“Global Nicotine Gum Market to reach a market value of USD 2.3 Billion by 2031 growing at a CAGR of 5.4%”
The Global Nicotine Gum Market size is expected to reach $2.3 billion by 2031, rising at a market growth of 5.4% CAGR during the forecast period. In the year 2023, the market attained a volume of 40,162.58 thousand units (100pcs. Per pack) experiencing a growth of 2.2% (2020-2023).
Several governments in the Asia Pacific are putting stronger tobacco control laws and regulations into effect to lower smoking rates. Policies supporting smoking cessation programs and endorsing NRTs like nicotine gum further drive demand for these products among smokers looking to quit. Therefore, the Asia pacific region would acquire nearly 23% of the total market share by 2031. Also, the China market would consume 2,597.52 thousand units of these gums by 2031.
As people become more aware of the severe health risks linked to smoking, including cancer, heart disease, respiratory issues, and other chronic conditions, they are more motivated to quit. In addition, healthcare providers frequently recommend this gum as part of smoking cessation programs. In conclusion, increasing awareness of health risks drives the market's growth. Additionally, Due expanding distribution channels, this becomes more accessible to a broader population of smokers seeking cessation aids. Due expanding distribution channels, this gum becomes more accessible to a broader population of smokers seeking cessation aids. In conclusion, expanding the distribution channels is driving the market's growth.
However, Heavy smokers typically have a higher level of nicotine dependence, which means they require a larger amount of nicotine to satisfy their cravings and avoid withdrawal symptoms. In addition, to compensate for the lower nicotine dose, heavy smokers may need to use nicotine gum more frequently. Thus, limited effectiveness for heavy smokers is hindering the growth of the market.
On the basis of distribution channel, the market is segmented into supermarkets & hypermarkets, pharmacies, and online stores. In 2023, the supermarkets and hypermarkets segment attained 32% revenue share in the nicotine gum market. Supermarkets and hypermarkets typically stock diverse nicotine gum brands, flavors, and strengths, catering to various consumer preferences and smoking cessation needs. This variety allows consumers to compare products and choose options that best suit their nicotine dependence level and taste preferences.
Based on type, the market is divided into 2mg and 4mg. The 4mg segment attained 44% significant revenue share in the nicotine gum market in 2023. The segment recorded a volume of 16,662.13 thousand units in 2023. Individuals who smoke heavily or are highly dependent on nicotine often require higher doses to manage cravings and withdrawal symptoms effectively.
Free Valuable Insights: Global Nicotine Gum Market size to reach USD 2.3 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 42% revenue share in the nicotine gum market in 2023. Historically, North America has had relatively high smoking rates compared to other regions. The prevalence of smoking has led to a significant market for smoking cessation products like nicotine gum, which helps individuals manage nicotine cravings and reduce tobacco consumption.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.6 Billion |
| Market size forecast in 2031 | USD 2.3 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.4% from 2024 to 2031 |
| Quantitative Data | Volume in thousand units (100pcs. Per pack), Revenue in USD Billion, and CAGR from 2020 to 2031 | Number of Pages | 228 |
| Tables | 488 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Distribution Channel, Region |
| Country scope |
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| Companies Included | Johnson & Johnson, Novartis AG, ITC Limited, Cipla Limited, Perrigo Company PLC, Philip Morris International, Inc., ALCHEM INTERNATIONAL PVT. LTD. and Alkalon A/S |
By Type (Volume, thousand units (100pcs. Per pack), USD Billion, 2020-2031)
By Distribution Channel (Volume, thousand units (100pcs. Per pack), USD Billion, 2020-2031)
By Geography (Volume, thousand units (100pcs. Per pack), USD Billion, 2020-2031)
This Market size is expected to reach $2.3 billion by 2031.
Increasing awareness of health risks from smoking are driving the Market in coming years, however, Limited effectiveness for heavy smokers restraints the growth of the Market.
Johnson & Johnson, Novartis AG, ITC Limited, Cipla Limited, Perrigo Company PLC, Philip Morris International, Inc., ALCHEM INTERNATIONAL PVT. LTD. and Alkalon A/S
In the year 2023, the market attained a volume of 40,162.58 thousand units (100pcs. Per pack) experiencing a growth of 2.2% (2020-2023).
The 2 mg segment led the Market by Type in 2023; thereby, achieving a market value of $1.1 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $820.4 million by 2031.
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