The Tobacco Alternative Gums Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Tobacco Alternative Gums Global Market Report 2024, The tobacco alternative gums market size is expected to see strong growth in the next few years. It will grow to $3.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to growing health awareness, innovation in formulations, a growing market for smoking cessation products, shifts in consumer preferences, and the and the regulatory environment. Major trends in the forecast period include improved delivery systems with technological advancements, integration with digital tools and apps, a broader range of flavors and natural ingredients, rising market size for smoking cessation products, a supportive regulatory environment, and government policies.
The growing awareness of smoking dangers is expected to propel the growth of the tobacco alternative gums market going forward. Smoking dangers refer to the harmful health effects caused by inhaling tobacco smoke. The increased public health campaigns, extensive scientific research, and stringent policy changes are key factors contributing to the heightened awareness of smoking dangers. These efforts collectively help educate the public and drive down smoking rates. Tobacco alternative gums help mitigate smoking dangers by providing a nicotine-free substitute that reduces cravings and withdrawal symptoms while avoiding the harmful effects of tobacco smoke. For instance, according to the Federal Trade Commission, a US-based government agency, in the 2022 published cigarette report, major producers sold or distributed 173.5 billion cigarettes, an 8.8% reduction from 2021. Therefore, the growing awareness of smoking dangers will drive the growth of the tobacco alternative gums market.
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The tobacco alternative gums market covered in this report is segmented –
1) By Type: 2 Mg, 4 Mg, Other Types
2) By Deployment: Nicotine Gums, Herbal Gums, Other Deployments
3) By Application: Pharmacies And Chemist Outlets, Supermarkets And Hypermarkets, Convenience Stores, Online Retailers
Major companies operating in the tobacco alternative gums market are adopting a strategic partnership approach to enhance their product innovations and market reach. A strategic partnership typically refers to a collaborative relationship between two or more organizations combining their resources, expertise, and efforts to achieve common goals or objectives. For instance, in May 2024, Ryze, a nicotine gum brand under Fertin Pharma, a Denmark-based pharmaceutical company, partnered with 100Days.co, an India-based digital commerce specialist, to drive its launch and growth in India. Ryze aims to promote healthier lifestyles by offering nicotine gums in flavors suited to the Indian palate, including mint, fruit, saunf, pudina, and paan, helping smokers quit and improve their well-being.
The tobacco alternative gums market report table of contents includes:
1. Executive Summary
2. Tobacco Alternative Gums Market Characteristics
3. Tobacco Alternative Gums Market Trends And Strategies
4. Tobacco Alternative Gums Market – Macro Economic Scenario
5. Global Tobacco Alternative Gums Market Size and Growth
…..
32. Global Tobacco Alternative Gums Market Competitive Benchmarking
33. Global Tobacco Alternative Gums Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Tobacco Alternative Gums Market
35. Tobacco Alternative Gums Market Future Outlook and Potential Analysis
36. Appendix
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