- The nicotine pouch market is projected to reach $21.84 billion in 2027, up from $2.33 billion in 2020, representing a CAGR of 30.7%
- The smokeless tobacco products sector is expected to post a CAGR of 7.2% over the forecast period (2018-2025)
- Lexaria, through its patented DehydraTECH technology, is tapping into this important alternative nicotine sector
- Its management is confident that its research and technology development investment will pay off and provide greater consumer satisfaction.
In 2019, it was estimated that at least 1.1 billion people globally smoked cigarettes regularly. 780 million, representing 71% of the global smoking population, noted that they wanted to quit. Their resolve to quit smoking has seen a significant decline in cigarette sales and a steady rise in nicotine alternatives, which experts project will carry on for the foreseeable future (https://cnw.fm/UyBtW).
For one, the nicotine pouch market has grown significantly and is estimated to reach $21.84 billion in 2027, up from $2.33 billion in 2020, representing a CAGR of 30.7%. The nicotine replacement therapy…
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