Rockville, MD -- (SBWire) -- 10/18/2017 --Being a low-toxicant smokeless product, snus has been proved to be less harmful compared to smoking. Originated in Sweden, snus is more popular today, meanwhile, its consumption is also increasing in various other countries. With increasing consumption, manufacturers are also introducing new flavors. Researchers have also suggested that snus does not increase the risk of chronic diseases that are associated with smoking cigarette. However, snus has been associated with oral cancer. The production standards of snus also differ in various countries, for instance, snus production standards and ingredients used are different in the U.S. compared to the ingredients and production standards in Sweden. Moreover, manufacturers of snus in the U.S. are also using an increased amount of sweeteners.
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Manufacturers are growing their customer base by creating awareness among the people on how snus is less harmful as compared to smoking cigarette. Manufacturers are also adopting lawful labor practices, focusing on quality and health assurance of the product in order to comply with regulations on snus production.
According to the report by Fact.MR, the global snus market is expected to witness robust growth. The market is projected to register 7.5% CAGR during the forecast period 2017-2022. Being a low-risk nicotine product, snus has contributed to the decline in smoking and smoking-related diseases. The nicotine content of snus varies among brands, however, manufacturers have started producing strong and extra strong varieties with increased nicotine content. Following insights show how the global snus market will perform in the next five years.
5 Forecast Highlights on Global Snus Market
1. Europe is expected to dominate the global snus market during 2017-2022. Europe snus market is projected to reach nearly US$ 600 million revenue by the end of 2022. Sweden represents the largest market for snus, followed by Denmark and Germany. Moreover, increasing number of people in Sweden consume snus. Hence, the snus market in Europe will witness significant growth
2. North America is also expected to witness significant growth in the snus market. Owing to the less harmful effects than smoking, the consumption of snus is increasing in North America. Moreover, tobacco retailers in the North America have also started to stock Swedish snus, which was earlier available only through mail order in the region.
3. Original regular strength-large portion snus is expected to be the most preferred snus product. By the end of 2022, Original regular strength-large portion snus is projected to reach nearly US$ 600 million revenue.
4. Compared to various flavors of snus, original snus is expected to witness impressive growth. Accounting for nearly two-fifth of the market share by the end of 2017, original snus is projected to create an incremental opportunity of more than US$ 100 million between 2017 and 2022.
5. Snus packed in films and wraps is expected to witness significant growth during the forecast period. Films and wraps are projected to reach nearly US$ 500 million revenue by the end of 2022. Meanwhile, pouches are also expected to witness healthy growth during 2017-2022.
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The report has also profiled leading players in the global market for snus, which will remain active through 2022. These include companies such as Altria Group, Inc., British American Tobacco p.l.c, Imperial Brands PLC, Swedish Match AB (publ), GN Tobacco Sweden AB, Gotlands Snus Ab, Hay Island Holding Corporation, Japan Tobacco Inc., Manikchand Group, and DS Group.
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5 Key Takeaways from Fact.MR's Report on Snus Market for Forecast Period 2017 - 2022
As per the latest report by Fact.MR, the global market for snus is estimated to reach US$ 1,408.4 million revenue by 2022 end.