Market Research Future published a cooked research report on Europe pure nicotine market which is estimated to grow more than 5.83% after 2022.
Pure nicotine is a colorless liquid with a characteristic acrimonious odor. It is a colorless liquid that turns brown and smells like tobacco when exposed to air. It is the purest and freshest Nicotine solution available in the market that is derived from the finest, pesticide-free Tobacco leaves. It is naturally sourced, filtrated, extracted, separated and distilled to amass a true and clean nicotine produce. The Europe pure nicotine market has witnessed continued demand during the last few years and is projected to reach 5.521 Kilo tons at a CAGR of 5.83% by 2022. Increase in demand for the nicotine replacement therapy (NRT) products will drive the higher demand for the pure nicotine in the coming years. Increase in demand across various applications including e-liquid, smoking cessation products, bio pesticides and other industrial purposes is driving higher demand for pure nicotine
Key Players of Europe Pure Nicotine Market:
- Contraf Nicotex Tobacco GmbH (CNT)
- Nicobrand Limited
- Alchem International SA
- Purenic (BGP Europe AG)
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Europe pure nicotine market is segmented by type, application and country.
Europe pure nicotine market, based on application, is segmented into e-liquid, smoking cessation products, pharmaceuticals, bio-pesticide and others E-liquid dominated and having more than 50% market share in the year 2016 and is projected to grow at the highest CAGR at 5.85% during the forecast period followed by smoking cessation products with market share more than 25% and growing at CAGR of 5.8% for the corresponding period. The innovations in pure nicotine products and process prime objectives include achieving reductions in cigarette consumption by providing various product forms, flavors, and packaging styles is supporting the market growth.
Rest of the Europe part accounted for the largest market share which is more than of 50% in 2016, with a market volume of 2.063 kilo tons and is projected to grow at a CAGR of 5.38% during the estimated period. Bulgaria is emerging as new target country with projected CAGR of 7.08% followed by Poland and Germany.
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