Global Nicotine Gum Market to Reach US$ 2 Billion by 2027
The global nicotine gum market, valued at US$ 1.5 billion in 2021, is projected to reach US$ 2.0 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 5.04% during 2022-2027, according to a new study by IMARC Group. Nicotine gum, which contains a small amount of nicotine absorbed through the mouth's lining, is used to help smokers reduce nicotine cravings and overcome smoking addiction.
The report identifies a rising awareness of the harmful effects of smoking, such as increased risks of stroke, heart disease, and lung cancer, as a key driver of market growth. As health consciousness grows, governing agencies across various countries are promoting smoking cessation programs, encouraging new industry investments.
Additionally, manufacturers are innovating with diverse flavors to attract a broader consumer base, a trend anticipated to positively impact market growth in the forthcoming years.
Competitive Landscape
The market's competitive landscape has been studied in the report with detailed profiles of the key players operating in the market:
American Tobacco Indus (BTI),
Cambrex Corporation (CBM),
GlaxoSmithKline PLC (GSK),
ITC (ITC.NS),
Johnson & Johnson Services,
Novartis, Perrigo,
Pfizer,
Takeda Pharmaceutical Company, etc.
Applications
Withdrawal Clinics
Medical Practice
Individual Smokers
Others
Distribution Channel
Retail Pharmacies
Specialty Stores
Online Stores
Others
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