In the face of steadily surging demand in recent years, the Europe pure nicotine market is projected to reach the valuation of 5.521 Kilo tons by 2022, says Market Research Future (MRFR). The market can expect to obtain massive revenues at a CAGR of 5.83% during the forecast period (2017-2022).
The Pure Nicotine Market covers the countries of Italy, Bulgaria, Poland, and Germany among others. The others section of the region accounts for the largest share, responsible for over 50% as estimated in 2017. It also reached the market volume of 2.063 kilo tons and expects to rise at a growth rate of 5.38% during the conjectured time frame. Poland and Germany are presumed to expand at a moderate rate, with the product demand rising at a significant pace.
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Market Drivers and Key Restraints
Pure nicotine refers to a colorless liquid that has a unique acrimonious odor. The colorless liquid turns brown which smells like tobacco when it is exposed to air. It is considered the freshest and the purest nicotine that is found in the market and is derived from the pesticide-free tobacco leaves. Pure nicotine is naturally sourced, extracted, filtrated, distilled and separated which results in the truest and the cleanest nicotine produce.
Mounting demand for nicotine replacement therapy (NRT) products will accelerate the demand for pure nicotine in the upcoming years. Surge in demand across numerous applications such as smoking cessation products, e-liquid, bio pesticides along with various other industrial purposes is expected to favor the Europe pure nicotine market.
The Europe pure nicotine market has been segmented on the basis of type and application.
With context to type, the market is considered for liquid and powder.
Application-wise, the market caters to e-liquid, smoking cessation products, pharmaceuticals, bio-pesticides and others.
Among the applications, e-liquid covers the biggest share of the market, accounting for over 50% share in 2017 and can expect to achieve the highest CAGR of 5.85% in the ensuing years. Smoking cessation products come second in the market with the share of over 25% and expected CAGR of 5.8% during the corresponding period. With latest innovations in pure nicotine products coupled with process chief objectives like reducing cigarette consumption by offering numerous product forms, packaging styles and flavors stimulates market growth.
In Europe, various players are striving to enter the pure nicotine market, wherein a trend of volume-driven expansion can be noted within the market. This is accompanied by the introduction of different types of products that help elevate the demand in the region. With companies making efforts to accumulate a substantial share of the market as quickly as possible, they compete and experiment with numerous advantage points to do so. Partnerships and acquisitions with smaller vendors in the region are few of the critical strategic moves these established players make. The most prominent long-term opportunities for the market can be obtained by ensuring current process improvements as well as financial flexibility for investment in optimal strategies.
Some of these well-established vendors in the Europe pure nicotine market include Purenic (BGP Europe AG) (Basel), Chemnovatic (Poland), Contraf Nicotex Tobacco GmbH (Germany), Nicobrand Limited (Ireland), and others.
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