Nicotine Gum Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Nicotine Gum Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Nicotine Gum Market is projected to register a CAGR of ~5.1% during the study period (2020-2025).

Key Highlights

• The growing awareness regarding health hazards associated with smoking, which has resulted in a rise in the number of people trying to quit smoking is the major factor driving market growth. Moreover, the market has witnessed a significant increase in demand from medical institutions and rehab clinics for the purpose of nicotine cessation, in both the developed and developing countries across the globe.
• Furthermore, an increase in government initiatives across various countries to control tobacco consumption is also a prime factor rising the sales of nicotine gum, globally.

Key Market TrendsRising Awareness Regarding Health Hazards Associated with Smoking

Globally, there has been a significant rise in government focus to reduce smoking rates, Governments across the regions are adopting comprehensive approaches to control tobacco consumption. This include a range of measures such as ban on tobacco advertising and promotion; restrictions on smoking in public places and in the workplace; sustained increases in tobacco taxation combined with measures to curb smuggling; large, bold health warnings on tobacco products; smoking cessation and health education campaigns; and the regulation of tobacco to standards and many others. Such measures have increased the consumers to look for alternatives to reduce tobacco consumption driving demand for the nicotine gum market.

North America Holds Significant Share in the Market

North America has experienced an increase in the percentage of health consciousness consumers supported by government initiatives and campaigns driving the growth of the market in the region. Moreover, the region has the presence of major brands focusing on product innovations to capture the growing demand and achieve a competitive advantage in the market. For instance, Nicorette has launched a new nicotine gum product coated ice mint lozenge with a smoother texture. Such factors are anticipated to drive the market growth during the study period. The United States holds the major share in the North America nicotine gum market.

Competitive Landscape

The global nicotine gum market is a fragmented market with the presence of various regional and global players. Moreover, the market has the presence of many private label nicotine gum brands owing to growing demand. Companies make themselves competitive by expanding product offerings, improving taste, flavors, functionality, and marketing activities. Key players in the market include British American Tobacco, GlaxoSmithKline plc, ITC Limited, Johnson & Johnson, Novartis AG, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

British American Tobacco
GlaxoSmithKline plc
ITC Limited
Johnson & Johnson
Novartis AG
Perrigo Company plc
Takeda Consumer Healthcare Company Limited
Cipla Health Limited

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.