Global Nicotine Gum Market

Nicotine Gum Market Size, Share, Growth Analysis, By Type(2 mg nicotine gum, 4 mg nicotine gum), By Distribution channel (Supermarkets, hypermarkets) - Industry Forecast 2024-2031

Report ID: SQSG35I2048 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 64 | Figures: 75

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Nicotine Gum Market size was valued at USD 1.49 billion in 2019 and is poised to grow from USD 1.56 billion in 2023 to USD 2.17 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

nicotine gum market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'GlaxoSmithKline', 'Johnson & Johnson', 'Perrigo Company plc', 'Pfizer Inc.', 'Novartis AG', 'Revolymer PLC', 'Cambrex Corporation', 'Fertin Pharma A/S', 'Alchem International Ltd.', 'Dr. Reddy's Laboratories Ltd.', 'ConfiDent AB', 'MCNEIL-PPC, Inc.', 'Tendex Holdings Limited', 'Parnell Pharmaceuticals Inc.', 'Takeda Pharmaceutical Company Limited', 'LEO Pharma A/S', 'Sun Pharmaceutical Industries Ltd.', 'Perrigo UK FINCO Limited', 'Pharmacia Corporation', 'Procter & Gamble Co.'

The rising prevalence of diseases such as lung cancer, heart disease, and respiratory problems is driving the market. In reality, it is caused by rising tobacco use in unique ways that endangers public safety. Such factor could propel the nicotine gum market forward.

In the coming years, the market will benefit from increased health consciousness and a transition toward a healthier lifestyle. The government's emphasis on lowering smoking rates has increased significantly. Governments in all regions support broad approaches to tobacco control, along with a variety of actions such as a ban on tobacco promotion and advertising. It includes gradually increasing tobacco taxes in conjunction with measures to combat smuggling, which may limit smoking in the working place and public places.

North America has seen an increase in the percentage of health-conscious consumers, which has been bolstered by campaigns and government initiatives, propelling regional market growth. Furthermore, the region is home to significant brands that are focusing on product innovation in order to capitalise on rising demand and gain a competitive edge in the market.

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Global Nicotine Gum Market

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