Global Nicotine Pouches Market:
The global nicotine pouches market is expected to be valued at US$ 619.9 million in market and growing at a CAGR of 30.9% over the forecast period by 2026. They attain popularity by considering as an alternative delivery mechanism for nicotine replacement therapy as it was cost effective and no side effect. There are few factors which hung the market, issue that product may raise the risk of cancer, heart disease, reproductive or developmental harms and lack of medical data showing the pouches are safer than cigarettes are constructive restrain. New innovative white pre-portioned pouches containing nicotine but no tobacco with better medical research can open up intense of opportunity in the field of global nicotine pouches market.
Increasing Number of People Who Wanted to Quit Smoking
It is noticed that the global nicotine pouches market is influenced mainly by the number of people who wanted to quit smoking which is the key factor causing the nicotine pouches market to grow. Nicotine improves mood smokers commonly report increased pleasure, reduced anger and tension, depression, and stress after smoking a cigarette hence quitting is not possible in a day. Withdrawal is a syndrome of symptoms that occur when a regular user abruptly stops use (e.g. following or during a quit attempt). Nicotine withdrawal is viewed as separate, albeit related, disorders, each with its own specific diagnostic criteria hence acting as a driver towards global nicotine pouches market.
North America Dominates the Market Share in the Global Nicotine Pouches Market
North America contributed major revenue followed by Europe and Asia Pacific. In 2019, North America region accounted huge growth rate and is anticipated to grow with a forecast year. According to a 2015 survey, about 70 percent of current adult smokers in the United States wanted to quit, and although about 55 percent had attempted to do so in the past year, only 7 percent were successful in quitting for 6-12 months. Which implies a significant growth in global nicotine pouches market. Second lead is Europe, by launching of new innovative products with fewer side effect. All these factors contribute towards the overall growth of global nicotine pouches market with CAGR OF 82.8% by next five years.
Key player’s profiles in the global market include:
- Swedish Match
- Chill of Sweden, Inc.
- The Art Factory AB
- Triumph Pouches
- JTI Sweden
Market players have witnessed the strategic collaboration and acquisition to expand product
portfolio and strengthen their position in the market to enhance the revenue of the company.
- In June 2020: The Food and Drug Administration (FDA) will review nicotine pouches from Altria’s joint venture Helix Innovations Inc. The FDA accepted and filed for substantive review premarket tobacco Distribution Channel (PMTAs) for 35 On products, according to the Richmond, Va.-based company.
Global Nicotine Pouches Market Report Description:
Global nicotine pouches market report gives comprehensive outlook on nicotine pouches market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global nicotine pouches market gives historical, current, and future market sizes on the basis of product type, application and region. This report studies global nicotine pouches market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global nicotine pouches market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global nicotine pouches market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global nicotine pouches market
Key Findings of the Report:
- Global nicotine pouches market expanding at significant CAGR over 2020 to 2026 owing due to increase in the rate of people who wants to quit smoking
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product type
- By Coffee Flavors
- Mint Flavors
- Fruit Flavors
- Other Flavors
By Distribution Channel
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA