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Nicotine Gum Market Is Anticipated to Have a Lucrative CAGR of 3.01% by 2022
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The global market for nicotine gum has witnessed continued demand during the last few years and is projected to grow at a CAGR of 3.01% by 2022.
Increase in demand for the nicotine replacement therapy (NRT) products will drive the higher demand for the nicotine gum in the decade. Increase in health awareness and higher availability of nicotine gum globally will support the market growth in the coming years.
Nicotine gum is available in two different strengths: 'Regular Strength' and 'Extra Strength'. The 'Regular Strength' gum has two milligrams of nicotine in each piece of gum, which is why it is also known as 2 mg gum. The 4 mg Nicotine gum is referred to as 'Extra Strength' gum and is twice the strength of the 2 mg gum. The 2 mg segment dominated the market and is projected to grow at the highest CAGR at 3.35% during the forecast period. The 2 mg market segment has been targeted for those who smoke fewer than 25 cigarettes a day. The other dosage segment inclusive of 1 mg, 6 mg and other dosage forms witnessed increased market growth during the period 2011-2015. The Global nicotine gum market is in the mature stage of its life cycle.
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Through this report Market Research future aims to provide understanding of the global nicotine gum market and assists identification of ongoing trends along with anticipated growth in the coming years. For this research extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted from both supply side and demand side of global nicotine gum market. The supply side industry experts consisted of CEOs, Directors, Marketing Managers, Sales Mangers, R&D Specialists, Country Manager, Regional Managers of nicotine gum companies, Retailers, and Distributors amongst others.
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