Nicotine Gum Market Share, Trends, Growth, Size, Competitive Analysis and Forecast Report by 2029

The global nicotine gum market size was valued at USD 1.49 billion in 2021 and reached USD 1.56 billion in 2022. The market is expected to reach USD 2.17 billion by 2029, exhibiting a CAGR of 4.8% during the forecast period. Rising health awareness and prevalence of illnesses are expected to enhance the market growth. Fortune Business Insights™ presents this information in its report titled “Nicotine Gum Market, 2022-2029.”

COVID-19 Pandemic

Manufacturing Restrictions to Impede Market Progress

This market is expected to be negatively affected during the COVID-19 pandemic due to the restrictions imposed on manufacturing. The sudden spike in COVID-19 infections restricted manufacturing activities globally, thereby disrupting the supply chain. Further, the restrictions on transport led to the lack of ingredients required for the production of the gum. However, the resumption of lockdown and the adoption of automated production techniques by manufacturers have facilitated this market's growth.

List of Key Players Profiled in the Nicotine Gum Market Report

GlaxoSmithKline plc (U.K.)
Johnson & Johnson (U.S.)
Novartis Consumer Health (Germany)
ITC Limited (India)
Cipla Health Limited (India)
Perrigo Company Plc (Ireland)
Fertin Pharma (Denmark)
Alchem International (India)
Revolymer (U.K.)
Driving Factors

Anti-Smoking Campaign Promotions to Facilitate Market Progress

Nicotine gum is a medicine that helps people quit smoking and is used every 2 hours to eliminate smoking cravings. Rising research and development and the promotion of the product by government and non-government firms are expected to enhance product demand. Further, manufacturers focus on promoting anti-smoking campaigns and launch novel products that counter smoking cravings, such as lozenges, gums, and others. Moreover, the rising smoking-related illnesses, such as lung cancers, are expected to enhance product demand. These factors may incite nicotine gum market growth.

However, the side effects of nicotine gum are expected to restrain the market growth during the upcoming years.

Regional Insights

Rising Number of Health Conscious Consumers to Propel Market Growth in North America

North America is expected to dominate the nicotine gum market share due to increasing health-conscious consumers. The market in North America stood at USD 650.47 in 2022 and is expected to gain huge market share in the upcoming years. Furthermore, major brands focus on launching innovative products to enhance their quality and boost brand image globally.

In Europe, the rising nicotine gum product sales in France, Italy, Germany, and the U.K. are expected to enhance the demand for nicotine gums. Furthermore, a strong focus on implementing strategies for quitting smoking is expected to enhance demand.

In Asia Pacific, strong demand for innovative products, is expected to enhance the demand for the product. Furthermore, the rising demand for innovative products and increasing competition between companies are expected to enhance the market growth.

Competitive Landscape

Major Players Launch Novel Products to Reinforce Brand Presence

The prominent companies operating in the market announce novel products to reinforce their brand image globally. For example, Nicorette announced a nicotine gum with ice mint lozenge in May 2019. This product offers a smooth texture and provides a punch of mint flavor. This launch may enable the company to attract consumers and enhance its brand presence globally. Furthermore, companies devise acquisitions, mergers, partnerships, and expansion strategies to enhance their market position.

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The global dietary supplements market size is anticipated to hit USD 128.64 billion by 2028 and exhibit a CAGR of 8.68% during the forecast period.

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Pasta Market Share, Demand, Revenue, Regional Insights and Forecast by 2030

The global pasta market size was USD 66.36 billion in 2022. The market is projected to grow from USD 68.35 billion in 2023 to USD 99.24 billion by 2030, exhibiting a CAGR of 5.47% during the forecast period 2023-2030.

Pasta is a largely consumed, easy-to-make, and an affordable food product. The increasing and regular evolution of pasta propels the pasta market growth during the forecast period. The rising demand for instant food products, such as pasta and Western food culture adoption, is driving the market growth during the forecast period.

Fortune Business Insights™ mentioned this in a report titled “Pasta Market, 2023-2030.”

Segments-

Rising Dried Products Consumption to Propel Segment Growth

By product type, the market is segmented into dried, chilled, and canned. The dried segment is expected to dominate the market during the forecast period. The segment's growth is attributed to increasing consumption of dried products globally. The shelf life of dried products is also more than chilled and canned products.

Rising Need for Wheat Products to Boost Segment Growth

Based on raw material, the market is classified into wheat and gluten-free. The wheat segment is estimated to dominate the market during the forecast period due to the increasing need for wheat products globally. The availability of products in different shapes and sizes also drives segment growth during the forecast period.

Growing Accessibility of Products to Drive Segment Growth for Supermarkets/Hypermarkets

By distribution channel, the market is divided into supermarkets/hypermarkets, convenience stores, online stores, and others. The supermarkets/hypermarkets will dominate the market during the forecast period owing to increasing availability and convenience of choosing the products from various options.

Geographically, the market is studied across North America, Europe, Asia Pacific, South America, the Middle East & Africa.

Drivers & Restraints-

Rising Consumer Interest toward Western Cuisine to Propel Market Growth

The pasta market is estimated to grow during the forecast period due to consumers' rising interest in Western cuisine in Asian countries. The rapid increase in cooking various and artistic recipes will boost significant growth post-pandemic. During the pandemic, the rising consumption in countries, including France, Germany, the U.S., and Italy, propelled the market growth.

Regional Insights-

Growing Demand for Product to Boost Market Growth in Europe

Europe is estimated to hold the largest pasta market share during the forecast period. The growth is attributed to the increasing product demand in the region. Europe will also be the dominating region due to the launch of new varieties of gluten-free products in various shapes and forms.

Asia Pacific is expected to have the fastest growth rate during the forecast period due to the rising adoption of Western diets in the region.

Competitive Landscape-

Rising New Product Launches to Aid Market Growth

The market has several players, including Ebro Foods, S.A., Barilla G.e.R.F.lli S.p.A., and Campbell Soup Company. These major market players are adopting strategies to launch new products to maintain their market position. The companies are manufacturing products that are gluten-free to attract health-conscious consumers.

Notable Industry Development

September 2021 – Barilla, an Italy-based pasta producer, expands its gluten-free product line made from chickpea flour.
List of Key Players Present in the Report:

Barilla G. e R. F.lli S.p.A. (Italy)
Ebro Foods, S.A. (Spain)
CAMPBELL SOUP COMPANY (U.S.)
TreeHouse Foods, Inc. (U.S.)
Unilever (U.K.)
The Kraft Heinz Company (U.S.)
BORGES INTERNATIONAL GROUP (Spain)
Nestlé (Switzerland)
F.lli De Cecco di Filippo S.p.A (Italy)
Armanino Foods of Distinction (U.S.)
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Cheese Market Share, Trends, Growth, Size, Competitive Analysis and Forecast Report by 2030

The global cheese market size was valued at USD 183.79 billion in 2022. The market is projected to grow from USD 187.42 billion in 2023 to USD 256.99 billion by 2030, exhibiting a CAGR of 4.61% during the forecast period.

Cheese consumption is increasing due to its availability and versatility. Moreover, acceptance and adoption of ethnic cuisines such as Mexican and Italian subsequently used more cheese to drive market growth. The two most popular varieties of cheese are mozzarella and cheddar.

Drivers and Restraints:

Increasing Demand for Plant-based Cheese to Drive the Market Growth

Plant-based cheese is a dairy alternative primarily made from cashew, soy, almond, and others. The growing trend of veganism and rising preferences for plant-based food propel the demand for plant-based products. Hence, increasing veganism and launching more plant-based products will drive the cheese market growth during the projected period.

Many consumers are allergic to caesin, a protein in cheese. Caesin allergy causes acne, headaches, inflammation, and rashes. Hence, health risks and issues associated with caesin are predicted to hinder the market growth.

Regional Insights:

Increasing Investments and Partnerships to Propel Market Growth in Europe

European consumers adopt healthy foods to maintain well-being and physical health with useful traits such as organic and non-GMO retail positioning, positively impacting the region’s cheese industry.

In North America, the demand for nutritious food products and convenience encourages market growth. North America is one of the major markets, mostly driven by the millennials constantly changing desert and snack consumption habits.

Competitive Landscape:

Launching of New Products by Key Players to Stay Competitive in the Market

Key industry players adopt various competitive strategies, such as new product launches, to support market players in creating various business opportunities through diversified product reach with a wide range of distribution channels in the market.

Key Industry Development:

September 2021: Lactalis Canada introduced two direct-to-consumer platforms, DairyMarketCulinary.ca. and Cheeseworld.ca for cheese and dairy.
List of Key Players Mentioned in the Report:

The Kraft Heinz Company (U.S.)
Fonterra Co-operative Group Limited (New Zealand)
Arla Foods amba (Arla Foods Group) (Germany)
FrieslandCampina (Netherlands)
Saputo Inc. (Canada)
Lactalis Ingredients (France)
Wensleydale Creamery (U.K.)
Dairy Farmers of America, Inc. (U.S.)
SAVENCIA SA (France)
Norseland Ltd (Tine Group) (U.K.)
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Nutraceuticals Market Demand, Size, Share, Scope, Revenue, Key Regions and Forecast by 2023-2028

The global nutraceuticals market is expected to gain momentum by reaching USD 658.11 billion by 2028 while exhibiting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Nutraceuticals Market, 2021-2028.”, mentions that the market stood at USD 320.00 billion in 2020. Factors such as the increasing personalization in nutritional diet and the increasing investment in R&D activities are expected to propel the demand for the product in the forthcoming years.

DRIVING FACTORS

Increasing Investment in Product Development to Favor Growth

In January 2020, Archer Daniels Midland Company announced the acquisition of Yerbalatina Phytoactives, a leading manufacturer of natural plant-based extracts and ingredients. The company with its investment aims to strengthen its position in the market. Similarly, several companies are focusing on investing in R&D activities to develop and introduce health-benefiting food products to cater to the growing demand for nutritious products worldwide. Moreover, the development of natural food products devoid of any harmful substances will boost the global nutraceuticals market growth in the forthcoming years.

REGIONAL INSIGHTS

Asia-Pacific to Remain at Forefront; Demand for Functional Foods to Increase in North America

Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the market during the forecast period. The dominance is attributable to the presence of a large population and the improving living standards in countries such as India, Japan, and South Korea, among others that will boost the demand for nutraceuticals in the region. Moreover, the region stood at USD 124.70 billion in 2020.

The market in North America is expected to hold the second position in the market backed by the increasing demand for plant-based nutritional products and the growing demand for functional food in countries such as the U.S. between 2021 and 2028.

Market Segmentation:

Based on product type, the market is trifurcated into dietary supplements, functional foods, and functional beverages.

On the basis of product type, the dietary supplements segment held a global nutraceuticals market share of about 19.12% in terms of revenue in 2020 and is likely to experience considerable growth. This is due to several companies focusing on expanding their dietary supplement production facilities to cater to the growing consumer demand.

Based on the distribution channel, the market is categorized into hypermarkets/supermarkets, convenience stores, online retail, and others. Lastly, on the basis of region, the market is segregated into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.

COMPETITIVE LANDSCAPE:

Merger and Acquisition between Major Companies to Brighten their Market Prospects

The global market comprises small, medium, and large companies that are striving to maintain a stronghold. The large companies are focusing to expand their nutraceuticals portfolio by acquiring other small companies. Moreover, other key players are adopting strategies such as facility expansion, partnership, and collaboration to gain a competitive edge over their rivals that will favor the market growth in the forthcoming years.

Key Industry Development:

September 2020 - Nuliv Science introduced a new compound, Senactiv that helps to promote muscle energy and regeneration. The company further reports that the new sports product is manufactured taking into consideration the surging demand for dietary supplements among consumers.

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