Beware of fake products in synthetic nicotine Market
Despite the apparent success of Synthetic Nicotine, Schumann insisted that “the use of traditional combustible tobacco products and tobacco derived nicotine reconstituted sheets may not be affected. The real progress in Synthetic Nicotine will be applied to new nicotine delivery systems such as atomization, heating non combustible tobacco products, nicotine bags, nicotine gum, transdermal patches and dry aerosols. ” Ron Tully, co-founder of NGL, pointed out that the Synthetic Nicotine market will continue to grow “in an unstable period when the company competes for customers and opportunities.” “A variety of ‘Synthetic Nicotine products will be launched specifically for the U.S. market in the coming months,” he predicted Tully added that these products need to be strictly verified to ensure that they are not “fake”. For example, tobacco derived nicotine is wrongly labeled and misled to be sold according to “Synthetic Nicotine.
At the same time, Vincent Schumann recalled, “consumer interest in Synthetic Nicotine initially focused on markets such as South Korea and the United States that seem to provide regulatory opportunities for the sale of products containing Synthetic Nicotine.” But he added that at the same time, manufacturers have recognized that more and more adult smokers are looking for ways to quit smoking, and Synthetic Nicotine may play an important role in achieving this goal.
People’s interest in Synthetic Nicotine has now “turned to technology application rather than simply exploring ‘whether this product solves the tax or regulatory problems in the market’,” Schumann said. “Therefore, NGL has shown an upward trend in business consulting in all major tobacco and nicotine markets.” The annual turnover of NGL Synthetic Nicotine products has increased at an almost amazing rate, which proves this “upward trend”. In 2018, the company increased by 15% compared with the previous year; In 2019, a year-on-year increase of 65%; In spite of the outbreak of COVID-19 in 2020, the company’s growth rate still reached 300%. Schumann expects the growth rate to reach an amazing 1800% in 2021.
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