NEW YORK, July 1, 2024
/PRNewswire/ -- The global nicotine gum market size is estimated to
grow by USD 1.34 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 5.71% during the forecast period.
Increasing number of people trying to quit smoking is driving
market growth, with a trend towards growing new product launches
related to nicotine. However, health issues associated with smoking
cessation products poses a challenge. Key market players include
Alchem International Pvt. Ltd., Alkalon AS, British American
Tobacco Plc, Cambrex Corp., Cipla Inc., Dr Reddys Laboratories
Ltd., Enorama Pharma AB, Fertin Pharma AS, GlaxoSmithKline Plc,
Glenmark Pharmaceuticals Ltd., ITC Ltd., Johnson and Johnson
Services Inc., Leeford Healthcare Ltd., Lil Drug Store Products
Inc., Lucy Goods Inc., Major Pharmaceuticals Inc., Perrigo Co. Plc,
Rogue Holdings LLC, Trumac Healthcare, and Walgreens Boots Alliance
Inc..
Get a detailed analysis on regions, market
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Nicotine Gum Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.71%
|
Market growth
2024-2028
|
USD 1349.1
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.07
|
Regional
analysis
|
North America, Europe,
APAC,South America,
and Middle East and Africa
|
Performing market
contribution
|
APAC at 31%
|
Key
countries
|
US, Germany, France,
China, and UK
|
Key companies
profiled
|
Alchem International
Pvt. Ltd.,Alkalon AS, British
American Tobacco Plc, Cambrex Corp., Cipla Inc.,
Dr Reddys Laboratories Ltd., Enorama Pharma
AB, Fertin Pharma AS, GlaxoSmithKline Plc,
Glenmark Pharmaceuticals Ltd., ITC Ltd., Johnson
and Johnson Services Inc., Leeford Healthcare
Ltd., Lil Drug Store Products Inc., Lucy Goods
Inc., Major Pharmaceuticals Inc., Perrigo Co. Plc,
Rogue Holdings LLC, Trumac Healthcare,
and Walgreens Boots Alliance Inc.
|
Market Driver
New product launches, such as Perrigo Company plc's
nicotine-coated mint lozenges, contribute significantly to revenue
growth and market expansion in the nicotine gum market. These
lozenges, approved by the US FDA in May
2023, are anticipated to generate sales comparable to
national brand products, which reached approximately USD20 million in the previous year. By addressing
the needs of consumers attempting to quit smoking, these product
launches will positively impact the global nicotine gum market
during the forecast period.
The Nicotine Gum market is currently experiencing significant
growth, with various companies producing and distributing this
product. Consumers are increasingly turning to nicotine gum as a
tobacco alternative, particularly in regions with strict smoking
regulations. The use of chewing gum technology has made nicotine
gum a convenient and discreet option for those seeking to quit
smoking or reduce their nicotine intake. The market is also driven
by the availability of different flavors and dosages to cater to
diverse consumer preferences. Additionally, the ongoing research
and development in nicotine delivery systems are expected to
further boost market growth. Overall, the nicotine gum market is a
promising business opportunity for companies looking to capitalize
on the growing demand for tobacco alternatives.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The nicotine gum market may experience hindrances due to
growing concerns regarding the health risks associated with its
long-term use. Nicotine gums can lead to various health issues,
including hair loss, skin irritation, elevated blood pressure,
irregular heartbeat, insulin resistance, gastrointestinal problems,
and nausea. Additionally, users may experience teeth and jaw
problems from continuous chewing. Nicotine patches present skin
irritation, itching, dizziness, and headaches as potential side
effects. Research reveals that e-cigarettes, a popular smoking
cessation alternative, contain toxic ingredients like propylene
glycol and vegetable glycerin, and produce harmful chemicals such
as acetaldehyde, acrolein, and formaldehyde. These chemicals can
lead to lung and cardiovascular diseases, including acute lung
injury and chronic obstructive pulmonary disease (COPD).
Consequently, the health risks associated with nicotine gums and
other smoking cessation products may negatively impact market
growth during the forecast period.
- The Nicotine Gum market faces several challenges in the current
industry landscape. One significant challenge is the increasing
competition from other nicotine replacement therapies, such as
patches and lozenges. Additionally, stringent regulations imposed
by health authorities continue to pose a challenge, requiring
companies to adhere to strict guidelines for manufacturing and
marketing. Furthermore, consumer preferences and trends shift
frequently, making it essential for businesses to stay updated and
adapt to new market demands. Lastly, the high cost of research and
development for new nicotine gum products can be a significant
barrier to entry for new players in the market.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This nicotine gum market report extensively covers market
segmentation by
- Product
- 1.1 2-mg nicotine
- 1.2 4-mg nicotine
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 2-mg nicotine- The Nicotine Gum Market is
experiencing steady growth due to increasing consumer awareness
about oral health and nicotine replacement therapy. This market
caters to smokers seeking to quit or reduce their nicotine intake.
Major players include Wrigley, Pfizer, and GlaxoSmithKline. They
invest in research and development to produce effective and safe
gum formulations. Regulations by health organizations ensure
product quality and safety. The market size is anticipated to
expand, driven by rising health consciousness and availability of
various nicotine gum brands.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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Research Analysis
The Nicotine Gum Market encompasses the production,
distribution, and consumption of nicotine gums as tobacco
consumption cessation aids. These gums contain nicotine, a harmful
chemical found in tobacco products, which helps manage nicotine
cravings during the process of quitting smoking. Nicotine gums are
available in various forms, including long-lasting gums, and are
often used in conjunction with healthcare professionals'
recommendations for nicotine cessation. Nicotine gums are essential
smoking cessation aids that help mitigate the risks of lung cancer,
cardiac diseases, and respiratory disorders associated with tobacco
use. The market for nicotine gums has seen significant growth due
to increasing health awareness and the promotion of tobacco-free
alternatives. Other nicotine products, such as patches, are also
popular in the market. Health organizations and pharmacies play a
crucial role in providing access to these products, ensuring their
availability to those seeking to quit smoking. Despite their
benefits, nicotine gums should be used under the guidance of
healthcare professionals due to their potential addictive
properties. The use of nicotine gums is an effective strategy for
managing nicotine cravings and reducing the harm caused by tobacco
smoke. By providing a safer alternative to smoking, nicotine gums
contribute to the overall goal of improving public health and
reducing the burden of tobacco-related diseases.
Market Research Overview
The Nicotine Gum Market refers to the global trade of nicotine
gum products. These gums are designed to deliver nicotine to the
body through the process of chewing, acting as an alternative to
smoking cigarettes. The market for nicotine gum is driven by the
growing awareness of the health risks associated with smoking and
the need for effective nicotine replacement therapies. The gums
come in various flavors and strengths to cater to diverse consumer
preferences. The market is segmented based on regions, types, and
distribution channels. The use of advanced technologies in the
production of nicotine gums is a key trend in the market. The
market is expected to grow at a significant CAGR during the
forecast period. Consumers are increasingly opting for nicotine
gums as a healthier alternative to smoking cigarettes, driving
market growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- 2-mg Nicotine
- 4-mg Nicotine
- Distribution Channel
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio