NICOTINE GUM MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Nicotine Gum Market Analysis:

The anticipated growth of the Nicotine Gum Market is projected to increase from USD 1.47 billion in 2023 to USD 1.79 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 4.11% during the forecast period (2023–2028).

The market for nicotine gums and patches is influenced by several factors, including the increasing preference for smoking cessation aids, government initiatives to regulate tobacco consumption, and the escalating number of fatalities caused by smoking. For instance, the United Kingdom government’s objective to become smoke-free by 2030 has resulted in significant investments in stop-smoking services and other initiatives aimed at assisting consumers in quitting smoking. Similarly, Johnson & Johnson’s donation of nicotine patches to the Ministry of Health of Jordan exemplifies efforts to support smoking cessation during the COVID-19 pandemic and beyond.

The global demand for nicotine replacement therapy (NRT) products such as nicotine gum has risen in recent years, driven by cigarette smokers seeking to reduce their exposure to hazardous chemicals in tobacco smoke. Recent developments in the worldwide NRT industry include the introduction of longer-lasting gums and the increasing popularity of flavored alternatives. The number of individuals utilizing NRT to help them quit smoking has also increased, as has the percentage of doctors who advocate for its use.

The Food and Drug Administration (FDA) has approved nicotine gum as a medicine to aid in quitting smoking. It is frequently combined with nicotine patches to manage stronger cravings and prevent withdrawal symptoms. The growing awareness of the health hazards associated with smoking has resulted in a surge in the number of people attempting to quit smoking, thereby boosting sales of nicotine gum products.

Furthermore, the high number of deaths caused by smoking has prompted manufacturers to develop new products that reduce tobacco-related harm, thereby driving market growth. For example, according to the World Health Organization (WHO), the number of tobacco smokers in the African, American, European, and South East Asian regions will be 62, 118, 168, and 418 million, respectively, by 2025.

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