Dublin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The "Tobacco Alternative Gums Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The tobacco alternative gums market size has grown strongly in recent years. It will grow from $2.69 billion in 2023 to $2.89 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The tobacco alternative gums market size is expected to see strong growth in the next few years. It will grow to $3.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
The growth observed in the historic period can be attributed to several factors, including heightened awareness of health risks associated with smoking, stringent government regulations, initiatives aimed at smoking cessation, advancements in gum technology, expansion of the smoking cessation market, and increasing consumer demand for alternative products. 
The anticipated growth in the forecast period can be attributed to increasing health awareness, innovations in product formulations, expanding market for smoking cessation products, changing consumer preferences, and evolving regulatory environments. Key trends expected during this period include enhanced delivery systems through technological advancements, integration with digital tools and applications, a wider variety of flavors and natural ingredients, growing market size for smoking cessation products, supportive regulatory frameworks, and government policies.
The tobacco alternative gums market is poised for growth due to increasing awareness of the dangers of smoking. Smoking dangers encompass harmful health effects from inhaling tobacco smoke, and heightened awareness results from extensive public health campaigns, scientific research advancements, and stringent policy changes. These efforts collectively educate the public and reduce smoking rates. Tobacco alternative gums offer a nicotine-free substitute that helps mitigate cravings and withdrawal symptoms without the harmful effects of tobacco smoke. For instance, major tobacco producers reported an 8.8% reduction in cigarette sales in 2022 compared to 2021, according to the Federal Trade Commission, highlighting the trend driving growth in the tobacco alternative gums market.
Leading companies in the tobacco alternative gums market are pursuing strategic partnerships to enhance product innovation and expand market reach. Strategic partnerships involve collaborative relationships where organizations pool resources, expertise, and efforts to achieve shared goals. For example, Ryze, a nicotine gum brand by Fertin Pharma, partnered with 100Days.co, a digital commerce specialist in India, in May 2024 to launch and grow its presence in India. Ryze aims to promote healthier lifestyles by offering nicotine gums in flavors tailored to the Indian market, including mint, fruit, saunf, pudina, and paan, supporting smokers in quitting and improving their well-being.
North America was the largest region in the tobacco alternative gums market in 2023. The regions covered in the tobacco alternative gums market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the tobacco alternative gums market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $2.89 Billion |
| Forecasted Market Value (USD) by 2028 | $3.87 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
Competitive Landscape and Company Profiles
- CVS Health Corporation
- Overview
- Products and Services
- Strategy
- Financial Performance
- The Kroger Co.
- Walgreens Boots Alliance Inc.
- Pfizer Inc.
- Johnson & Johnson
Other Major and Innovative Companies
- Novartis AG
- GlaxoSmithKline plc
- Takeda Pharmaceutical Company Limited
- Philip Morris International Inc
- Rite Aid Corporation
- Meijer Inc
- Reynolds American Incorporated
- Perrigo Company plc
- Perfetti Van Melle
- Dr Reddy's Laboratories Ltd
- Cipla Inc
- Cambrex Corporation
- Fertin Pharma a/S
- Alchem International Pvt Ltd
- CBD Chewing Gum UK
Key Topics Covered:
1. Executive Summary
2. Tobacco Alternative Gums Market Characteristics
3. Tobacco Alternative Gums Market Trends and Strategies
4. Tobacco Alternative Gums Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Tobacco Alternative Gums Market Size and Growth
5.1. Global Tobacco Alternative Gums Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Tobacco Alternative Gums Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Tobacco Alternative Gums Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Tobacco Alternative Gums Market Segmentation
6.1. Global Tobacco Alternative Gums Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
2 Mg
4 Mg
- Other Types
6.2. Global Tobacco Alternative Gums Market, Segmentation by Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Nicotine Gums
- Herbal Gums
- Other Deployments
6.3. Global Tobacco Alternative Gums Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Pharmacies and Chemist Outlets
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retailers
7. Tobacco Alternative Gums Market Regional and Country Analysis
7.1. Global Tobacco Alternative Gums Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Tobacco Alternative Gums Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/nhjaiv
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