According to FIFNANCIAL POST news, people familiar with the matter said that nicotine gum manufacturer Fertin Pharma has been acquired by several companies, including tobacco giant Philip Morris International.
As the world pays more and more attention to health, Philip Morris has been working hard to expand non-tobacco products, among which the best-selling snus brand ZYN is well-known worldwide.
According to the market trend and consumer habits, the convenience and safety of nicotine gum will be greater than snus. According to PR Newswire data, the global nicotine gum market size is expected to grow by US$1.34 billion between 2024 and 2028, and the market compound annual growth rate is expected to reach 5.71% during the forecast period.
More and more people are trying to quit smoking, and the tax on e-cigarettes in various countries has increased. More people will choose nicotine delivery as a substitute, which has driven the market growth and will inevitably show an upward trend.
The demand for substitutes and smoking cessation aids is also growing. Moreover, public health campaigns and regulations aimed at reducing smoking rates have further fueled the market expansion. These factors together have contributed to the market’s growth, highlighting the ongoing efforts to address smoking-related health issues and focus on smoking cessation and nicotine withdrawal.
The North American market is witnessing substantial growth as many people in the region are trying to quit smoking. Moreover, the U.S., Mexico, and Canada are the major countries with high potential for the North American nicotine gum market.
Segmentation by distribution channel
The growing preference for offline segments will boost market growth. In the context of reducing tobacco consumption, the market includes sales of nicotine replacement therapy (NRT) products, especially gum, with drugstores and supermarkets/hypermarkets dominating the distribution segment, offering a wide range of NRT products, including nicotine gum brands such as Nicorette.
Segmentation by product
Most of the 2 mg nicotine segments are expected to witness significant growth during the forecast period. The market witnessed significant growth in 2022, with light smokers and health-conscious consumers being the major consumers. Online stores have become a popular platform for purchasing nicotine gum, especially for those following a smoking cessation program.
Detailed summary of the market segments
Regulatory compliance and changes in consumer preferences have led to the introduction of new products such as flavored gums, lozenges, dissolvable films, small nicotine pouches, and personalized gum products. Awareness of smoking cessation and concern for health and well-being continue to drive market expansion during the forecast period. Therefore, these factors are driving the growth of this segment, which in turn drives market growth during the forecast period.
The market has also seen sustained growth due to the entry of new players and expansion of product offerings. The market is expected to grow in the coming years with a focus on developing new flavors, improving product efficacy, and exploring new distribution channels.
This new type of nicotine product is an important segment in the tobacco industry, featuring products that deliver nicotine through chewing gum. These gums are considered an alternative to traditional smoking, making them a popular choice for consumers who want to quit smoking or reduce their tobacco intake. In short, the market is a dynamic and growing industry driven by consumer demand for alternative nicotine delivery methods.
In the rapid growth of this market, Veehoo vape, as a company committed to providing safe and compliant products, is also paying attention to the development of this trend. As consumers pay more and more attention to health, nicotine gum, as an alternative to traditional smoking, is gradually becoming one of the first choices for consumers who want to quit smoking or reduce their tobacco intake.
As the global nicotine gum market size is expected to continue to grow in the next few years, Veehoo will continue to pay attention to and adapt to market changes. In this vibrant and growing industry, Veehoo will continue to be committed to providing standard, stable and reliable products, focusing on health and well-being with consumers, and supporting consumers in finding suitable alternatives in the process of quitting smoking.
Through close attention to market trends and continuous innovation, Veehoo will continue to provide consumers with a variety of choices, helping consumers find suitable nicotine product alternatives in the context of increasing health awareness. In this emerging nicotine product market, Veehoo will continue to play an active role, provide consumers with safe and reliable choices, and meet future challenges and opportunities with the industry.
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