Nicotine Gum Market Size, Share and Trends Analysis Report 2030

Nicotine Gum Market Synopsis:

As per the analysis by Market Research Future (MRFR), the global Nicotine Gum Market Size is estimated to acquire market value of USD 2.055 Billion expanding at a CAGR of 4.6% by 2030. The growing addiction to smoking, with rising health awareness, is estimated to be one of the most significant factors driving the global nicotine gum market. The growing demand from medical institutions and rehab clinics for the purpose of nicotine cessation across the globe is estimated to grow the market substantially during the forecast period. Further, the increasing initiatives taken by the government to control tobacco consumption is another major factor leading to market growth. Besides, the increasing tobacco advertising and promotion, stringent rules imposed to control public smoking, measures to curb smuggling, health education campaigns, and the health warning advertisement on tobacco products are some of the most significant factors driving the global nicotine gum market. In addition, the rising incidence of lung cancer and other respiratory ailments is one of the primary factors driving the growth of the market. Moreover, the large-scale adoption of smoking cessation therapies is projected to be another growth-inducing factor.

Regional Analysis:

Based on the region, the global nicotine gum market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World (RoW). As per the studies, the global market is estimated to be dominated by North America. North America is estimated to witness a rise in the percentage of health consciousness consumers backed by the initiatives taken by the government. Further, the increasing campaign in the region is another important factor in boosting the regional market. Besides, the presence of various established key players in the region is anticipated to drive the market further. In North America, the US is estimated to hold the largest market share. The region held a market share of 35.46% in 2018 and is likely to maintain its position throughout the forecast period.

The APAC region is anticipated to grow the market at the fastest rate during the forecast period owing to the increasing awareness of health, along with the rising campaigns across the region. Further, the availability of private label cigarettes in the region is likely to cause more harm than ordinary cigarettes are estimated to create further opportunities for expansion in the region. Besides, the adverse health issues among consumers are additionally driving the nicotine gum in the APAC region.

Europe is estimated to witness a significant rise in the market owing to the increased health awareness and the growing addiction towards smoking. Further, the health-related campaigns are projected to expand the regional market in the coming period additionally.

Market Segmentations:

The segment analysis of the global Nicotine Gum Market Overview is done by dosage, flavor, distribution channel, and region.

The dosage-based segments of the global nicotine gum market are 2mg, 4mg, and others.

The flavor-based segments of the global nicotine gum market are plain and flavored.

The distribution channel-based segments of the global nicotine gum market are store-based and non-store-based. The store-based segment is further bifurcated into supermarkets & hypermarkets, specialty stores, and others.

The regions-based segments of the global nicotine gum market are North America, Europe, Asia-Pacific, and the rest of the world.

Key Players:

The renowned players of the global nicotine gum market are Perrigo Company Plc (Ireland), Novartis AG (Switzerland), Pfizer Inc. (US), GlaxoSmithKline Plc (UK), Fertin Pharma A/S (Denmark), Cipla Inc. (India), Cambrex Corporation (US), Johnson & Johnson (US), ITC Limited (India), and British American Tobacco plc (UK).

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About Market Research Future:

Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.

Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.

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