Global Nicotine Gum Market is expected to exhibit a strong CAGR of 3.01% over the forecast period from 2016 to 2022, according to a New Research Report from Market Research Future (MRFR). The global nicotine gum market is expected to rise to a valuation of USD 5,986 million by 2022, driven by the growing demand from consumers to lead a healthier lifestyle and the growing government support for widespread distribution of nicotine gum.
Nicotine gum is a chewing gum product that releases nicotine into the bloodstream of the user, which leads to the user satiating their nicotine cravings and not requiring a cigarette. The primary advantage of nicotine gum over cigarettes is that nicotine gum doesn’t contain any tar, which is the primary cancer-causing ingredient in regular cigarettes. The growing number of people looking to quit smoking has driven the global nicotine gum market over the last few years. The increasing awareness among people about the harmful effects of tobacco products and the growing desire to live a healthier life has been vital for the global nicotine gum market and is likely to drive the global market over the forecast period.
Leading players in the Global Nicotine Gum Market include Novartis Consumer Health Inc., Pfizer Inc., GlaxoSmithKline plc, Cambrex Corporation, Reynolds American, Johnson & Johnson, Fertin Pharma, and Perrigo Co. plc.
In February 2019, the U.S. FDA released the second draft guidance for the development of novel nicotine replacement therapies, titled “Smoking Cessation and Related Indications: Developing Nicotine Replacement Therapy Drug Products”. The government in the U.S. has played a key role in reducing the prevalence of a smoking habit by assessing the efficacy of various nicotine replacement options and basing their policies on the findings of the assessment. Government support is likely to be important for the global nicotine gum market over the forecast period.
The global nicotine gum market is segmented by dosage into 2 mg, 4 mg, and others. The 2 mg segment is likely to grow at the highest CAGR of 3.35% over the forecast period. The 2 mg segment also held a leading share of more than 50% in the global nicotine gum market in 2015. The 2 mg segment is targeted at people who smoke less than 25 cigarettes a day. The high prevalence of this user demographic is likely to drive the 2 mg segment over the forecast period.
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North America dominates the global nicotine gum market due to the growing awareness about the benefits of nicotine gum and the easy availability of a wide range of tobacco replacement products in the region. The growing government support to the nicotine gum market is also likely to play a key role in the development of the North America nicotine market over the forecast period. The North America market for nicotine gum is expected to exhibit a strong 2.66% CAGR over the forecast period thanks to the growing demand for a wide variety of nicotine gum products.
Europe is also a leading consumer in the global nicotine gum market due to the growing desire among European consumers to quit smoking. The strong presence of several leading nicotine gum manufacturers in North America and Europe is also likely to be a major driver for the global nicotine gum market over the forecast period.