Nicotine Gum Market size is set to grow by USD 1.34 billion from 2024-2028, Increasing number of people trying to quit smoking boost the market, Technavio

NEW YORK, July 1, 2024 /PRNewswire/ -- The global nicotine gum market size is estimated to grow by USD 1.34 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.71%  during the forecast period. Increasing number of people trying to quit smoking is driving market growth, with a trend towards growing new product launches related to nicotine. However, health issues associated with smoking cessation products poses a challenge. Key market players include Alchem International Pvt. Ltd., Alkalon AS, British American Tobacco Plc, Cambrex Corp., Cipla Inc., Dr Reddys Laboratories Ltd., Enorama Pharma AB, Fertin Pharma AS, GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., ITC Ltd., Johnson and Johnson Services Inc., Leeford Healthcare Ltd., Lil Drug Store Products Inc., Lucy Goods Inc., Major Pharmaceuticals Inc., Perrigo Co. Plc, Rogue Holdings LLC, Trumac Healthcare, and Walgreens Boots Alliance Inc..

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Market Driver

New product launches, such as Perrigo Company plc's nicotine-coated mint lozenges, contribute significantly to revenue growth and market expansion in the nicotine gum market. These lozenges, approved by the US FDA in May 2023, are anticipated to generate sales comparable to national brand products, which reached approximately USD20 million in the previous year. By addressing the needs of consumers attempting to quit smoking, these product launches will positively impact the global nicotine gum market during the forecast period. 

The Nicotine Gum market is currently experiencing significant growth, with various companies producing and distributing this product. Consumers are increasingly turning to nicotine gum as a tobacco alternative, particularly in regions with strict smoking regulations. The use of chewing gum technology has made nicotine gum a convenient and discreet option for those seeking to quit smoking or reduce their nicotine intake. The market is also driven by the availability of different flavors and dosages to cater to diverse consumer preferences. Additionally, the ongoing research and development in nicotine delivery systems are expected to further boost market growth. Overall, the nicotine gum market is a promising business opportunity for companies looking to capitalize on the growing demand for tobacco alternatives. 

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Market Challenges

• The nicotine gum market may experience hindrances due to growing concerns regarding the health risks associated with its long-term use. Nicotine gums can lead to various health issues, including hair loss, skin irritation, elevated blood pressure, irregular heartbeat, insulin resistance, gastrointestinal problems, and nausea. Additionally, users may experience teeth and jaw problems from continuous chewing. Nicotine patches present skin irritation, itching, dizziness, and headaches as potential side effects. Research reveals that e-cigarettes, a popular smoking cessation alternative, contain toxic ingredients like propylene glycol and vegetable glycerin, and produce harmful chemicals such as acetaldehyde, acrolein, and formaldehyde. These chemicals can lead to lung and cardiovascular diseases, including acute lung injury and chronic obstructive pulmonary disease (COPD). Consequently, the health risks associated with nicotine gums and other smoking cessation products may negatively impact market growth during the forecast period.
• The Nicotine Gum market faces several challenges in the current industry landscape. One significant challenge is the increasing competition from other nicotine replacement therapies, such as patches and lozenges. Additionally, stringent regulations imposed by health authorities continue to pose a challenge, requiring companies to adhere to strict guidelines for manufacturing and marketing. Furthermore, consumer preferences and trends shift frequently, making it essential for businesses to stay updated and adapt to new market demands. Lastly, the high cost of research and development for new nicotine gum products can be a significant barrier to entry for new players in the market.

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Segment Overview 

This nicotine gum market report extensively covers market segmentation by  

1. Product 
• 1.1 2-mg nicotine
• 1.2 4-mg nicotine
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 2-mg nicotine-  The Nicotine Gum Market is experiencing steady growth due to increasing consumer awareness about oral health and nicotine replacement therapy. This market caters to smokers seeking to quit or reduce their nicotine intake. Major players include Wrigley, Pfizer, and GlaxoSmithKline. They invest in research and development to produce effective and safe gum formulations. Regulations by health organizations ensure product quality and safety. The market size is anticipated to expand, driven by rising health consciousness and availability of various nicotine gum brands.

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Research Analysis

The Nicotine Gum Market encompasses the production, distribution, and consumption of nicotine gums as tobacco consumption cessation aids. These gums contain nicotine, a harmful chemical found in tobacco products, which helps manage nicotine cravings during the process of quitting smoking. Nicotine gums are available in various forms, including long-lasting gums, and are often used in conjunction with healthcare professionals' recommendations for nicotine cessation. Nicotine gums are essential smoking cessation aids that help mitigate the risks of lung cancer, cardiac diseases, and respiratory disorders associated with tobacco use. The market for nicotine gums has seen significant growth due to increasing health awareness and the promotion of tobacco-free alternatives. Other nicotine products, such as patches, are also popular in the market. Health organizations and pharmacies play a crucial role in providing access to these products, ensuring their availability to those seeking to quit smoking. Despite their benefits, nicotine gums should be used under the guidance of healthcare professionals due to their potential addictive properties. The use of nicotine gums is an effective strategy for managing nicotine cravings and reducing the harm caused by tobacco smoke. By providing a safer alternative to smoking, nicotine gums contribute to the overall goal of improving public health and reducing the burden of tobacco-related diseases.

Market Research Overview

The Nicotine Gum Market refers to the global trade of nicotine gum products. These gums are designed to deliver nicotine to the body through the process of chewing, acting as an alternative to smoking cigarettes. The market for nicotine gum is driven by the growing awareness of the health risks associated with smoking and the need for effective nicotine replacement therapies. The gums come in various flavors and strengths to cater to diverse consumer preferences. The market is segmented based on regions, types, and distribution channels. The use of advanced technologies in the production of nicotine gums is a key trend in the market. The market is expected to grow at a significant CAGR during the forecast period. Consumers are increasingly opting for nicotine gums as a healthier alternative to smoking cigarettes, driving market growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• 2-mg Nicotine
• 4-mg Nicotine
• Distribution Channel
• Offline
• Online
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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