USD 1.37 Billion
Report ID:
SQSG35I2048 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
64
|Figures:
75
Nicotine Gum Market size was valued at USD 1.37 Billion in 2023 and is poised to grow from USD 1.45 Billion in 2024 to USD 2.24 Billion by 2032, growing at a CAGR of 5.6% during the forecast period (2025-2032).
The growing number of smokers around the world and increasing efforts of smokers to quit smoking are projected to favor the demand for nicotine gum in the future. Rising popularity and preference of nicotine gum as a smoking cessation aid and wide availability of the same across multiple distribution channels are also promoting sales of nicotine gum. Imposition of stringent regulations for smoking products and the launch of anti-smoking policies are also generating new opportunities for nicotine gum suppliers. Growing awareness regarding the ill effects of smoking on human health through public health programs and awareness initiatives is also expected to boost revenue generation over the coming years. The surging popularity of flavored nicotine gum products is also expanding the business scope of nicotine gum companies going forward. However, availability of alternative products, limited efficacy for heavy smokers, concerns regarding dependence, and potential side effects are expected to hurt the sales of nicotine gum across the study period and beyond.
US Nicotine Gum Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.37 Billion
Largest Segment
Pharmacies
Fastest Growth
Pharmacies
Growth Rate
5.6% CAGR
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Global Nicotine Gum Market is segmented on the basis of type, distribution channel, and region. By type, market is segmented into 2mg, and 4mg. By distribution channel, market is segmented into supermarkets/hypermarkets, convenience stores, pharmacies, and online. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
2 mg nicotine gum is projected to spearhead the global nicotine gum demand outlook in the future. Extensive use of 2 mg nicotine gum dosage to help smokers reduce their cravings and aid in quitting smoking is allowing this segment to hold a prominent nicotine gum market share. This type of nicotine gum is extensively used by light smokers and occasional smokers. Large number of smokers fall under the categories, which is why 2 mg nicotine gum is perfect to help them reduce their smoking intake and eventually quit it completely as well. People with low nicotine dependence are often suggested or prescribed 2 mg dosage of nicotine gum to help them quit smoking.
Meanwhile, the demand for 4 mg nicotine gum is expected to rise at a notable pace over the coming years. Rapidly increasing number of heavy smokers opting to quit heavy smoking are estimated to boost sales of 4 mg nicotine gum in the future. 4 mg nicotine gum is typically used for heavy smokers with high nicotine dependence as it provides better withdrawal symptom management, stronger craving control, and an option to gradually reduce dependence by later switching to 2 mg nicotine gum. 4 mg nicotine gum is also highly recommended for smokers who smoke withing 30 minutes of waking up.
Analysis by Distribution Channel
Pharmacies are projected to account for a substantial nicotine gum market share. Availability of medical advice and support at pharmacies on how to use nicotine gum is allowing this segment to hold sway over others. Assurance about efficacy and quality of nicotine gum at pharmacies is also expected to boost revenue generation for nicotine gum providers via this segment going forward. Consumer trust in health products brough from pharmacies is also a key factor allowing this segment to maintain its dominant stance. Pharmacies also allow consumers to discreetly purchase nicotine gum in-person as needed to maintain confidentiality.
Meanwhile, the demand for nicotine gum through online channels is forecasted to increase at a notable pace in the future. Increasing internet penetration, evolving consumer preferences, and high availability of a wide variety of nicotine gum products in online stores are key factors making this a highly opportune segment for nicotine gum companies. Easy payment, doorstep delivery, and instant delivery are some popular benefits of online channels that are expected to make this a highly lucrative distribution channel for nicotine gum suppliers in the long run. Rapid digital transformation and boom in e-commerce activity are also slated to supplement the sales of nicotine gum through 2031 and beyond.
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North America is estimated to spearhead the global nicotine gum market forecast in the future. Rising health consciousness among people in this region, presence of key nicotine gum providers, and launch of government initiatives and campaigns to educate people about the ill effects of smoking are helping this region lead the sales of nicotine gum. The United Stares is projected to bring in the most revenue for nicotine gum companies operating in this region. Brand innovation and the launch of innovative marketing campaigns to boost popularity of nicotine gum are also expected to aid the dominance of this region going forward.
Asia Pacific is positioned to emerge as the fastest expanding market for nicotine gum companies in the world. Growing consumer awareness regarding health and wellness, rising availability of smoking cessation aids, and imposition of stringent smoking bans and anti-smoking regulations are providing lucrative opportunities for nicotine gum providers in this region. China, Japan, and India are slated to be at the forefront of nicotine gum consumption in Asia Pacific across the forecast period and beyond. High competition between leading tobacco companies in this region is also slated to create new business scope for nicotine gum suppliers in the long run.
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Nicotine Gum Market Drivers
Rise in Efforts to Quit Smoking
Launch of Anti-smoking Policies
Nicotine Gum Market Restraints
Availability of Alternative Cessation Aids and Products
Limited Efficacy for Heavy Smokers
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Nicotine gum providers can focus on the Asia Pacific region to maximize their business scope in the long run. Developing novel nicotine gum products with additional health benefits and new flavors can also help nicotine gum companies stand out in the competitive landscape. Launching new anti-smoking awareness programs and collaborating with public health and non-profit health organizations can also boost sales for nicotine gum companies in the future.
Nicotine Gum Market Top Player's Company Profiles
Nicotine Gum Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing health consciousness among people, the launch of anti-smoking policies, and rising number of smoking quitters are expected to drive the sales of nicotine gum in the future. On the contrary, concerns regarding dependency, limited efficacy on heavy smokers, and availability of alternatives are estimated to impede nicotine gum market development. North America is expected to spearhead the global nicotine gum demand outlook owing to high availability and awareness regarding nicotine gum for smoking cessation. Focusing on product innovation and providing sugar-free and low-calorie products are slated to create new opportunities for nicotine gum companies going forward.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.37 Billion |
Market size value in 2032 | USD 2.24 Billion |
Growth Rate | 5.6% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Nicotine Gum Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nicotine Gum Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nicotine Gum Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nicotine Gum Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQSG35I2048
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