Nicotine Gum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Nicotine Gum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global nicotine gum market size reached US$ 1.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.

Nicotine gum is an over the counter (OTC) smoking cessation product. It aims to assist individuals suffering from tobacco dependence in minimizing their consumption of cigarettes and eventually quit smoking. Nicotine is released when the gum is chewed and is absorbed into the bloodstream through the lining of the mouth. This aids in gradually curbing nicotine cravings and reducing the withdrawal symptoms and urge to smoke. It is commonly available in three variants: 2mg, 4mg and 6mg based on the nicotine content and is used by the individuals based on the number of cigarettes consumed by them on a daily basis.

The rising instances of lung cancer and other respiratory disorders is one of the key factors driving the growth of the market. Smoking is known to cause various chronic diseases, such as coronary heart disease (CHD), stroke, oropharyngeal cancer, esophageal cancer, tuberculosis, rheumatoid arthritis and various immunity-related ailments. The rising awareness regarding these ailments, along with the increasing health consciousness, is contributing to the market growth. Additionally, widespread adoption of smoking cessation therapies is acting as another growth-inducing factor. Various government and non-government organizations (NGOs) across both the developed and emerging nations are promoting the usage of smoking cessation products, such as nicotine gums, to assist individuals, especially the youth, with tobacco addiction. Other factors, including various product innovations such as the development of nicotine lozenges, rapid urbanization and extensive research and development activities, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global nicotine gum market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and distribution channel.

Breakup by Type:

2 Mg Nicotine Gum
4 Mg Nicotine Gum
6 Mg Nicotine Gum

Breakup by Application:

Withdrawal Clinics
Medical Practice
Individual Smokers
Others

Breakup by Distribution Channel:

Retail Pharmacies
Specialty Stores
Online Stores
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being British American Tobacco, Cambrex Corporation, GlaxoSmithKline, ITC Limited, Johnson & Johnson Services, Novartis, Perrigo, Pfizer, Takeda Pharmaceutical Company, etc.

Key Questions Answered in This Report:
How has the global nicotine gum market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global nicotine gum market?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global nicotine gum market and who are the key players?
What is the degree of competition in the industry?