Global Nicotine Gum Market Overview:
Nicotine gum is a smoking cessation product that helps smokers to slowly overcome their nicotine addiction. Nicotine is released by chewing the gum and is absorbed into the blood stream through the lining of the mouth, which helps smokers to slowly reduce their craving for nicotine thus helping them quit smoking. It is one of nicotine replacement therapies (NRT’s) that we have available today and is an over-the-counter medication. To tap a wider range of the consumer market, various flavours of nicotine gums including lemon, cinnamon, fruit, mint and others, have been introduced.
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Global Nicotine Gum Market Size and Share Analysis:
The unique features of the product including rapid alleviation of nicotine withdrawal symptoms, capability of protecting oral mucosa, fluid-engendering, and throat-moistening have contributed to innovation in the nicotine gum market. The 2 mg segment dominated with a market share of more than 50% and is projected to grow at the highest CAGR of 3.35% during the forecast period. The global nicotine gum market is at the maturity stage of its life cycle. NRT is known to help in long-term quitting by 50-70%.
North America dominates the Global Nicotine Gum Market?
The global nicotine gum market is estimated to grow at a CAGR of 4.62% till 2023 to reach $5,986 million. The major markets for this segment are North America, Asia Pacific, Europe, and Latin America. The North American region had the largest market share 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 emerging as new target region, including China, India, Japan and South-East Asian countries.
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Leading Players in this Global Nicotine Gum Market are:
Novartis Consumer Health Inc, Perrigo Co. Plc., Pfizer Inc., Fertin Pharma, Glaxosmithkline Plc., Johnson & Johnson, Cambrex Corporation, and Reynolds American.
Despite its high benefits, there are side-effects that include an increased heart rate, increased blood pressure, oral irritation, dental pain, hiccups, heartburn, nausea and indigestion, which has limited the nicotine gum potential demand. However, this has not deterred the market and there has been an increase in demand for Nicotine Replacement Therapy (NRT) and its products.
The prime objective of innovation in nicotine gum products and processes include achieving reductions in cigarette consumption by offering various product forms, flavours, and packaging styles. Increase in health awareness and higher availability of nicotine gum globally will support the market growth in the coming years.
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