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 2022 that the market will demonstrate an exceptional CAGR of 5.83% during the forecast period.
Pure nicotine is a colorless liquid with a characteristic acrimonious odor. 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.
The Europe pure nicotine market has witnessed continued demand during the last few years and is projected to reach 5.521 Kilo tons at a CAGR of 5.83% by 2022. 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.
Europe pure nicotine market, 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 2017 and is projected to grow at the highest CAGR at 5.85% during the forecast period followed by smoking cessation products with market share more than 25% and growing at CAGR of 5.8% 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.
Europe Pure Nicotine Market – Competitive Analysis:
With the entry of industry players in the Pure Nicotine 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 players profiled in Pure Nicotine are as
- Chemnovatic (Poland)
- Contraf Nicotex Tobacco GmbH (Germany)
- Nicobrand Limited (Ireland)
- Purenic (BGP Europe AG) (Basel)
The Europe Pure Nicotine market has been divided into type, application, and country.
On The Basis of Type: Liquid and Powder
On The Basis of Application: e-liquid, smoking cessation products, pharmaceuticals, bio-pesticides and others
On The Basis of Country: Bulgaria, Italy, Germany, Poland and Rest of Europe
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 2017 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 2017 The Food and Drug Administration is taking new steps to encourage the development of innovative nicotine-replacement therapies to wean smokers off conventional cigarettes.