The global nicotine gum market has witnessed continued demand during the last few years. Nicotine gum is a type of chewing gum that delivers nicotine to the body. It is widely used in nicotine replacement therapy (NRT), a process for smoking cessation and quitting smokeless tobacco. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on global nicotine gum Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR % while achieving million-dollar growth readily in the forecast period.
The sales of the smoking cessation products have been increasing at a high pace in the developed nations over the last few years. Due to the increasing incidence of lung cancers and other chronic diseases among the consumers, cigarette smoking has been reduced which in turn accelerates the growth of smoking cessation products. Smoking cessation products include nicotine gum, nicotine patches, nicotine lozenges, electronic cigarettes and nicotine sprays and other products. Among the smoking cessation products, nicotine gum is the popular choices among the consumers. Increasing awareness about the adverse health issues associated with smoking. This has led to a large number of people using nicotine gum and other smoking cessation products.
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Despite of high benefits, nicotine gum has several side-effects which include high blood pressure, dental pain, nausea and indigestion which is expected to hinder the growth of global nicotine gum market during the forecast period.
Latest Industry Updates:
November 2017 Glenmark Pharmaceuticals Inc. has launched new nicotine gum, namely Kwitz. The product is available in 2 mg as an over the counter products and 4 mg as prescribed product. The new product has been introduced to increase the market share of Glenmark Pharmaceuticals Inc. in India and southern part of Asia-Pacific region.
October 2015 Fertin Pharma A/S has set up a manufacturing plant of nicotine chewing gum in Goa, India. The manufacturing facility caters the products for domestic market as well as in the other countries of Asia-Pacific region.
January 2016 Renolds Holdings Inc. established a new subsidiary, RAI Innovations Company. The company is focused on product development, innovation of next generation products.
The nicotine gum market is highly competitive market in the Europe & North America. The key industry players in the nicotine gum market have adopted the strategies such as product variation, mergers, and technological advancements in order to strengthen their business portfolio. Generally, process optimization and new method innovation through R&D activities is noted to be few of the strategies followed by the market players to hold their market presence. Most of the companies operating in this market are focusing on product variations and customization with added values to attract consumer base and expand their geographical presence. Major players also invest highly in the R&D sector to manufacture innovative products keeping in mind the various government regulations and health hazards, thus seeking consumers’ attention.
The key players profiled in nicotine gum are Novartis Consumer Health Inc., Perrigo co. plc, Pfizer Inc., Fertin Pharma, Glaxosmithkline plc, Johnson & Johnson, Cambrex Corporation, and Reynolds Holdings Inc.
Global nicotine gum market has been divided into dosage type, and region
On the Basis of dosage type: 2 mg, 4 mg, and 6 mg
On the Basis of Region: North America, Europe, Asia Pacific and Rest of the World
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The global nicotine gum market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among all the region, North America is estimated to retain its dominance throughout the forecast period. The growth of the North America nicotine gum market is anticipated to be driven by various factors. Mounting growth of next generation products is one of the significant factors for the rising growth of nicotine gum market in the countries of North America. Consumers are highly demanding new generation products in the U.S. So, manufacturers are coming up with different types of nicotine gum, an extensive range of flavors which in turn propels the growth of nicotine gum market in North America. Europe is estimated to account for the 31% market share in the year of 2018 and the region is projected to expand at a moderate growth rate during the forecast period. However, Asia-Pacific region is projected to witness high growth rate during the forecast period of 2017-2022.
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