The global nicotine gum market size is expected to reach USD 2.0 billion by 2030, registering a CAGR of 5.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market expansion is anticipated to be fueled by the increasing awareness of the health risks associated with smoking and the increasing availability and acceptance of nicotine replacement therapy. In addition, over the coming years, increased consumer awareness of the importance of nicotine replacement therapies is anticipated to drive demand.
Nicotine Gum Market Report Highlights
· The 2mg segment held the largest share of 55.9% in 2022. 2mg nicotine gums are an effective solution for managing nicotine cravings and reducing withdrawal symptoms. They work by providing the body with a small dose of nicotine, which helps to alleviate the physical symptoms of withdrawal that often occur when a person stops smoking
· However, the 4mg segment is expected to grow at the fastest CAGR of 6.0% over the forecast period owing to increasing depression and anxiety among the young population which is resulting in an increased number of heavy smokers
· The pharmacy segment held a significant share of 38.4% in 2022. Buying nicotine gum from a pharmacy provides a certain level of confidentiality for those who are trying to quit smoking or manage their nicotine cravings and require some input from the pharmacists with regard to the variety of products available and their benefits over others
· The online segment is expected to grow at the highest CAGR of 6.9% during the forecast period. Shopping for nicotine gum through online distribution channel allows consumers to easily compare prices, features, and reviews of different products. This helps them make an informed decision about which product to buy, ensuring that they get the best value for their money
· North America held the highest market share of 29.9% in 2022. The presence of various leading market players in the region is a major factor contributing to the market growth. Also, a rise in health-conscious consumers due to government initiatives and campaigns promoting healthy lifestyles is further driving the market growth in the region. According to the Centers for Disease Control and Prevention (CDC), the smoking rate in the U.S. is approximately 14% as of 2021, which is a significant decline from the 20.9% reported in 2005
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People are looking towards nicotine replacement therapy (NRT), including nicotine gums, as a way to quit smoking as it has been an effective tool for managing nicotine cravings and reducing withdrawal symptoms. NRT works by providing the body with a small dose of nicotine, which helps to alleviate the physical symptoms of withdrawal that often occur when a person stops smoking.
Additionally, many people are aware of the social stigma associated with smoking and want to quit in order to improve their health and well-being. Quitting smoking can lead to numerous health benefits, including a reduced risk of heart disease, lung cancer, and other health problems.
In recent years, there has been a significant shift in public attitudes toward smoking. Smoking is no longer seen as a socially acceptable habit, and many workplaces and public spaces have implemented smoking bans. As a result, many people are feeling more motivated than ever to quit smoking and are turning to NRT products like nicotine gum to help them achieve their goals.
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Segmented the global nicotine gum market based on type, distribution channel, and region:
Nicotine Gum Type Outlook (Revenue, USD Million, 2017 - 2030)
· 2mg
· 4mg
Nicotine Gum Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
· Supermarkets/Hypermarkets
· Convenience Stores
· Pharmacies
· Online
Nicotine Gum Regional Outlook(Revenue, USD Million, 2017 - 2030)
· North America
o U.S.
o Canada
· Europe
o U.K.
o Germany
o France
o Italy
o Spain
· Asia Pacific
o China
o India
o Japan
o South Korea
· Latin America
o Brazil
o Mexico
o Argentina
· Middle East & Africa
o UAE
o South Africa
List of Key Players in the Nicotine Gum Market
· Johnson & Johnson
· Novartis AG
· ITC Limited
· Cipla Health Limited
· Perrigo Company Plc.
· Teva Canada
· Philip Morris
· British American Tobacco PLC
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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