Wilmington, Delaware, United States, May 16, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global nicotine pouch market stood at US$ 3.6 billion in 2022 and the global market is projected to reach US$ 5.5 billion by 2031. The global industry is anticipated to expand at a CAGR of 5.1% between 2023 and 2031.
The market value of nicotine pouches is increasing, owing to the increasing health consciousness. Many smokers are looking for alternatives to traditional cigarettes, as people become increasingly health-conscious. Nicotine pouches offer a smoke-free and convenient option for individuals who want to satisfy their nicotine cravings without the harmful effects of smoking.
The rising smoking prevalence is another significant factor contributing to the market growth. Despite widespread efforts to reduce smoking rates, tobacco use remains prevalent in many parts of the world. The availability of nicotine pouches provides an opportunity for smokers to transition to a less harmful form of nicotine use.
Get the Recently Updated Report on the Nicotine Pouch Market as a Sample Copy at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84392
The market prospects have been driven by factors such as the increase in government regulations. Governments, in many countries are imposing stricter regulations on traditional tobacco products, such as cigarettes, which has led to a shift towards alternative nicotine products like nicotine pouches, which are often subject to less stringent regulations.
The growth of the Nicotine Pouch market is also rising, attributed to convenience and discretion. Nicotine pouches are small, discreet, and easy to use, making them a popular choice for people who want to use nicotine without drawing attention to themselves. The pouches can be used in a variety of settings, including workplaces and public spaces where smoking is prohibited.
Key Findings of the Market Report
- By type, mint flavored nicotine pouches are likely to be most preferred, expected to expand at a significant share, attributed to the popularity of mint as a flavor in the tobacco industry.
- Based on price, the US$ 2 - US$ 4 segment holds a significant market share, due to affordable pricing. Nicotine pouches in this price range are affordable for most consumers, making them accessible to a wider audience and driving demand.
- By distribution channel, online segment is expected to boost the market growth, attributed to the factors including the rise of e-commerce and increasing internet penetration.
Global Nicotine Pouch Market: Growth Drivers
- The global Nicotine Pouch market is projected to expand at a steady pace from 2023 to 2031, due to the increasing availability of the pouches, as they can be purchased in stores and online, making them accessible to a broader range of consumers.
- Another factor that is projected to augment the market growth includes the increasing innovative product development.
- Additionally, the rising awareness regarding the health risks, as well as the growing demand for organic and natural products are the major factors that are anticipated to fuel the market prospects in the near future.
Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=84392
Global Nicotine Pouch Market: Regional Landscape
- Europe is expected to dominate the Nicotine Pouch market during the forecast period, attributed to increasing awareness regarding the harmful effects of smoking.
- The regional market is witnessing an increase, due to the factors such as the rising stringent regulations on smoking.
- Rising popularity of snus, and increasing innovation in the nicotine pouches, in the region, are also anticipated to escalate the growth of the regional market over the analysis period.
Global Nicotine Pouch Market: Key Players
Some of the key market players in the global Nicotine Pouch market are:
- British American Tobacco (VELLO)
- Swedish Match (ZYN)
- Skruf
- Nordic Spirit
- Rogue
- 77 Nicotine pouches
- Genmist
- Stockholm White
- NIIN
- Triumph Chew
Competitive Landscape
Prominent players in the Nicotine Pouch industry are taking advantage of the rapidly increasing demand for Nicotine Pouch. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
- In 2022, LYFT launched a new variant of its nicotine pouches in mint flavor. The product contains a mix of spearmint and peppermint flavors and is available in both slim and regular sizes.
- In 2021, Swedish Match, a major player in the nicotine pouch market, launched two new nicotine pouch products in the US market, Zyn Spearmint and Zyn Apple.
- In 2021, the company Swedish Match launched a new product called Zyn Spearmint Slim, which features a new slim pouch format and a spearmint flavor.
- In 2020, the company Altria Group announced that it would be expanding its presence in the nicotine pouch market by launching two new brands, Verve and ON!, in the US market.
- In 2020, the company British American Tobacco launched a new nicotine pouch brand called Velo in Canada, which features a range of flavors including mint, citrus, and berry.
Key Points from TOC:
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Market Dynamics
5.1.1. Drivers
5.1.2. Restraints
5.1.3. Opportunities
5.2. Key Trends Analysis
5.2.1. Demand Side Analysis
5.2.2. Supply Side Analysis
5.3. Key Market Indicators
5.4. Porter’s Five Forces Analysis
5.5. Value Chain Analysis
5.6. Industry SWOT Analysis
5.7. COVID-19 Impact Analysis
5.8. Global Nicotine Pouch Market Analysis and Forecast, 2017 - 2031
5.8.1. Market Value Projections (US$ Bn)
5.8.2. Market Volume Projections (Thousand Units)
6. Global Nicotine Pouch Market Analysis and Forecast, by Type
6.1. Global Nicotine Pouch Market Size (US$ Bn) (Thousand Units), by Type, 2017- 2031
6.1.1. Fruit Flavor
6.1.2. Mint Flavor
6.1.3. Others (Coffee Flavor, etc.)
6.2. Incremental Opportunity, by Type
TOC Continued……
Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=84392<ype=S
Global Nicotine Pouch Market: Segmentation
Type
- Fruit Flavor
- Mint Flavor
- Others (Coffee Flavor, etc.)
Price
- Below US$ 2
- US$ 2 - US$ 4
- Above US$ 4
Distribution Channel
- Online
- Company owned website
- E-commerce websites
- Offline
- Hypermarkets & Supermarkets
- Convenience stores
- Retail stores
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
