1 / 3

Nicotine Gum Market Size, Share and Growth Analysis to 2030

Nicotine gum is an over-the-counter (OTC) product for those who are looking to quitting smoking. It helps tobacco addicts reduce their cigarette intake and finally stop smoking.

maverick8
Download Presentation

Nicotine Gum Market Size, Share and Growth Analysis to 2030

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Nicotine Gum Market Size, Share and Growth Analysis to 2030 Market Overview: The global nicotine gum market is set to witness impressive growth with a projected compound annual growth rate (CAGR) of nearly 6% from 2023 to 2030. This market, driven by a growing awareness of the health risks associated with smoking, is expected to surpass US$2 billion in valuation by the end of the forecast period. Read More Industry Insights: https://www.fairfieldmarketresearch.com/report/nicotine-gum- market Market Dynamics: Nicotine gum, an over-the-counter product designed to aid in smoking cessation, has gained popularity among individuals looking to quit smoking. It works by releasing nicotine into the bloodstream through the mouth's lining, helping reduce cravings, the urge to smoke, and withdrawal symptoms. Available in various strengths, such as 2 mg, 4 mg, and 6 mg, users choose the appropriate strength based on their daily cigarette consumption. The rising incidence of lung cancer and other respiratory disorders is a significant driver of market expansion. Key Findings: 1.Between 2023 and 2030, the nicotine gum market is poised for robust revenue growth. 2.Factors fueling market growth include increasing popularity of smoking cessation aids, government initiatives to reduce tobacco use, and rising smoking-related fatalities. 3.Demand for 2 mg nicotine gum remains high in the market. 4.The pharmacy sector led in nicotine gum market revenue share in 2022.

  2. 5.North America continues to lead the market, while the Asia Pacific region experiences significant growth. Growth Drivers: 1. Increasing Promotion of Anti-smoking Campaigns: • Governments and NGOs worldwide are actively promoting smoking cessation aids like nicotine gum to help individuals, especially young people, combat tobacco addiction. • Combining these aids with effective cessation programs enhances the chances of successful smoking cessation. • Strong government support for comprehensive tobacco control plans, including restrictions on advertising and workplace smoking bans, encourages consumers to seek alternatives to reduce tobacco consumption. 2. Increasing Prevalence of Heart-related and Respiratory Disorders: • Growing awareness of the health risks associated with smoking has led to a rise in demand for nicotine cessation products. • Hospitals and rehab facilities globally are witnessing increased demand for nicotine cessation aids. • The market benefits from the surge in diseases like lung cancer, heart conditions, and respiratory problems caused by tobacco usage. 3. Favorable Government Initiatives: • Government initiatives to reduce smoking rates, including higher cigarette taxes, tobacco advertising restrictions, and health warnings, drive consumers to seek nicotine replacement therapies. • Developed and developing nations alike receive government and NGO support for nicotine gums and other products to combat tobacco addiction. Growth Challenges: 1. Potential Side Effects of Nicotine: • Nicotine gum can lead to side effects such as elevated blood pressure, rapid heartbeat, nausea, irritability, and addiction if used excessively. • Long-term use of nicotine gum can increase the risk of oral cancer, according to recent research. • The addictive nature of nicotine poses challenges to quitting smoking using nicotine gum. Segment Insights: 1. 2 mg Type Segment Dominates: • The 2 mg category led the market in 2022, favored by those seeking to reduce or quit smoking as part of nicotine replacement therapy. • Accessibility of 2 mg nicotine gum in various flavors attracts new customers, supporting continued demand. 2. Pharmacy Distribution Channel Preferred: • Pharmacies dominated the market due to the availability of medical advice, quality products, and the presence of knowledgeable staff. • Online distribution channels are expected to grow rapidly in the forecast period, driven by convenience, wide product selection, and discounts. Regional Analysis: 1. North America Leads the Way: • North America is expected to dominate the global nicotine gum market, driven by increased health consciousness, government initiatives, and corporate innovation. • Renowned companies like Philip Morris, Cipla Health Limited, and Johnson & Johnson are contributing to market growth.

  3. 2. Asia Pacific Expands Rapidly: • The Asia Pacific region is poised for the fastest CAGR, driven by consumer demand for unique products, competition among tobacco companies, and strict anti-smoking laws in countries like China and India. • Japan stands out as a significant market opportunity. Competitive Landscape: Key players in the nicotine gum market include British American Tobacco plc, Johnson & Johnson, Novartis AG, ITC Limited, Cipla Health Limited, Perrigo Company Plc, Teva Canada, Philip Morris International, Inc., Revolymer, and Enorama Pharma AB. Global Nicotine Gum Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Type Coverage, By Distribution Channel Coverage, By Geographic Coverage and By Company) https://www.fairfieldmarketresearch.com/report/nicotine-gum-market Visit Our blog : Nicotine Gum Market : https://www.linkedin.com/posts/saurabh-vyas-1b75b8290_nicotinegum-tobaccofree-kickthehabit- activity-7122872172355710979-ctyc?utm_source=share&utm_medium=member_desktop About Us Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness. Contact Fairfield Market Research London, UK UK +44 (0)20 30025888 USA (Toll-free) +1 (844) 3829746 Web: https://www.fairfieldmarketresearch.com/ Email: sales@fairfieldmarketresearch.com LinkedIn | Twitter

More Related