Global Nicotine Gum Market to Reach US$ 2.0 Billion by 2028, Fostered by Rising Awareness Among Individuals About Adverse Effects of Nicotine on Health

August 22, 2023 | Healthcare

According to the latest report by IMARC Group, titled “Nicotine Gum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global nicotine gum market size reached US$ 1.5 Billion in 2022. Nicotine gum is a type of chewing gum infused with nicotine, designed to aid those attempting to quit smoking. It works as a nicotine replacement therapy (NRT), which helps alleviate withdrawal symptoms associated with smoking cessation. It contains nicotine, which is released upon chewing and absorbed through the oral mucosa, delivering a controlled amount of nicotine to the body. It aids in reducing cravings for nicotine, irritability, anxiety, and restlessness and helps smokers focus on the behavioral and psychological aspects of quitting smoking. It also assists individuals to quit other forms of tobacco use, such as cigars and chewing tobacco.

Global Nicotine Gum Market Trends:

The increasing awareness about the health risks associated with smoking is encouraging more individuals to quit tobacco products. This represents one of the key factors positively influencing the market. Additionally, doctors, dentists, and other healthcare professionals are increasingly recommending nicotine gum to patients trying to quit smoking. Apart from this, the aging global population with higher tobacco usage rates is also influencing the overall sales of smoking cessation aids like nicotine gum. Moreover, the burgeoning e-commerce sector is making its availability more accessible and consequently attracting a wider consumer base. Looking forward, the market value is projected to reach US$ 2.0 Billion by 2028, expanding at a CAGR of 4.7% during 2023-2028.

Market Summary:

Based on the type, the market has been segmented into 2 mg, 4 mg, and 6 mg nicotine gum. 2 mg nicotine gum currently dominates the market.
On the basis of the application, the market has been classified into withdrawal clinics, medical practice, individual smokers, and others. At present, medical practice holds the largest market share.
Based on the distribution channel, the market has been divided into retail pharmacies, specialty stores, online stores, and others. Retail pharmacies account for the majority of the market share.
Region-wise, the market has been categorized into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being British American Tobacco, Cambrex Corporation, GlaxoSmithKline, ITC Limited, Novartis, Johnson & Johnson Services, Perrigo, Pfizer, and Takeda Pharmaceutical Company.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Application, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	British American Tobacco, Cambrex Corporation, GlaxoSmithKline, ITC Limited, Johnson & Johnson Services, Novartis, Perrigo, Pfizer and Takeda Pharmaceutical Company
Customization Scope	10% Free Customization
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Global Nicotine Gum Market to Reach US$ 2.0 Billion by 2028, Fostered by Rising Awareness Among Individuals About Adverse Effects of Nicotine on Health

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