Nicotine Pouches Market Growth & Trends
The global nicotine pouches market size is expected to reach USD 22.98 billion by 2030, registering a CAGR of 35.7% over the forecast period, according to a new report by Grand View Research, Inc. The increased awareness about nicotine pouches among people looking to stop smoking is propelling the industry’s growth. Nicotine pouches offer adult tobacco users satisfying and socially acceptable alternatives to cigarettes, which is propelling demand for such products. Over the last decade, the proportion of men and women who smoke has fallen considerably in European countries due to the rapid shifttoward nicotine pouches. Oral nicotine pouches, whether tobacco-based or synthetic, are becoming increasingly popular among consumers.
Tobacco-derived nicotine pouches accounted for the prominent share in 2021, but demand for synthetic nicotine pouches is expected to expand at a rapid pace over the forecast period. A growing number of product launches in this segment is likely to support segment growth. For instance, in November 2020, 2one Labs Inc. launched non-tobacco-derived nicotine pouches. Next Generation Lab’s patented TFN non-tobacco nicotine is used in the production of 2 one nicotine pouches. Flavored nicotine pouches had a larger revenue share in 2021, while original/unflavored nicotine pouches are predicted to expand at a rapid pace. A high preference for pure nicotine among U.S.-based consumers is driving up sales of unflavored nicotine pouches in North America. Nicotine pouches are available in a variety of flavors, including fruity, minty, coffee and others.The industry is consolidated with the presence of a large number of international players and a few regional players.
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Nicotine Pouches Market Report Highlights
Europe accounted for a majority of the revenue share in 2021 owing to the increased manufacturer’s concentration in the region
The synthetic nicotine pouches segment is expected to witness the fastest CAGR over the forecast period
This can be credited to an increased number of nicotine product launches with synthetic nicotine
The flavored segment is expected to account for a significant revenue share by 2030 as flavor plays a vital role in drawing youth to tobacco products, more than 80% of the young population began with a flavored product
The offline segment is estimated to account for the largest revenue share in 2021; however, the online segment is anticipated to witness the fastest CAGR during the forecast period
Increasing online sales of nicotine pouches in the European countries supports the segment growth
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