Europe Pure Nicotine Market 2020 should observe continued demand to grow at a rate of 5.83% between 2020 and 2022 (appraisal period), reveals MRFR (Market Research Future). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Key Boosters and Challenges
Pure nicotine has a number of effects on the human brain, including a few healing properties. Researches are underway to test pure nicotine and its compounds’ impact during the treatment of Alzheimer’s disease, attention deficit/hyperactivity disorder (ADHD), Parkinson’s disease, and more. Smoking rate among patients with depression, anxiety disorders and schizophrenia is much greater than average. It has been observed that most of the people with any kind of mental health issue self-medicate with cigarettes since the nicotine present in it facilitates better functioning of the mind. A promising research area that has emerged lately is the potential of pure nicotine to prevent cognitive impairment that takes place among Alzheimer patients, with reports suggesting substantial improvement in attention and the ability of decision-making. Also, the rise in preference for the nicotine replacement therapy (NRT) products could foster the demand for pure nicotine in Europe in the years to come.
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A majority of the drug firms are spending considerably on pure nicotine-based compounds. Abbott Laboratories’ latest pure nicotine ABT-418 exhibits promise in the treatment of ADHD, while Taiho Pharmaceuticals has developed a drug known as DMXB-A, which is currently in the early stage of the study for treating schizophrenia. Pfizer’s antismoking pill, Varenicline, is claimed to stimulate the nicotinic receptors sufficiently enough to help smokers during withdrawal, while reducing the chances of addiction. Rising popularity of e-liquid as an ideal solution for reducing smoking has been quite favorable for the Europe pure nicotine market in recent years. With the emergence of the pod vaping technology, the market is set to witness robust growth in the following years. Manufacturers in Europe are continuously working on introducing innovative e-liquids and other products based on pure nicotine with no toxic ingredients that can hurt non-smokers.
Some of the key approaches followed by the top firms in the market are introduction of new flavors, mergers, collaborations and acquisitions. Most of the companies are spending substantially on innovations, expansions, and partnerships to uplift their brand name in the region. They are also exploring new selling methods to capture the attention of more customers. To cite an instance, in December 2020, AquaVape launched UK’s first ever vape touchscreen that is expected to change the entire shopping experience of vapers. The e-cigarette vendor has formed an alliance with a number of convenience stores across Bolton with the aim to repurpose their overall vape segment. The company’s new touchscreen kiosks are an interactive display that enables the shoppers to conveniently buy vapes in busy stores. The kiosk is a database that offers useful vape-related insights to help shoppers arrive at more informed decisions.
PURENIC (BGP Europe AG) (Basel), CONTRAF NICOTEX Tobacco GmbH (Germany), CHEMNOVATIC (Poland), NICOBRAND Limited (Ireland), are some of the top contenders responsible for the significant Europe Pure Nicotine Industry Revenue.
Type and application are the key market segments listed in the MRFR report.
Europe pure nicotine industry, depending on type, has been considered for powder and liquid.
The top applications of pure nicotine include pharmaceuticals, smoking cessation products, bio-pesticides, e-liquid, and more. in 2016, E-liquid led Europe Pure Nicotine Industry by capturing a share of over 50% and could achieve the fastest growth rate of 5.85%. Smoking cessation products form the second biggest market in Europe, with share of more than 25% and are touted to procure a CAGR of 5.8% during the conjectured period. Rise in innovations in products, with the prime objective to reduce the smoking rate among people by offering diverse forms, packaging styles and flavors, encourages market growth.
The prime countries across which Europe Pure Nicotine Industry is spread include Bulgaria, Poland, Germany, Italy, and the Rest of Europe.
Rest of the Europe market is the most lucrative, with share having surpassed 50% in 2020, with a total of 2.063 kilo tons volume while the projected CAGR can be 5.38% over the analysis period. Poland and Germany can perform decently over the ensuing years.
Bulgaria is the fastest emerging market, with the growth rate expected to be 7.08% in the years ahead. Vaping has become quite popular in the country, indicating high growth scope. E-cigarettes are gaining high prevalence in Bulgaria, which can be explained by the lenient regulations for the product compared to other tobacco-based products. With a massive pool of chain smokers, Bulgaria has the highest smoking rate in Europe, which gives a significant boost to the pure nicotine market in the country. Also, the younger generation in the country is able to access insightful digital information as well as communication technologies quite easily, which makes it more accepting of novelty and new products, one of which is e-liquid.
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