Tobacco Alternative Gums Market research report delivers erudite market data on the market drivers, present as well as upcoming growth opportunities, segment wise and region wise challenges faced by Tobacco Alternative Gums market, competitive scenario in the global market. Tobacco Alternative Gums Market analyst segments the market to help the buyer to understand the present as well as future market size, situations in terms of growth rate and revenue.
Tobacco Alternative Gums market report will be mainly useful for the research Institutes, manufactures, potential investors, key executive (CEO and COO) and strategy growth manager.
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The report splits global Tobacco Alternative Gums market into Americas, APAC, Europe, MEA regions. The Tobacco Alternative Gums Market report provides detailed analysis of the key players in the market which provides company overview, financial overview, service offering, different strategies used by them, and comprehensive SWOT analysis of
- Johnson & Johnson
- Reynolds American Incorporated
- Alkalon and many more
- Johnson & Johnson
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The worldwide and regional Tobacco Alternative Gums market elements are precisely explained which helps to understand advancing of business trends, drivers, opportunities, and difficulties for the worldwide Tobacco Alternative Gums market.
Tobacco Alternative Gums Market driver
One of the important growth factors for the global tobacco alternative gums market is the increasing price of cigarettes. As a result, the average consumer cannot buy cigarettes on a regular basis. As the price of cigarettes increases, the consumers will resort to other products and this will increase the demand for tobacco alternative gums such as nicotine gums. The price of tobacco has increased by about more than 300% globally over the past 20 years. Many countries are increasing the excise duties on cigarettes, which is increasing the price of cigarettes. In January 2016, Indonesia increased the excise duty on cigarette by about 11% and in February 2016, Thailand increased the excise tax on imported cigarettes from 87% to 90%. In 2016, India increased the tobacco taxes for the fifth consecutive year and the increase in 2016 was in the range of about 10%-15%. The countries in the Middle East are also contemplating the increase of cigarette price and tobacco tax. For instance, Saudi Arabia is planning to increase the excise duty on tobacco to 200% and is also planning to increase the cigarette price by about 11%.
Tobacco Alternative Gums Market challenge
combination therapy involves using two types of NRT products at the same time. It involves the use of a long-acting nicotine formulation such as nicotine patches in combination with a short-acting formulation such as gum, lozenge, and inhaler. These nicotine replacement products include patches, gums, and lozenges. Many studies have been performed to test whether a combination of NRTs is better than using a single product. This trend is expected to continue and will contribute revenue to the global tobacco alternative gums market during the forecast period.
Tobacco Alternative Gums Market trend
The introduction of new flavors in tobacco alternative gums is one of the trends that will influence the growth of the market during the forecast period. The players in the market are coming up with new flavors to cater to the demands of the consumer. The popular flavors are peppermint, lime, and cinnamon. The famous Nicorette brand of GlaxoSmithKline is available in flavors such as fruit chill, white ice mint, and fresh mint. The Kwiknic nicotine gum from ITC is available in two flavors, mint and paan, in India. Nicotex nicotine gum produced by Cipla is available in three flavors: cinnamon, mint plus, and paan. The Zonnic nicotine gum comes in three flavors: mint, fruit, and cinnamon
The Porter’s five forces analysis included in the report educates buyer on the current situations along with anticipated future Tobacco Alternative Gums market size.
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The CAGR of each segment in Tobacco Alternative Gums market along with global market (as whole) is explained with great ease. Also, global and regional Tobacco Alternative Gums market supply chain analysis provides vital info about producers, distributers and key end-users in the market. It also explains import-export situations, affecting factors etc. to fully and deeply reveal market situations.