Nicotine Gum Market Is Estimated To Witness High Growth Owing To Increasing Tobacco Cessation Efforts

  • Ronak Shah
  • U.S.A
  • January 13, 2025

The nicotine gum market is estimated to be valued at US$1.90 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights.

The nicotine gum market is primarily driven by increasing number of tobacco cessation programs and rising inclination towards quitting smoking. Nicotine gums help reduce the tobacco cravings and withdrawal symptoms in smokers trying to quit. They slowly wean smokers off their nicotine dependency by providing controlled amounts of nicotine without the other harmful chemicals present in cigarettes. Furthermore, supportive regulatory framework promoting smoking cessation worldwide is also propelling the demand for nicotine gums.

Key Market Trends:

Online Sale and Product Premiumization– The online sale of nicotine gums is gaining traction over the forecast period. E-commerce platforms providing diverse brands, easy payment options and doorstep delivery are encouraging nicotine gum sales. Leading players are focusing on premiumizing their products with improved flavors and formats like mint and fruit-flavored gums, melts and lozenges. Product launches in organic and herbal variants catering to health-conscious consumers are some key trends witnessed in the market.

Smoking cessation products like nicotine gum can help heavy smokers quit the addiction and improve their health in the long run. As the risks and dangers of smoking become more widely known, the number of individuals trying to quit smoking is on the rise. Nicotine gums contain the stimulant nicotine which helps reduce cravings and nicotine withdrawal symptoms in people trying to quit smoking. The global market for nicotine gum is projected to grow substantially in the coming years as more people adopt nicotine gums to support their smoking cessation journey. More coverage can be found in the sample copy.

Nicotine Gum Market Opportunities

Recent studies have shown that nicotine may help in weight loss and weight management. Nicotine is known to increase metabolic rates and help burn more calories. Some people struggling with obesity are now turning to nicotine gums to aid in their weight loss programs. The emerging trend of using nicotine gums for weight control purposes is opening up new opportunities in the market. Leading gum manufacturers are strengthening their product portfolio and marketing campaigns to attract the weight management consumer base.

Key Market Takeaways:

The global nicotine gum market is anticipated to witness a CAGR of 7.2% during the forecast period 2024-2031, owing to the increasing number of smokers trying to quit and growing acceptance of nicotine gums as an aid to smoking cessation and weight loss. By type, 2mg nicotine gum segment is expected to hold a dominant position, accounting for over 30% market share owing to its effectiveness in reducing nicotine cravings.

By distribution channel, store-based channel is dominating currently, however online channel is likely to witness fastest growth during the forecast period.

On the basis of region, North America is expected to hold a dominant position over the forecast period accounting for around 35-40% of global market share, due to high awareness about health risks of smoking.

Competitor Insights:

GlaxoSmithKline

Perrigo Company

Fertin Pharma

Johnson & Johnson

ITC Limited

Reynolds American

Enaltus

Recent Developments in Nicotine Gum Market

In 2023-2024, many nicotine gum companies will be focusing overseas market development to sustain revenue growth. While demand has matured in North America, emerging economies like Asia, Latin America and Africa offer new opportunities for smoker reach and distribution. Trade partnerships, localized production facilities and tailored marketing programs will help drive adoption internationally – especially important as global anti-smoking campaigns spread smoking bans worldwide. Overall worldwide nicotine gum demand is projected to steadily rise through innovative business strategies targeting global consumers.

The global nicotine gum market has seen significant growth over the past year and new reports show this positive trend continuing into 2023 and 2024. With more people seeking alternatives to traditional cigarettes, nicotine gum products are becoming an increasingly popular quit smoking aid. Let’s take a look at some of the key developments and factors influencing this expanding market. Full coverage of the report available here.

Summary

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