According to a new report, published by KBV research, 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).
Nicotine gum is a form of nicotine replacement therapy (NRT) that is intended to assist individuals in quitting smoking or reducing their nicotine dependence. Nicotine is the active constituent in chewing gum, which is released and absorbed through the mouth's lining when chewed. In addition, nicotine gum is primarily utilized as a smoking cessation aid, offering a controlled and convenient method for individuals to manage nicotine cravings and gradually reduce their dependence on cigarettes. However, beyond its primary application in smoking cessation, nicotine gum has several other potential applications and uses.
The 2 mg segment led the Global Nicotine Gum Market by Type in 2023; thereby, achieving a market value of $1.1 billion by 2031. The segment appeals to individuals who are in the process of quitting smoking and prefer a gradual reduction in nicotine intake. It functions effectively as a smoking cessation aid by delivering nicotine in a controlled manner to relieve withdrawal symptoms and support users in gradually reducing their nicotine dependence.
The Pharmacies segment is growing at a CAGR of 5 % during the forecast period. Pharmacies are widely accessible to consumers in urban and rural areas, offering convenient access to nicotine gum products. For people looking for a handy smoking cessation treatment, nicotine gum is readily available without a prescription in many regions, making it a great choice.
Full Report: https://www.kbvresearch.com/nicotine-gum-market/
The North America region dominated the Global Nicotine Gum 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. The Europe region is anticipated to grow at a CAGR of 5% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 6.1% during (2024 - 2031).
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)
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