Pune, July 11, 2023 (GLOBE NEWSWIRE) -- A global Consumer Goods & Services business-consulting firm, Maximize Market Research, has published a market intelligence report on the “Nicotine Gum Market”, which is a combination of primary data and secondary data. Over the forecast period, Maximize Market Research expects the market to grow from USD 1.35 Bn in 2022 to USD 2.28 Bn in 2029 at a CAGR of 5.8 percent.
Nicotine Gum Market Report Scope and Research Methodology
| Market Size in 2022 | USD 1.35 Bn |
| Market Size in 2029 | USD 2.28 Bn |
| CAGR | 5.8 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 289 |
| No. of Tables | 116 |
| No. of Charts and Figures | 114 |
| Segment Covered | Nicotine Strength, Flavor, Distribution Channel, End User and Sales Channel |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report includes a detailed analysis of market share, market size, company performances, historical data, market forecast and dynamics including growth drivers, major restraints, prevailing opportunities and upcoming challenges. It includes an in-depth analysis of the Nicotine Gum market at global, regional and country levels. It provides a comprehensive analysis of the competitive scenario of the Nicotine Gum industry with the business strategies adopted by the competitors. The report includes the list of Nicotine Gum key players with information on their revenue, production capacity, sales and global presence. SWOT analysis was employed to provide the strengths and weaknesses of the key players in the Nicotine Gum industry.
The bottom-up approach was used to estimate the global and regional Nicotine Gum market size. Both primary and secondary methods were used to gather data on market dynamics, the performance of key players and historical data of the industry. The report covers a detailed value chain analysis, which helps to understand the manufacturing process and provides information on customers, raw materials and distributors. It also includes PORTER, PESTLE analysis and market attractiveness, which helps to understand the Nicotine Gum market at macro and micro levels.
Nicotine Gum Market Overview
Nicotine gum is used as a smoking cessation aid. The Nicotine Gum Market is highly competitive and is expected to grow in the future. In recent years, the demand for nicotine replacement therapy (NRT) products, including nicotine gum, has increased across the world as people are increasingly opting for methods to quit smoking and reduce their exposure to the harmful chemicals found in tobacco smoke.
Nicotine Gum Market Dynamics
The factors such as growing urbanization, product innovation and extensive research and development are contributing to the Nicotine Gum market growth. Nicotine Gum Manufacturers are continuously exploring advancements. Technologies such as transmucosal patches or dissolvable films that deliver nicotine through the oral mucosa present opportunities for enhanced user experience. Many government and non-government organizations such as NGOs across both developing and developed nations are promoting the smoking cessation products like nicotine gums and other nicotine replacement products to assist individuals with tobacco addiction.
Nicotine gum also has the capability to have poor side effects including headaches, indigestion, hiccups, throat or mouth infection, or nausea. The availability of various alternatives such as nicotine inhalers, nicotine patches, prescription medicinal drugs, electronic cigarettes and vaping gadgets are expected to hamper the market growth in the future.
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Nicotine Gum Market Regional Insights
The North American Nicotine Gum Market is growing majorly because of the increasing number of health-conscious consumers supported by government initiatives and campaigns. Major brands present in the region are focusing on product innovations to capture the increasing demand and achieve a competitive advantage in the market.
Asia Pacific Nicotine Gum Market is expected to grow at a high CAGR during the forecast period. This is attributed to the increasing demand for innovative products and increasing competition between big tobacco companies, especially in Japan.
Nicotine Gum Market Segmentation
By Nicotine Strength
- Regular Strength (2 Mg Of Nicotine Per Gum)
- Extra Strength (4 Mg Of Nicotine Per Gum)
- Other Strengths (E.G., 1 Mg, 6 Mg) Catering To Specific Needs
Based on Nicotine Strength, the Regular Strength segment held the largest Nicotine Gum Market share in 2022. The easy availability of 2 Mg nicotine gums in various flavors is attracting potential users, which is expected to drive the market in the future.
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By Flavor
- Mint
- Fruit
- Cinnamon
- Other Flavors (E.G., Spearmint, Berry, Citrus)
By Distribution Channel
- Pharmacies And Drugstores
- Online Retailers
- Supermarkets And Hypermarkets
- Convenience Stores
- Others
Based on Distribution Channel, the Pharmacies and Drugstores segment is expected to hold the largest Nicotine Gum Market share by the end of the forecast period. The Online Retailers segment is expected to grow at a high CAGR in the future. The segment is growing because of the convenience and comfort offered by the online purchase of medications.
By End User
- Smokers Trying To Quit Smoking
- Smokers Aiming To Reduce Cigarette Consumption
- Others (E.G., Smokeless Tobacco Users, Individuals Seeking Alternative Nicotine Products)
By Sales Channel
- Over-The-Counter (OTC) Sales
- Prescription-Based Sales (In Some Regions)
Nicotine Gum Key Competitors include:
- Johnson & Johnson (United States)
- Novartis (Switzerland)
- Perrigo Company plc (Ireland)
- GlaxoSmithKline plc (United Kingdom)
- Alchem International Pvt. Ltd. (India)
- Korea Ginseng Corporation (South Korea)
- Taisho Pharmaceutical Co., Ltd. (Japan)
- Procter & Gamble (United States)
- Tabuk Pharmaceuticals Manufacturing Co. (Saudi Arabia)
- Eurofarma Laboratórios S.A. (Brazil)
- Saudi Pharmaceutical Industries & Medical Appliances Corporation (Saudi Arabia)
- Cadila Healthcare Ltd. (India)
- Pharmacia AB (Sweden)
- JG Boswell Company (United States)
- Perfection Products Inc. (United States)
- Tabex Pharmaceutical (Bulgaria)
- Pfizer Inc. (United States)
- Royal Tobacco Company (United States)
- Fertin Pharma A/S (Denmark)
- Alkalon A/S (Denmark)
- Nicofresh (United Kingdom)
- Nicogulf Manufacturing Co. (United Arab Emirates)
- Novo Nordisk A/S (Denmark)
- Pharmatoka SAS (France)
- Cooper Pharma Limited (India)
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Key questions answered in the Nicotine Gum Market are:
- What was the Nicotine Gum Market size in 2022?
- What is the expected Nicotine Gum Market size by the end of the forecast period?
- What is the expected CAGR of the Nicotine Gum Market during the forecast period?
- What are the Nicotine Gum Market segments?
- Which Nicotine Gum Market segment is expected to grow at a high CAGR during the forecast?
- What are the major challenges that the Nicotine Gum Market could face in the future?
- What are the upcoming industry trends for the Nicotine Gum Market?
- What are the factors contributing to the final price of Nicotine Gum?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Nicotine Gum Market?
- What growth strategies are the players considering to increase their presence in Nicotine Gum?
- Who are the leading companies and what are their portfolios in Nicotine Gum Market?
- Who held the largest Nicotine Gum market share in 2022?
- Which regional Nicotine Gum market is expected to grow at a high rate in the future?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2022)
- Past Pricing and price curve by region (2017 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Nicotine Strength, Flavor, Distribution Channel, End User, Sales Channel and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Consumer Goods & Services research firm, has also published the following reports:
Nicotine Gums And Lozenges Market - The market size is expected to reach USD 6.86 billion by 2029 at a CAGR of 4.8 percent during the forecast period. As per the research, the North America region holds a significant share of the global market.
Nicotine Replacement Therapy Market - The market size is expected to reach USD 167.35 billion by 2029 at a CAGR of 15.90 percent during the forecast period. The market is expected to be driven by the rising public awareness of the effects of tobacco and the increasing number of persons using nicotine replacement treatment (NRT).
Smoking Cessation and Nicotine De-Addiction Market - The market size is expected to reach USD 51.80 billion by 2029 at a CAGR of 18.90 percent during the forecast period. The market is expected to be driven by the rising awareness among smokers about the disadvantages of smoking such as lung cancer, cardiac diseases and other respiratory problems.
Nicotine Pouch Market - The market size is expected to reach USD 17.35 billion by 2029 at a CAGR of 35.8 percent during the forecast period. The market is expected to be driven by the rising awareness of the harmful effects of smoking.
Tobacco Market - The market size is expected to reach USD 1010.38 billion by 2029 at a CAGR of 2.5 percent during the forecast period. The market is expected to be driven by marketing and advertising, the regulatory environment and economic factors.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
