Nicotine Gum Market Forecast to 2020

The global market for nicotine gum has witnessed continued demand during the last few years and is projected to reach USD 5,986 Million in terms of sales, and 5,551 Million pieces in terms of volume by 2022. The nicotine gum market is a mature one and is estimated to grow at a CAGR of 3.01%. The increase in demand for Nicotine Replacement Therapy (NRT) and its products will drive the demand for nicotine gum. Increase in health awareness as well as easy availability of nicotine gum globally will support the market growth in the coming years.

The nicotine gum market, based on type, is segmented into 2 mg, 4 mg, and 6 mg dosage forms. The 2 mg segment held a dominant share of 64.4% within the global nicotine gum market in 2015. The 2 mg products are typically targeted towards individuals who smoke fewer than 25 cigarettes a day. Furthermore, this segment is expected to grow at the highest CAGR of 3.35% during the forecast period, as compared to other dosage forms.

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To tap the consumer market, various flavors of nicotine gums such as lemon, cinnamon, fruit, and mint, have been introduced. Some of the benefits of nicotine gum consumption include rapid alleviation of nicotine withdrawal symptoms, protection of oral mucosa, fluid engendering, and throat moistening.

The key market players are Novartis Consumer Health Inc, Perrigo Co. Plc., Pfizer Inc., Fertin Pharma, Glaxosmithkline Plc., Johnson & Johnson, Cambrex Corporation, and Reynolds American.

The prime objective of innovation in the nicotine gum products and processes are that of achieving reductions in cigarette consumption by offering various product forms, flavors, and packaging styles. Nicotine gums on consumption release nicotine which is absorbed by the body and binds with the nicotine receptors, thereby reducing nicotine craving and mitigating other withdrawal symptoms associated with smoking cessation. Despite huge benefits, there are side-effects as well that includes increased heart rate, increased blood pressure, oral irritation, dental pain, hiccups, heartburn, nausea and indigestion, which has limited the nicotine gum potential demand.

The North American region had the largest market share of 43.67% in 2015 and is projected to grow at a CAGR of 2.66% during the estimated period. Europe follows North America and is an important region for nicotine gum exports. The Asia-Pacific region is rapidly emerging as the new target market comprising of lucrative markets such as China, India, Japan, and South-East Asian countries.

Key Players

The leading market players in nicotine gum primarily are Novartis Consumer Health Inc., Perrigo Co. Plc., Pfizer Inc., Fertin Pharma, GlaxoSmithKline Plc., Johnson & Johnson, Cambrex Corporation, and Reynolds American.

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Study Objectives of Nicotine Gum Forecast to 2020
• To provide driving factors for the global nicotine gum market through 2015 to 2020
• To provide the major factors that need to be addressed for wide scale adoption of nicotine gum through the forecast years
• To understand the supply and demand dynamics
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• Analysis of historical market trends, and technologies, and current government regulatory requirements
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

Target Audience
• Nicotine gum manufacturers
• Pharmaceutical companies
• E-commerce
• Retailers
• Government organizations

Key Findings
• The 2 mg segment had the largest market share of 64.35% in 2015
• The North American region had the largest market share of 43.67% in 2015
• The prime objective of innovation in nicotine gum products and processes include achieving reductions in cigarette consumption by offering a wide range of product forms, flavors, and packaging styles.

Country Analysis of Global Nicotine Gum Market Forecast to 2020 Market
As per the MRFR analysis, the global market for nicotine gum has witnessed continued demand during the last few years and is projected to reach USD 5,986 Million by 2022, at a CAGR of 3.01%.

The reports also cover country level analysis:
• North America
• Europe
• APAC
• Rest of the World

…CONTINUED

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This release was published on openPR.