Global Nicotine Gum Market Expected to Grow to $1.8 billion by 2023

Industry Insight by 2FIRSTS.ai
Nov.21.2023
Global Nicotine Gum Market Expected to Grow to $1.8 billion by 2023
Global nicotine gum market is estimated to reach $1.2 billion in 2022, expected to grow to $1.8 billion by 2030, driven by increasing demand for nicotine replacement therapy (NRT) products.

According to media reports on November 20th, 2022, the global nicotine gum market is estimated to be valued at $1.2 billion, with expectations for it to grow to $1.8 billion by 2030.

 

The compound annual growth rate (CAGR) of this market is projected to be 5.7% from 2023 to 2030. The increasing global demand for nicotine replacement therapy (NRT) products, particularly nicotine gum, is the main driving factor behind this growth. With a growing number of tobacco consumers seeking effective smoking cessation methods and attempting to reduce their exposure to harmful substances in cigarette smoke, the demand for NRT products is on the rise.

 

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