Nicotine Gum Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Nicotine Gum Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Global Nicotine Gum Market is projected to register a CAGR of 7.5% during the forecast period (2022-2027).

Tobacco smoking is a known risk factor for many respiratory infections, including COVID-19. A review of studies by WHO on 29 April 2020 found that smokers are more likely to develop severe diseases with COVID-19 compared to non-smokers. Thereby, Nicotine replacement therapies, such as gum and patches, were increasingly preferred during the pandemic.

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 the market growth. Moreover, the market has witnessed a significant increase in demand from medical institutions and rehab clinics for nicotine cessation in both 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 in the rising sales of nicotine gum globally.

Globally, there has been a significant rise in government focus on reducing smoking rates. Governments across the regions are adopting comprehensive approaches to control tobacco consumption. This includes a range of measures such as a ban on tobacco advertising and promotion; restrictions on smoking in public places and the workplace; sustained increases in tobacco taxation combined with efforts 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 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. United States holds the major share in the North American nicotine gum market.

The global nicotine gum market is highly competitive 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, and improving taste, flavors, functionality, and marketing activities. Key players in the market include GlaxoSmithKline plc, ITC Limited, and Johnson & Johnson, among others.

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