Nicotine gum market size to grow by USD 1.01 billion from 2020 to 2025: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 23, 2023 /PRNewswire/ -- The global nicotine gum market size is estimated to increase by USD 1.01 billion from 2020 to 2025. However, the market's growth momentum will decelerate at a CAGR of 4.43% during the forecast period. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others – Buy the report!

Global nicotine gum market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global nicotine gum market – Vendor analysis
Vendor landscape –

The global nicotine gum market is fragmented, with the presence of several international and domestic vendors. A few prominent vendors that offer nicotine gum in the market are British American Tobacco Plc, Cambrex Corp., Cipla Inc., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., ITC Ltd., Johnson and Johnson Inc., Lil Drug Store Products Inc., Major Pharmaceuticals Inc., Walgreen Co., and others.

The market is subject to rapidly changing consumer demands and preferences. Vendors in the market compete on several factors, such as quality, price, service, brand image, distribution, and marketing. Moreover, major vendors are focusing on acquiring smaller brands to increase their market presence.

Vendor offerings -

• British American Tobacco Plc - The company offers nicotine gum products under the brand name of Lyft.
• Cambrex Corp. - The company offers nicotine gum products under the brand name Nicotine Polacrilex.
• Cipla Inc. - The company offers nicotine gum products under the brand name Nicotex.
• GlaxoSmithKline Plc - The company offers nicotine gum products under the brand name Nicotinell.
• For details on vendors and their offerings - Request a sample report

Global nicotine gum market - Segmentation assessment

Segment overview
Technavio has segmented the market based on product (2-mg nicotine and 4-mg nicotine). 

• The 2-mg nicotine segment will account for a significant share of the market's growth during the forecast period. In 2021, this segment dominated the global nicotine gums market, with a 70.9% revenue share. The growth of the 2-mg nicotine segment is attributed to factors such as the increasing number of new flavors.

Geography overview
Based on geography, the global nicotine gum market is segmented into North America, Europe, APAC, South America, and MEA. The report provides actionable insights and estimates the contribution of all regions to the growth of the global nicotine gum market.

• North America will account for 31% of the market's growth during the forecast period. The US is a key country for the nicotine gum market in North America. Moreover, market growth in this region will be faster than the growth of the market in Europe. Many people in the region are trying to quit smoking, which will drive the nicotine gum market growth in North America during the forecast period.

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Global nicotine gum market – Market dynamics

Leading drivers - The increasing number of people trying to quit smoking is driving the nicotine gum market growth. Many people across the world are trying to quit smoking with the help of various smoking cessation aids, such as e-cigarettes and nicotine gum. Public awareness programs and campaigns are being conducted across the world to encourage people to stop smoking. For instance, the World Health Organization (WHO) observes May 31^st of every year as World No Tobacco Day. Similarly, Campaign for Tobacco-Free Kids helps people reduce tobacco use. Such awareness programs are expected to fuel the market growth during the forecast period.

Key trends – The launch of new products is a key trend in the market. Successful product launches increase the revenue inflow and market share of players. They also retain the interest of consumers in the market. For instance, in February 2020, Lucy goods launched a new nicotine gum product with cinnamon fruit and mint flavor in California, US. Such product launches will support the nicotine gum market growth during the forecast period.

Major challenges - Health issues associated with smoking cessation products are challenging the nicotine gum market growth. Long-term use of nicotine gums can lead to health issues such as hair loss and skin irritation. In addition, users of nicotine gums are at a higher risk of heart palpitations and chest pain. Such health issues may impede the market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this nicotine gum market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the nicotine gum market between 2021 and 2025
• Precise estimation of the size of the nicotine gum market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the nicotine gum market across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Nicotine Gum Market vendors

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Table of contents

1. Executive Summary 

  1.1 Market Overview

  Exhibit 01:  Key Finding 1

  Exhibit 02:  Key finding 2

  Exhibit 03:  Key finding 3

  Exhibit 04:  Key finding 5

  Exhibit 05:  Key finding 6

  Exhibit 06:  Key Finding 7

  Exhibit 07:  Key Finding 8

2. Market Landscape 

  2.1 Market ecosystem 

  2.1.1 Parent market

  Exhibit 08:  Parent market

  Exhibit 09:  Market characteristics

  2.2 Value chain analysis 

  Exhibit 10:  Value chain analysis: Tobacco market

  2.2.1 Inputs

  2.2.2 Inbound logistics

  2.2.3 Operations

  2.2.4 Outbound logistics

  2.2.5 Marketing and sales

  2.2.6 Support activities

  2.2.7 Innovations

3. Market Sizing 

  3.1 Market definition

  Exhibit 11:  Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 12:  Market segments

  3.3 Market size 2021 

  3.4 Market outlook: Forecast for 2021 - 2025 

  3.4.1 Estimating growth rates for emerging and high-growth markets

  3.4.2 Estimating growth rates for mature markets

  Exhibit 13:  Global - Market size and forecast 2020 - 2025 ($ million)

  Exhibit 14:  Global market: Year-over-year growth 2020 - 2025 (%)

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 15:  Five forces analysis 2020 & 2025

  4.2 Bargaining power of buyers 

  Exhibit 16:  Bargaining power of buyers

  4.3 Bargaining power of suppliers 

  Exhibit 17: Bargaining power of suppliers

  4.4 Threat of new entrants 

  Exhibit 18:  Threat of new entrants

  4.5 Threat of substitutes 

  Exhibit 19: Threat of substitutes

  4.6 Threat of rivalry 

  Exhibit 20: Threat of rivalry

  4.7 Market condition

  Exhibit 21:  Market condition - Five forces 2020

5. Market Segmentation by Product 

  5.1 Market segments

  The segments covered in this chapter are:

• 2-mg nicotine
• 4-mg nicotine

  Exhibit 22:  Product - Market share 2021-2025 (%)

  5.2 Comparison by Product 

  Exhibit 23:  Comparison by Product

  5.3 2-mg nicotine - Market size and forecast 2020-2025 

  Exhibit 24:  2-mg nicotine - Market size and forecast 2020-2025 ($ million)

    Exhibit 25:  2-mg nicotine - Year-over-year growth 2020-2025 (%)

  5.4 4-mg nicotine - Market size and forecast 2020-2025 

  Exhibit 26:  4-mg nicotine - Market size and forecast 2020-2025 ($ million)

  Exhibit 27:  4-mg nicotine - Year-over-year growth 2020-2025 (%)

  5.5 Market opportunity by Product 

  Exhibit 28:  Market opportunity by Product

6. Customer landscape 

  Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

  6.1 Overview

  Exhibit 29:  Customer landscape

7. Geographic Landscape 

  7.1 Geographic segmentation

  The regions covered in the report are:

• North America
• Europe
• APAC
• South America
• MEA

  Exhibit 30:  Market share by geography 2020-2025 (%)

  7.2 Geographic comparison 

  Exhibit 31:  Geographic comparison

  7.3 North America - Market size and forecast 2020-2025 

  Exhibit 32:  North America - Market size and forecast 2020-2025 ($ million)

  Exhibit 33:  North America - Year-over-year growth 2020-2025 (%)

  7.4 Europe - Market size and forecast 2020-2025 

  Exhibit 34:  Europe - Market size and forecast 2020-2025 ($ million)

  Exhibit 35:  Europe - Year-over-year growth 2020-2025 (%)

  7.5 APAC - Market size and forecast 2020-2025 

  Exhibit 36:  APAC - Market size and forecast 2020-2025 ($ million)

  Exhibit 37:  APAC - Year-over-year growth 2020-2025 (%)

  7.6 South America - Market size and forecast 2020-2025 

  Exhibit 38:  South America - Market size and forecast 2020-2025 ($ million)

  Exhibit 39:  South America - Year-over-year growth 2020-2025 (%)

  7.7 MEA - Market size and forecast 2020-2025 

  Exhibit 40:  MEA - Market size and forecast 2020-2025 ($ million)

  Exhibit 41:  MEA - Year-over-year growth 2020-2025 (%)

  7.8 Key leading countries 

  Exhibit 42:  Key leading countries

  7.9 Market opportunity by geography

  Exhibit 43:  Market opportunity by geography ($ million)

8. Drivers, Challenges, and Trends 

  8.1 Market drivers 

  8.1.1 Increasing number of people trying to quit smoking

  8.1.2 Increasing awareness about the harmful effects of cigarette smoking

  8.1.3 Growing enrolment in smoking cessation therapies

  8.2 Market challenges 

  8.2.1 Health issues associated with smoking cessation products

  8.2.2 Increasing use of e-cigarettes among teenagers

  8.2.3 Presence of substitute products

  8.2.4 Stringent regulations

  Exhibit 44:  Impact of drivers and challenges

  8.3 Market trends 

  8.3.1 New product launch

  8.3.2 Addiction to nicotine gums

  8.3.3 Increasing awareness regarding health hazards associated with smoking

9. Vendor Landscape 

  9.1 Overview

  Exhibit 45:  Vendor landscape

  9.2 Landscape disruption 

  Exhibit 46:  Landscape disruption

  Exhibit 47:  Industry risks

  9.3 Competitive scenario 

10. Vendor Analysis 

  10.1 Vendors covered 

  Exhibit 48:  Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 49: Market positioning of vendors

  10.3 British American Tobacco Plc 

  Exhibit 50:  British American Tobacco Plc - Overview

  Exhibit 51:  British American Tobacco Plc - Business segments

  Exhibit 52:  British American Tobacco Plc - Key offerings

  Exhibit 53:  British American Tobacco Plc - Segment focus

  10.4 Cambrex Corp. 

  Exhibit 54:  Cambrex Corp. - Overview

  Exhibit 55:  Cambrex Corp. - Product and service

  Exhibit 56:  Cambrex Corp. - Key offerings

  10.5 Cipla Inc.

  Exhibit 57:  Cipla Inc. - Overview

  Exhibit 58:  Cipla Inc. - Business segments

  Exhibit 59:  Cipla Inc. - Key offerings

  Exhibit 60:  Cipla Inc. - Segment focus

  10.6 GlaxoSmithKline Plc 

  Exhibit 61:  GlaxoSmithKline Plc - Overview

  Exhibit 62:  GlaxoSmithKline Plc - Business segments

  Exhibit 63:  GlaxoSmithKline Plc - Key offerings

  Exhibit 64:  GlaxoSmithKline Plc - Segment focus

  10.7 Glenmark Pharmaceuticals Ltd. 

  Exhibit 65:  Glenmark Pharmaceuticals Ltd. - Overview

  Exhibit 66:  Glenmark Pharmaceuticals Ltd. - Business segments

  Exhibit 67:  Glenmark Pharmaceuticals Ltd. - Key offerings

  Exhibit 68:  Glenmark Pharmaceuticals Ltd. - Segment focus

  10.8 ITC Ltd.

  Exhibit 69:  ITC Ltd. - Overview

  Exhibit 70:  ITC Ltd. - Business segments

  Exhibit 71:  ITC Ltd. - Key offerings

  Exhibit 72:  ITC Ltd. - Segment focus

  10.9 Johnson and Johnson Inc.  

  Exhibit 73:  Johnson and Johnson Inc.  - Overview

  Exhibit 74:  Johnson and Johnson Inc.  - Business segments

  Exhibit 75:  Johnson and Johnson Inc.  - Key offerings

  Exhibit 76:  Johnson and Johnson Inc.  - Segment focus

  10.10 Lil Drug Store Products Inc. 

  Exhibit 77:  Lil Drug Store Products Inc. - Overview

  Exhibit 78:  Lil Drug Store Products Inc. - Product and service

  Exhibit 79:  Lil Drug Store Products Inc. - Key offerings

  10.11 Major Pharmaceuticals Inc. 

  Exhibit 80:  Major Pharmaceuticals Inc. - Overview

  Exhibit 81:  Major Pharmaceuticals Inc. - Product and service

  Exhibit 82:  Major Pharmaceuticals Inc. - Key offerings

  10.12 Walgreen Co. 

  Exhibit 83:  Walgreen Co. - Overview

  Exhibit 84:  Walgreen Co. - Product and service

  Exhibit 85:  Walgreen Co. - Key offerings

11. Appendix 

  11.1 Scope of the report 

  11.1.1 Market definition

  11.1.2 Objectives

  11.1.3 Notes and caveats

  11.2 Currency conversion rates for US$ 

  Exhibit 86:  Currency conversion rates for US$

  11.3 Research Methodology 

  Exhibit 87:  Research Methodology

  Exhibit 88:  Validation techniques employed for market sizing

  Exhibit 89:  Information sources

  11.4 List of abbreviations 

  Exhibit 90:  List of abbreviations

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