Nicotine Gum Market Research Report—Forecast till 2028

Nicotine Gum Market Forecast to 2028

Market Overview

As per the MRFR analysis, the market for nicotine gum is expected to grow at a notable 4.6% CAGR to surpass USD 1,810.5 million by the end of 2028. A nicotine replacement therapy (NRT) product called nicotine gum aids in reducing the amount of nicotine consumed, primarily through cigarettes. A method for stopping smoking and smokeless tobacco is nicotine replacement treatment. Smoking is profoundly unsafe, and around 90% of all cellular breakdowns in the lungs passings are seen in people because of smoking. Smoking likewise expands the gamble for stroke, coronary illness, and different sorts of diseases. This has brought about more popularity for Nicotine gum items.

Growing health concerns about smoking are the main factors fueling the growth of the global nicotine gum market during the review period. The key drivers supporting the development of the global Nicotine gum market are the worries because of smoking, rising well-being mindfulness, and government drives towards sponsoring NRT item costs. Be that as it may, rigid guidelines on the assembling and retail of Nicotine discontinuance items and the results of Nicotine gums are set to check the development of the global Nicotine gum market. Additionally, the development of the coordinated retail area in non-industrial countries and web-based entertainment advancements, and big-name supports are supposed to create lucrative growth for the key players working in the global Nicotine gum market during the forecast period. Besides, the interest in creative items has been a moving region for producers around the world.

Segment Overview

The global Nicotine Gum Market is segmented in terms of product type, category, and distribution channel. Based on product type, the market is bifurcated into 2 mg and 4 mg.

In terms of category, the global nicotine gum market has been segmented into plain and flavored. In terms of distribution channels, the global market is divided into store-based and non-store-based.

Regional Analysis

Geographically, the global nicotine gum market has been partitioned into North America, Europe, Asia-Pacific, South America, and the Center East and Africa. North America represented the biggest market portion of 45.21% in 2020, the market is supposed to enlist a CAGR of 4.78% during the review period. Asia-Pacific was the second-biggest market in 2020, and it is projected to develop at a significant CAGR of 4.86%.

The US holds the biggest offer in the regional market. Most of nicotine gum use is in metropolitan regions contrasted with rustic regions of the US. This distinction is credited to the socio-social and financial elements connected to living in metropolitan regions.

Major Players

Prominent players in the global nicotine gum market include British American Tabacco (UK), Glenmark Pharmaceuticals Limited (India), Johnson & Johnson Inc. (UK), Pfizer Inc. (US), ITC Limited (India), Perrigo Company Plc (Ireland), GlaxoSmithKline Plc (UK), Fertin Pharma A/S (Denmark), Cipla Inc. (India), Enorama Pharma Ab (Sweden).

COVID 19 Impacts

We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.

Companies Mentioned

British American Tabacco (UK)
Glenmark Pharmaceuticals Limited (India)
Johnson & Johnson Inc. (UK)
Pfizer Inc. (US)
ITC Limited (India)
Perrigo Company Plc (Ireland)
GlaxoSmithKline Plc (UK)
Fertin Pharma A/S (Denmark)
Cipla Inc. (India)
Enorama Pharma Ab (Sweden)

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