Global Nicotine Gum Market Size 2024, Forecast To 2033
8 Mar, 2024
The nicotine gum market has shown strong growth, increasing from $1.66 billion in 2023 to $1.75 billion in 2024, with a CAGR of 5.6%. This growth is attributed to factors such as smoking cessation programs and regulatory support. Expected to reach $2.19 billion by 2028, with a CAGR of 5.8%, this growth will be driven by global anti-smoking initiatives and innovations in formulations.
Global Nicotine Gum Market Key Driver
The increasing number of deaths attributable to smoking is projected to propel the nicotine gum market forward. Smoking-related fatalities remain a significant public health concern worldwide, prompting individuals to seek alternatives like nicotine gum for smoking cessation. Reports from the Centers for Disease Control and Prevention and the World Health Organization emphasize the dire consequences of tobacco use, driving demand for cessation aids like nicotine gum. Therefore, the escalating mortality rates associated with smoking drive the growth of the nicotine gum market.
Get A Free Sample Of The Global Nicotine Gum Market ReportGlobal Nicotine Gum Market Segments
The nicotine gum market covered in this report is segmented –
1) Type:2 Mg Nicotine Gum, 4 Mg Nicotine Gum, 6 Mg Nicotine Gum
2) Category:Flavored, Plain
3) Distribution Channel:Retail Pharmacies, Specialty Stores, Online Stores, Other Distribution Channels
4) Application:Withdrawal Clinics, Medical Practice, Individual Smokers, Other Applications
By Geography: The countries covered in the nicotine gum market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the nicotine gum market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nicotine gum market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Nicotine Gum Industry Players
Walgreen Co.; Johnson & Johnson Ltd.; Novartis AG; GlaxoSmithKline plc; British American Tobacco plc; Philip Morris International Inc.; ITC Limited; Perrigo Company plc; Dr. Reddy's Laboratories Ltd.; Swisher International Group Inc; Glenmark Pharmaceuticals Limited; Enorama Pharma AB.; Cambrex Corporation; Alkalon A/S; betapharm Arzneimittel GmbH; Jiachem Dentbio Co. Ltd.
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Nicotine Gum Market Overview
Nicotine gum is a chewing gum that includes a little amount of nicotine that enters the bloodstream via the mouth lining. This reduces nicotine cravings and alleviates symptoms associated with quitting smoking to reduce the urge to smoke and does not require a prescription.