As public health awareness continues to grow, the novel tobacco industry has seen rapid development in recent years. Major multinational tobacco corporations are vigorously entering the novel tobacco sector, with some companies even integrating these new products into their long-term strategic plans as a replacement for traditional cigarettes.
One of the most competitive areas within the novel tobacco industry is modern nicotine pouches. For example, Philip Morris International made a significant acquisition of Swedish Match for a staggering $16 billion, one of the key factors being Swedish Match's ownership of the "Zyn" nicotine pouch brand. This brand has become the world's best-selling nicotine pouch. In the fourth quarter of 2023, Zyn's sales reached 116.3 million cans, a year-over-year increase of 78.2%.
Other international tobacco companies, such as British American Tobacco with their "Velo," Altria Group's "On!," and Japan Tobacco's "Nordic Spirit," are also actively expanding their nicotine pouch brands into the global market, significantly boosting company performance.
At present, the regulatory policies of most countries and regions around the world regarding nicotine pouches are not well-defined, leaving the industry in a gray area. This has allowed the nicotine pouch market to grow more quickly than anticipated, potentially becoming the next booming novel tobacco subcategory following vaping.
Chewing Tobacco Market: Trends and Growth Opportunities
According to the latest research report by market research and consulting firm Maximize Market Research Pvt Ltd, the global nicotine pouch market is projected to reach nearly $23.6 billion by 2030. From 2024 to 2030, the industry is expected to maintain a remarkable compound annual growth rate of 35.8%, indicating a vast market potential.
Nicotine pouches, which have their origins in Swedish snus, were introduced to the American market by Swedish Match in 2014. Due to their harm reduction and smokeless nature, this category has developed rapidly and has spurred robust market growth in Europe and America. Currently, major multinational tobacco companies and independent nicotine pouch brands are actively exploring emerging markets in Southeast Asia and Africa to establish early advantages.
It is undeniable that the demand for nicotine pouches is ever-increasing. We provide OEM and ODM services of high quality nicotine pouches,Please feel free to contact us at any time for inquiries.
Post time:Sep-25-2020
