IMARC Group, a leading market research company, has recently released a report titled “Nicotine Gum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global nicotine gum market share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Nicotine gum refers to an over the counter (OTC) smoking cessation product. It aims to help individuals suffering from tobacco dependence in reducing their consumption of cigarettes and eventually quit smoking. Nicotine gum is manufactured by using softeners, sweeteners, flavorings, etc. It aids in minimizing the withdrawal symptoms and urge to smoke. Nicotine gum also assists in preventing overeating. Some of the product variants are commonly available based on the nicotine content. They are easily accessible via retail pharmacies, specialty stores, online stores, etc. Nicotine gum is extensively utilized in withdrawal clinics across the globe.
How big is the global nicotine gum market?
The global nicotine gum market size reached US$ 1.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.
Current Trends Shaping the Global Nicotine Gum Market
The increasing instances of lung cancer and other respiratory disorders are primarily driving the nicotine gum market. Additionally, the growing consumer awareness towards coronary heart disease (CHD), stroke, oropharyngeal cancer, esophageal cancer, tuberculosis, rheumatoid arthritis, and numerous immunity-related ailments that are caused, owing to smoking, is further catalyzing the market growth. Besides this, the introduction of nicotine lozenges to prevent irritability, nervousness, headache, weight gain, and difficulty concentrating is acting as another significant growth-inducing factor.
Moreover, the launch of favorable policies by government bodies and non-government organizations (NGOs) for promoting the use of smoking cessation products, such as nicotine gums, to limit tobacco consumption is positively influencing the global market. Apart from this, the development of attractive wrappers, family-sized packs, and resealable packaging by leading manufacturers is also stimulating the market growth. Furthermore, the inflating popularity of product variants for various age groups is anticipated to fuel the nicotine gum market over the forecasted period.
Who are the key players operating in the industry?
The report covers the major market players including:
- British American Tobacco,
- Cambrex Corporation,
- GlaxoSmithKline,
- ITC Limited,
- Johnson & Johnson Services,
- Novartis, Perrigo,
- Pfizer,
- Takeda Pharmaceutical Company, etc.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- 2 Mg Nicotine Gum
- 4 Mg Nicotine Gum
- 6 Mg Nicotine Gum
Breakup by Application:
- Withdrawal Clinics
- Medical Practice
- Individual Smokers
- Others
Breakup by Distribution Channel:
- Retail Pharmacies
- Specialty Stores
- Online Stores
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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