Europe Pure Nicotine Market Outlook
Increase in demand for the Pure Nicotine replacement therapy (NRT) products is influencing the growth of Pure Nicotine market. Market Research Future, a firm which specializes in market reports related to the Food, Beverages Nutrition sector among others, recently forecasted in its report on Europe Pure Nicotine Market Research Report- Forecast to 2030 that the market will demonstrate an exceptional CAGR of 6.10%% during the forecast period.
The Europe pure nicotine market share has witnessed continued demand during the last few years and is projected to reach 5.521 Kilo tons at a CAGR of 6.10 by 2030. Increase in demand for the nicotine replacement therapy (NRT) products will drive the higher demand for the pure nicotine in the coming years. Increase in demand across various applications including e-liquid, smoking cessation products, bio pesticides and other industrial purposes is driving higher demand for pure nicotine.
Pure nicotine is a colorless liquid with a characteristic acrimonious odour. It is a colorless liquid that turns brown and smells like tobacco when exposed to air. It is the purest and freshest nicotine solution available in the market that is derived from the finest, pesticide-free tobacco leaves. It is naturally sourced, filtrated, extracted, separated and distilled to amass a true and clean nicotine produce.
Europe pure nicotine market, Research based on application, is segmented into e-liquid, smoking cessation products, pharmaceuticals, bio-pesticide, and others E-liquid dominated and having more than 50% market share in the year 2022 and is projected to grow at the highest CAGR at 6.10% during the forecast period followed by smoking cessation products with market share more than 25% and growing at CAGR of 6.10% for the corresponding period. The innovations in pure nicotine products and process prime objectives include achieving reductions in cigarette consumption by providing various product forms, flavors, and packaging styles is supporting the market growth.
Competitive Analysis:
With the entry of industry players in the Europe Pure Nicotine market trends segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. Acquisitions and partnership with small companies are other strategic movements made by the key players. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The key Europe Pure Nicotine Market Report profiled in are as Chemnovatic (Poland), Contraf Nicotex Tobacco GmbH (Germany), Nicobrand Limited (Ireland), Purenic (BGP Europe AG) (Basel)
Europe Pure Nicotine Market – Segments:
The Europe Pure Nicotine market has been divided into type, application, and country.
Based on Type: Liquid and Powder
Based on Application: e-liquid, smoking cessation products, pharmaceuticals, bio-pesticides, and others
Based on Country: Bulgaria, Italy, Germany, Poland, and Rest of Europe
Europe Pure Nicotine Market - Regional Analysis:
The Europe Pure Nicotine market is segmented into Bulgaria, Italy, Germany, Poland and Rest of Europe. Rest of the Europe part accounted for the largest market share which is more than of 50% in 2017, with a market volume of 2.063 kilo tons and is projected to grow at a CAGR of 5.38% during the estimated period. Germany and Poland are anticipated to grow at a moderate rate in pure nicotine market in Europe.
Latest Industry Updates:
Dec 2022 Biohit Oyj and R-kioski Oy have signed an agreement for the distribution of the smoking cessation product, Acetium lozenge in Finland. The contract is a non-exclusive distribution agreement. The new Acetium lozenge is an effective and safe product that helps quit smoking without nicotine
Nov 2022 The Food and Drug Administration is taking new steps to encourage the development of innovative nicotine-replacement therapies to wean smokers off conventional cigarettes
March 2022 MOLIQ launched 20 delicious liquids available in 10ml plastic bottles and five nicotine strengths including 0mg, 6mg, 9mg, 12mg and 18mg.
Nov 2022 Chemnovatic launched new website where one can find all VAPY and VAPY Complex flavors as well as Nic Shot nicotine shots.
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