report: -
Snus Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2023.
Snus Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
Snus Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of Snus industry.
The global Snus market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Snus Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
Snus Market Report also mentions market share accrued by each product in the Snus market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Some of Toc Points in Snus Market Report are:-
1.1 Scope of Study
1.2 Study Deliverables
1.3 Study Assumptions
1.4 Research Phases
2. Snus Market Insights
2.1 Market Overview
2.2 Market Trends
2.3 Industry Attractiveness Porters Five Forces Analysis
2.3.1 Bargaining Power of Suppliers
2.3.2 Bargaining Power of Consumers
2.3.3 Threat of New Entrants
2.3.4 Threat of Substitute Products and Services
2.3.5 Degree of Competition
3. Snus Market Dynamics
4. Snus Market Segmentation
4.1.1 Loose snus
4.1.2 Portion snus
4.2 Distribution Channel
4.2.2 Convenience store
4.2.3 Tobacco store
5. Snus Market By Geography
5.1 North America Snus Market Size (2018-2023)
5.1.1 US Snus Market Size (2018-2023)
5.1.2 Canada Snus Market Size (2018-2023)
5.1.3 Mexico Snus Market Size (2018-2023)
5.1.4 Rest of North America Snus Market Size (2018-2023)
5.2 Europe Snus Market Size (2018-2023)
5.2.1 Spain Snus Market Size (2018-2023)
5.2.2 UK Snus Market Size (2018-2023)
5.2.3 Germany Snus Market Size (2018-2023)
5.2.4 France Snus Market Size (2018-2023)
5.2.5 Italy Snus Market Size (2018-2023)
5.2.6 Russia Snus Market Size (2018-2023)
5.2.7 Rest of Europe Snus Market Size (2018-2023)
5.3 Asia-Pacific Snus Market Size (2018-2023)
5.3.1 China Snus Market Size (2018-2023)
5.3.2 Japan Snus Market Size (2018-2023)
5.3.3 India Snus Market Size (2018-2023)
5.3.4 Australia Snus Market Size (2018-2023)
5.3.5 Rest of Asia-Pacific Snus Market Size (2018-2023)
5.4 Rest of the world Snus Market Size (2018-2023)
5.4.1 South America Snus Market Size (2018-2023)
5.4.2 Middle East Snus Market Size (2018-2023)
5.4.3 Africa Snus Market Size (2018-2023)
6. Competitive Landscape
6.1 Most Active Companies
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
7. Company Profiles
7.1 Swedish Match AB
7.2 Altria Group, Inc.
7.3 British American Tobacco plc
7.4 Imperial Brands PLC
7.5 Reynolds American Inc.,
7.6 Arnold André GmbH and Co. KG
7.7 GN Tobacco Sweden AB
7.8 Gajane AB
7.9 Gotlands Snus AB
7.10 JT International AG
7.11 MAHAK Group
7.12 V2 Tobacco A/S
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