• April 16, 2024

Snus Market Expected to Reach $1.7 Billion

 Snus Market Expected to Reach $1.7 Billion
Photo: Swedish Match

Estimated at $1.1 billion in 2020, the global market for snus is projected to reach $1.7 billion by 2027, according to a new report. This represents a compound annual growth rate (CAGR) of 6.2 percent over the period.

“Original,” one of the segments analyzed in the report, is projected to grow at a 6.4 percent CAGR to $715.6 million by the end of the analysis period. After an early analysis of the business implications of the Covid-19 pandemic and the related economic crisis, the “fruit” segment is estimated to grow at 7.2 percent CAGR for the next seven-year period. This segment currently accounts for a 19.2 percent share of the global snus market.

The snus market in the U. S. is estimated at $317.2 million in 2020. The country currently accounts for 28.9 percent of global snus sales. China’s snus market is forecast to reach an estimated market size of $309.5 million by 2027.

Other noteworthy snus markets are Japan and Canada, forecast to grow at 3.4 percent and 5.6 percent respectively from 2020 to 2027. Germany is forecast to grow at approximately 4 percent CAGR while the rest of the European market (as defined in the study) will reach $309.5 million by 2027.