(MENAFN- PR Newswire)
NEW YORK, July 15, 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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Technavio has announced its latest market research report titled Global nicotine gum market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Product (2-mg nicotine and 4-mg nicotine), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) |
| Region Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
| Key companies profiled |
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. |
Key Market Trends Fueling Growth
New product launches, such as Perrigo Company plc's latest 2 mg and 4 mg nicotine-coated mint lozenges, are essential for market growth in the nicotine gum industry. These lozenges, approved by the US Food and Drug Administration for over-the-counter sale, will be available under retailer's store brands and are anticipated to generate significant revenue. With sales of approximately USD20 million for the equivalent national brand product in the previous year, the market potential is substantial. These new offerings will help companies increase market share and cater to consumers seeking smoking cessation solutions.
Nicotine gum is a popular nicotine replacement therapy (NRT) product used by individuals looking to quit tobacco consumption. The global nicotine gum market is witnessing significant growth due to increasing health awareness and rising concerns over the harmful effects of tobacco smoke on lung cancer, cardiac diseases, and respiratory disorders. Nicorette, a leading brand of nicotine gum, dominates the market with long-lasting gums in 2mg and 4mg strengths. Healthcare professionals recommend NRTs like nicotine gum as effective tools for managing nicotine cravings during smoking cessation programs. New flavors and convenient delivery systems are trending in the market to attract health-conscious consumers, including light smokers. Pharmacies, online stores, and rehab centers stock a range of NRTs, including tablets, powders, and chewing gums. Nicotine patches are also popular smoking cessation aids. Changing consumer preferences and smoking cessation awareness campaigns are driving market growth. However, the market faces competition from other NRTs and cigarette promotion, highlighting the need for effective health education and smoking cessation programs.
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Market
Challenges
.
The nicotine gum market may experience hindrances due to growing awareness regarding the potential health risks associated with smoking cessation products. Long-term usage of nicotine gums can lead to various health issues, including hair loss, skin irritation, elevated blood pressure, irregular heartbeat, insulin resistance, gastrointestinal problems, nausea, and dental problems such as teeth and jaw issues from continuous chewing. Additionally, nicotine patches have side effects like skin irritation, itching, dizziness, and headache. Furthermore, research indicates that e-cigarettes, which are alternative smoking cessation methods, contain harmful ingredients like propylene glycol and vegetable glycerin, and produce toxic chemicals such as acetaldehyde, acrolein, and formaldehyde, which can lead to lung and cardiovascular diseases. The health risks associated with these products may deter consumers and hinder the growth of the global nicotine gum market during the forecast period.
.
The Nicotine Gum market faces several challenges in the current scenario. Traditional flavors are no longer sufficient for consumers, leading to the need for new and innovative flavors. Convenient delivery systems are in high demand, with chewing gums, tablets, powders, lozenges, dissolvable films, and tiny nicotine pouches gaining popularity. Smoking cessation programs are essential, with the 2mg and 4mg segments being the most popular among smokers and light smokers. Pharmacies, rehab centers, health organizations, online stores, and smoking cessation aids are key players in this market. However, health risks associated with nicotine gums, such as heart conditions and respiratory problems, remain a concern. Tobacco use promotion and cigarette advertising continue to pose challenges. Health awareness campaigns and personalized nicotine gum offerings are crucial to attract health-conscious consumers. The market is evolving, with a focus on heart disease prevention, changing consumer preferences, and smoking cessation awareness. Nicotine patches and other smoking cessation aids are also significant competitors.
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Segment Overview
This nicotine gum market report extensively covers market segmentation by
Product
1.1 2-mg nicotine
1.2 4-mg nicotine
Distribution Channel
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 growing steadily due to increasing health consciousness and the desire to quit smoking. Nicotine gum is an effective alternative for smokers looking to reduce their nicotine intake or quit smoking altogether. Major players in the market include Wrigley, Pfizer, and GlaxoSmithKline. These companies invest in research and development to improve product offerings and meet consumer demand. Nicotine gum comes in various strengths and flavors, making it accessible to a wide range of consumers. The market is expected to continue growing due to its effectiveness and convenience as a smoking cessation aid.
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Research Analysis
Nicotine gum is a popular nicotine replacement therapy (NRT) used to help individuals quit tobacco consumption and manage nicotine cravings. Unlike tobacco products, such as cigarettes, nicotine gum does not contain harmful chemicals found in tobacco smoke, which are known to cause lung cancer, cardiac diseases, and respiratory disorders. Nicotine gum is available over the counter at pharmacies and comes in various forms, including long-lasting gums. Healthcare professionals often recommend nicotine gum as part of a comprehensive smoking cessation program, which may also include nicotine patches and other NRTs. Smoking cessation aids like nicotine gum can help reduce the risk of health problems associated with tobacco use, including heart conditions and respiratory problems. As health awareness grows, the demand for nicotine gum and other NRTs is expected to increase. However, it is important to note that nicotine gum should only be used under the guidance of a healthcare professional, especially for those with underlying health conditions.
Market Research Overview
Nicotine gum is a type of nicotine replacement therapy (NRT) that helps individuals quit tobacco consumption by providing a controlled dose of nicotine to manage cravings. Nicotine gum is available in various forms, including long-lasting gums, tablets, chewing gums, powders, and lozenges. The global nicotine gum market is driven by the increasing health risks associated with tobacco use, such as lung cancer, cardiac diseases, and respiratory disorders. Healthcare professionals recommend nicotine gum as a smoking cessation aid for individuals dealing with nicotine cravings. New flavors and convenient delivery systems are attracting health-conscious consumers and light smokers. The market includes nicotine gum, lozenges, dissolvable films, and tiny nicotine pouches. Changing consumer preferences and smoking cessation awareness programs are also contributing to the market's growth. Despite the health benefits, nicotine gum contains nicotine, a harmful chemical found in tobacco smoke, so it's essential to use it under the guidance of healthcare professionals. The market includes various segments, such as 2mg and 4mg nicotine strengths, pharmacies, online stores, and rehab centers. Nicotine patches and other NRTs are also available, but nicotine gum offers a more personalized experience for users. Health organizations and pharmaceutical companies are investing in research and development to create more effective and convenient nicotine gum products.
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
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
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SOURCE Technavio
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