The global nicotine Gum market is expected to reach US$ 5.9 billion by 2030, with an annual growth rate of more than 1.5%. Key players focus on innovation to meet the growing demand for nicotine replacement therapies.
Wilmington, Delaware, Nov. 02, 2023 (GLOBE NEWSWIRE) — According to RationalStat’s most recent industry analysis, the Global Nicotine Gum Market value is estimated at US$ 5.3 billion in 2023 and is expected to rise at a moderate CAGR of over 1.5% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview                                                             Â
Nicotine gum is a form of chewing gum that contains nicotine, the addictive component of tobacco. It is used to assist people in quitting smoking or lowering the quantity of cigarettes they smoke as a smoking cessation aid. Nicotine gum works by giving the user a controlled dose of nicotine, thereby reducing withdrawal symptoms and cravings associated with quitting smoking.
Many countries have established strict tobacco control laws, such as smoking bans in public places and higher cigarette taxes. These rules encourage smokers to quit, and nicotine gum is a feasible option for assisting them in successfully quitting.
- According to a deep-dive market assessment by RationalStat, the global Nicotine Gum market has been analyzed on the basis of market segments, including type, distribution channel and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Nicotine Gum market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Nicotine Gum market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Nicotine Gum Market: Segmental and Market Share Analysis
- On the basis of type, in 2022, the 2mg nicotine gum segment dominated the global nicotine gum market, accounting for 54% of total revenue. People use nicotine gum at a dose of 2mg as a form of nicotine replacement therapy (NRT) to help people stop smoking or reduce their cigarette intake.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 5.3 billion |
| Market Size Forecast | US$ 5.9 billion |
| Growth Rate | 1.5% |
| Dominant Segment | 2mg nicotine gum |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global nicotine gum market include,
- In July 2021, Philip Morris purchased the nicotine gum company Fertin Pharma from a private equity firm for US$ 813.1 million to extend its smoke-free portfolio. Fertin Pharma’s products include tablets, chewing gums, and powders having pharmacological and nutraceutical applications that assist individuals in quitting smoking.
Some of the prominent players and suppliers operating and contributing significantly to the global nicotine gum market growth include Johnson & Johnson, GlaxoSmithKline, Novartis, Reckitt Benckiser, British American Tobacco, Perrigo Company Plc, Philip Morris International Inc., Rubicon Consumer Healthcare, Alchem International Pvt Limited, and Cipla Limited, among others.
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RationalStat has segmented the global nicotine gum market based on type, distribution channel and region
- Global Nicotine Gum Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- 2 mg Nicotine Gum
- 4 mg Nicotine Gum
- Hymenoptera
- Orthoptera
- 6 MG
- Global Nicotine Gum Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores/Tobacco Stores
- Pharmacy
- Online Retail Stores
- Other Distribution Channels
- Global Nicotine Gum Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Nicotine Gum Market
- US
- Canada
- Latin America Nicotine Gum Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Nicotine Gum Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Nicotine Gum Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Nicotine Gum Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Nicotine Gum Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Nicotine Gum Market
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Key Questions Answered in the Nicotine Gum Report:
- What will be the market value of the global Nicotine Gum market by 2030?
- What is the market size of the global Nicotine Gum market?
- What are the market drivers of the global Nicotine Gum market?
- What are the key trends in the global Nicotine Gum market?
- Which is the leading region in the global Nicotine Gum market?
- What are the major companies operating in the global Nicotine Gum market?
- What are the market shares by key segments in the global Nicotine Gum market? Â
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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