The global nicotine replacement products market is expected to reach USD 3.11 billion by 2025, thereby growing at a CAGR of 3.95% from 2017 to 2025. The increased consumer awareness concerning the health risks associated with consuming nicotine will drive the market growth over the forecast period. The anti-smoking campaigns aimed at spreading awareness about the long terms risks of smoking tobacco also helps the nicotine replacement products to gain more visibility.
According to a report by the World Health Organization (WHO), every year the number of deaths by tobacco smoking has surpassed 7 million, thereby turning out to be one of the leading causes of deaths across the world. It is further anticipated that the number of tobacco smokers will reach around 1.8 billion, thereby causing more than 10 million deaths due to tobacco smoking, by 2030.
The alarming rise in the number of tobacco-related deaths is expected to drive the anti-smoking associations and campaigns to create awareness about the nicotine replacement products. Moreover growing awareness about smoking cessation among the consumers is driving the global nicotine replacement market across the globe.
Among the various types of nicotine replacement products, gums are the most preferred form for smokers. Nicotine gums account for the maximum retail sales as they are easily accessible, easy to consume and also available in various flavors. These are usually best suited for consumers who are looking for ways to calm the cravings while running in between a busy schedule.
Brands such as NicotacTM are available in a convenient 10 piece pack that can be easily carried. Chewing gums induced with flavors help in driving the acceptance of these products among the consumers. Patches are gaining increasing traction in the global nicotine replacement products market due to its benefits for consumers subtly dealing with withdrawal symptoms as these products do not require to be consumed actively.
Pharmacies account for the maximum sales of these products due to the safety standards. This distribution channel is expected to grow with a CAGR of 4.13% from 2017 to 2025, thereby reaching a market value of USD 2.32 billion by 2025. With an aim to achieve incremental sales and make these products readily available for the consumers, these products are being offered through online platforms. Keeping in mind the busy lifestyle and tech-savvy consumers, the manufacturers are increasingly focusing on providing its products through common online platforms.
North America accounted for the largest share in the global market in 2017, having a value of USD 0.82 billion. This scenario is attributed to increasing health awareness among consumers. Each U.S. smoker spends more than USD 10.88 on nicotine replacement products. The market is expected to witness stable growth over the next few years, thereby reaching a value of USD 1.12 billion in 2025.
The market is consolidated in nature with a few major companies accounting for more than 65% of the total share. Johnson & Johnson, GlaxoSmithKline, and Perrigo Company plc, represents the top 3 companies in the market. Other major players include Novartis, ITC Limited, British American Tobacco plc, Glenmark, Cipla, Alchem International Pvt. Ltd., and Fertin Pharma. Lil’ Drug Store Products, the marketers of NicotacTM brand chewing gums, had recommended the placing of the products at the check-out counters near other tobacco products which would create better visibility. Companies are resorting to additional ways to boost up the awareness such as in-store display featuring various gum flavors at discounted prices.
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Hexa Research has segmented the global nicotine replacement products market report based on type, distribution channel and region:-
Segmentation by Product Type
• Chewing Gums
• Lozenges
• Patches
Segmentation by Distribution Channel
• Supermarket and Hypermarket
• Pharmacies
• Online
Segmentation by Region
• North America
• Europe
• Asia Pacific
• Central and South America
• Middle East and Africa
Key players analyzed:
• GlaxoSmithKline
• Johnson & Johnson
• Novartis
• ITC Limited
• British American Tobacco plc
• Glenmark
• Cipla
• Alchem International Pvt. Ltd.
• Perrigo Company plc
• Fertin Pharma