April 28, 2023 15:07 ET
New York City, New York, UNITED STATES
New York City, New York, UNITED STATES
New York, April 28, 2023 (GLOBE NEWSWIRE) — The global nicotine gum market size was USD 1.5 Billion in 2022. It is projected to surpass around USD 2.4 Billion by 2032 and is poised to reach a registered CAGR of 5.1% from 2023 to 2032.
The nicotine gum market is a rapidly growing sector that provides fitness and wellness solutions through digital platforms. This includes various types of online workout classes, personalized coaching services, as well as Nicotine Gum communities. The growth is being spurred on by factors such as the growing adoption of digital technologies, rising health awareness among consumers, and an increasing need for personalized fitness solutions.
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Factors affecting the growth of the nicotine gum industry
There are several factors that can have an impact on the growth of the nicotine gum industry. Some of these factors include:
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Top Trends in Global Nicotine Gum Market
Manufacturers are offering more flavor options like mint, fruit, and cinnamon to meet consumer preferences and satisfy them more effectively. Nicotine gum has also become increasingly marketed as an effective and safer alternative to smokeless tobacco products like snuff and gum tobacco. Customers are searching for sugar-free nicotine gum solutions as they become more health conscious. Because it may be used discretely in a variety of circumstances, including the workplace, public areas, and while on the go, nicotine gum is viewed as a more practical alternative to smoking. Online purchases of nicotine gum are becoming more popular since they are more convenient and private.
In recent years, the nicotine gum market has experienced impressive growth and this trend is expected to continue into the foreseeable future. The nicotine gum market continues to experience steady growth, as more people are aware of the dangerous effects of smoking on their health which can lead to a rising number of people quitting smoking. Nowadays nicotine gum is available in various flavors and strengths so people are attracted to nicotine gum, because of the smoking rise in the incidence of chronic diseases such as heart disease, respiratory disorders, lung cancer, etc. The Asia Pacific region will see the greatest growth in the forecast period, due to growing awareness of the negative effects of smoking and increased use of cessation products.
North America is estimated to be the most dominant market in the Nicotine Gum Market, with the largest market share of 33.6% in 2022. This region has a high smoking prevalence rate and developed healthcare systems that encourage cessation efforts. There are major opportunities for nicotine replacement therapy (NRT), especially in the United States and Canada.
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Scope of the Report
In an effort to reduce the number of smokers, governments and health agencies around the globe encourage people to quit smoking. These initiatives often include nicotine gum to help smokers quit. It is easy to find OTC nicotine chew in many countries. It is an attractive option for people who want to quit smoking. Because it reduces cravings and relieves withdrawal symptoms, nicotine replacement therapy (which includes patches, lozenges, and nicotine gum) is growing in popularity among smokers.
Several nations have regulations governing nicotine gum, a nicotine replacement medication. Governments typically have jurisdiction over nicotine gum’s creation, sale, and distribution. This might reduce the number of consumers who can get it. The market for nicotine gum has a large number of competitors, as well as recent entrants. Businesses that operate in this market can experience higher competition, slimmer profit margins, and a small market share.
There is a growing market for products to help smokers quit. Nicotine gum is a popular smoking cessation treatment because it can be used to reduce cravings and withdrawal symptoms. It is a healthier alternative to smoking. The air is free of tar and CO. The popularity of nicotine gum is increasing as people realize the harmful effects of smoking. E-cigarettes are becoming a more popular alternative to smoking. E-cigarettes can still contain nicotine. You can quit smoking and reduce your nicotine intake by using nicotine gum.
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Report Segmentation of the Nicotine Gum Market
The 2 mg/piece of gum dosage segment is projected to be the most lucrative in the global nicotine gum market, boasting a projected CAGR of 5.4% for 2022. 2 mg/piece of gum dosage’s revenue share will total 56.2% by 2022. This is the most commonly available nicotine gum product on the international market. This is a good starting dose for people who have quit smoking. Nicotine gum releases nicotine through the mouth’s liner into the bloodstream. This helps reduce cravings and withdrawal symptoms that can be associated with nicotine addiction. To minimize side effects, it is important to use the recommended dosage.
Distribution Channel Insight
The pharmacies segment will dominate the nicotine gum market in 2022 with a share of 39.6%. People buy nicotine gum from pharmacies for the following reasons: access to medical advice and support, ease of purchasing it with other health-related items, and availability of the product. There are trained staff at pharmacies who can provide advice and information about nicotine gum and other nicotine substitutes.
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Based on Type
Based on Distribution Channel
The key players are competing on price, product value, promotion, distribution methods, and innovation. Because a variety of generic brands and private brands sell nicotine chew products at lower prices, the market is highly competitive. As people become more aware of the dangers of smoking, and there is a growing demand for help to quit, the market for nicotine gum is expanding.
Some of the major players include:
Recent Development of the Nicotine Gum Market
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