COVID-19 Impact on Nicotine Gum Market Demand and Forecast to 2022

01/giu/2020 12:28:14 suraj taur Contatta l'autore

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Market Overview

Nicotine gum is a chewing gum that helps in smoking abstinence by releasing nicotine into the bloodstream of the user. Nicotine gums, even though contains nicotine, do not contain tar likely cigarettes and other tobacco products, which is the main advantage of the product. Tar is mainly responsible for the occurrence of various oncological disorders. Market Research Future (MRFR) has recently launched a report on the COVID-19 Impact on Nicotine Gum Market and has predicted a CAGR of 3.01% over the forecast period of 2019-2022. MRFR's analysis has further asserted that the market is likely to reach a valuation of USD 5,986 Mn by the end of 2022.

Moved by the multiplying popularity of nicotine gums, manufacturers are launching new products in varied flavors to tap a broader base of consumers. Moreover, aggressive marketing and advertising activities are also helping in increasing the product visibility of nicotine gums. Nicotine gums are readily available across shops and over the counter, which has boosted their sales in recent years. Besides, the affordable price of nicotine gums remains a key selling proposition.

Regardless of the benefits of nicotine, they are aligned with various disadvantages. Heartburn, increased heart rate, high blood pressure, hiccups, nausea, indigestion, dental pain, and other symptoms associated with these gum are prohibitive of the growth of the market. The growth of the market might also be impeded by concerns of FDA regarding misuse of nicotine gums by adolescents. Substitutes and alternatives also threaten the growth of the market.

Segmentation

Global COVID-19 Impact on Nicotine Gum Market has been segmented based on type, which includes 2 mg, 4 mg, and 6 mg dosage forms. The 2mg segment accounts for almost 50% share of the global market and is likely to expand at a CAGR of 3.35% over the forecast period. The 2mg dosage of nicotine cigarettes are aimed at those smokers who smoke less than 25 cigarettes daily. The demographic of such smokers is high due to which the segment is experiencing high demand.

Competitive Landscape

Perrigo Co. Plc., Novartis Consumer Health Inc., Pfizer Inc., Fertin Pharma, Cambrex Corporation, Reynolds American, Johnson & Johnson, and Glaxosmithkline Plc. are the eminent players in the Nicotine Gum Market.

Industry Updates

May 2019 - Nicorette, a company that is involved in the production of products for nicotine replacement therapy, introduced a new nicotine lozenge. The product is the first major product innovation in the last ten years. The new nicotine lozenge has a punch of minty flavor and has a smoother texture, unlike other nicotine lozenges which are generally chalky.

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Regional Analysis

Region-wise, the COVID-19 Impact on Nicotine Gum Market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).

In 2015, North America led the global nicotine gum market. High awareness regarding nicotine gum, easy availability of smoking cessation therapies, and the availability of a range of nicotine replacement products in the region is supporting the growth of the market. Various programs aimed at curbing smoking also play a key role in the growth of the North America nicotine gum market. The North America market is anticipated to capture a CAGR of 2.66% over the forecast period.

Europe is a prime destination for nicotine gum exports and accounts for an advantageous share of the market. The presence of leading players in Europe as well as in North America has provided an additional advantage to these markets. However, these markets are approaching maturity, and the market growth in these regions is likely to decline to some extent. The APAC market is likely to be a lucrative market for nicotine gum. Spreading awareness and the increasing availability of nicotine products are spurring the growth of the market.

Related Covid-19 Analysis on FnB Reports:

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https://www.marketresearchfuture.com/report/covid-19-impact-alternative-sweeteners-market

https://www.marketresearchfuture.com/report/covid-19-impact-artisan-bakery-market

https://www.marketresearchfuture.com/report/covid-19-impact-rtd-beverages-market

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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