Global Synthetic Nicotine Market Anticipated to Reach US$ 2,984.9 Million by 2028

According to a recent market study published by Growth Market Reports, titled, “Global Synthetic Nicotine Market by purity, by application, by distribution channels, and by Region: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 562.7 Million in 2020 and is expected to grow at a growth rate of 23.4% by the year 2028.

Synthetic nicotine, also known as "tobacco-free nicotine," is a man-made chemical form of nicotine that is not derived from tobacco. Synthetic nicotine was created in a laboratory rather than from tobacco leaves. Synthetic nicotine has a significant advantage over tobacco-derived nicotine in that it contains no impurities and are scaled without the use of farms, crops, or extraction processes. Synthetic nicotine has the potential to pave the way for the future, at least for small vapor-breathing companies in the vapor-breathing market.

The Global Synthetic Nicotine market has been fragmented based on purity, application, distribution channels, and region. In terms of purity, the Global Synthetic Nicotine market is categorized as >99.5% purity, >99% purity. In terms of application, the market is separated as e-cigarettes, drugs, and others. In terms of distribution channels, the market is categorized as Online and Offline. Considering regions, the market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.

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The COVID-19 outbreak had impacted supply chain, marketing, production unit globally. Travel restrictions and quarantines affect millions of people, leaving factories around the world without work and raw materials. This hampered the fair-time supply chain and had an impact on global synthetic nicotine sales. Reduced raw material demand impacted countries and higher commodity prices, causing producers to cut output. Key cigarette volumes in global markets are expected to be slightly lower than in 2020.

Due to the frequent hand-to-mouth contact, use in social settings, or sharing with others, vaping products are expected to increase the risk of COVID-19 infection. However, with the increasing use of synthetic nicotine in E-cigarettes, drugs, and other applications, many key players such as NGL, NIIN, and CRT are investing capital in the production of synthetic nicotine products. Market participants such as NIIN and NGL are entering the synthetic nicotine market to combat smoking addiction and address these issues, which is expected to boost the synthetic nicotine market globally. As a result of post-COVID-19 recovery measures implemented by governments around the world, the global synthetic nicotine market is expected to recover slowly.

As per growth market reports industry analyst Rajas Shirwalkar, “The expanding consumer market, Healthcare, and Pharmaceutical are expected to contribute to the growth of the Global Synthetic Nicotine Market. Some of the factors that have aided the growth of the supply chain in advanced economies include the presence of key suppliers and distributors, the availability of raw materials, and the adoption of technology.

Key Takeaways from the Study

• The players including the synthetic nicotine market include Next Generation Labs LLC, Chemnovatic, Hangsen International Group Ltd., Zanoprima Lifesciences, Nudenicotine, Hubei Heno Biological Engineering Co., Ltd., and NIIN LLC hold a major market share of the synthetic nicotine market in the year 2020.
• The FDA currently does not regulate synthetic nicotine. The FDA has made only a few public statements about synthetic nicotine, such as synthetic nicotine being approved for smoking cessation. During the forecast period, this is expected to increase demand for synthetic nicotine products. Due to increased use of synthetic nicotine in e-cigarettes, vaping, and nicotine replacement therapy drugs, which is expected to boost the market during the forecast period.
• In terms of purity, the market is segmented into >99.5% purity and >99% purity. In 2020, the >99.5% purity segment had a significant market share and is expected to grow with a substantial CAGR over the forecast period, due to it being of the highest quality.
• Based on applications, the market has split the Global Synthetic Nicotine market is fragmented into e-cigarettes, drugs, and others. The e-cigarettes segment is expected to grow rapidly over the forecast period due to the increased prevalence of the teen population for e-cigarette segments.
• In terms of regions, the Global Synthetic Nicotine markets are divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America had a significant share of the global market in 2020, due to increased supply chain advancement and the rising prevalence of smoking addiction in the region are expected to drive the synthetic nicotine market over the forecast period.

Report Scope

Target Audience

• Supply-side: Manufacturer and distributors
• Demand Side: Chemical, Healthcare, Pharmaceutical, Consumer Retail, and Others.
• Regulatory Side: Concerned government authorities, and other approval regulatory bodies.
• Associations and Industry Bodies: World Health Organization (WHO), Food Drug Administration (FDA), United States Federal Food, Drug, and Cosmetic Act (FDCA), United States Pharmacopeia & European Pharmacopoeia (USP AND EP), European Union (EU), China National Accreditation Service (CNAS), Tobacco Products Directive Rule (TDP), and others.