NRT Smoking Cessation Aids in South Korea - New Market Report

From: Fast Market Research, Inc.
Published: Sun Jul 26 2015

In September 2014, the Korean government that it would increase tobacco prices by 80% in January 2015 in order to decrease the country’s high smoking rate among adult males. In addition starting in January, tobacco adverts will be banned in convenience stores and pictorial health warnings will be printed on the side of tobacco packs. After the increase, Korea’s tobacco tax will represent 73.7% of the retail price according to the Director of Health Promotion Division of the Health Ministry. The announcement faced opposition from many politicians arguing that the price increases were indirect ways of increasing taxes. As the announcement and the price increase rate was surprisingly high, smokers were preparing to quit smoking before the price increases in January 2015. The value sales of NRT smoking cessation aids therefore had strong growth.

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Competitive Landscape

Johnson & Johnson Korea Co Ltd was the leading player with a 56% value share in 2014. The company had a 96% value share of NRT gum. Its Nicorette brand was third with a 24% value share in NRT patches.

Industry Prospects

NRT smoking cessation aids is expected to have a CAGR of 1% at constant 2014 prices over the forecast period. In 2015, surprisingly steep tax price increase on tobacco will be implemented and this will make more people stop smoking. Smoking rate is expected to decline during the forecast period and this will allow NRT smoking cessation aids to grow as more consumers are very concerned about their health.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the NRT Smoking Cessation Aids industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the NRT Smoking Cessation Aids industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The NRT Smoking Cessation Aids in South Korea market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Production, imports by origin, exports by destination
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of NRT Smoking Cessation Aids in South Korea?
* What are the major brands in South Korea?

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