Snus Market Analysis, Size, Growth, Share, Outlook & Forecast to 2027
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. 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. 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”.