Chewing Gum Market Overview 2022-2027:
A new research report by IMARC Group, titled “Chewing Gum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on chewing gum market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global chewing gum market reached a value of US$ 25.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30.9 Billion by 2027, exhibiting a CAGR of 3% during 2022-2027.
Chewing gums are soft and cohesive substances that are water-insoluble and non-digestible in nature. Earlier, they were produced from various tree saps, such as from the latex sap of sapodilla trees. Presently, chewing gums are made with different sweeteners, flavors, gum bases, softeners, colors, etc. The texture of chewing gums is similar to rubber owing to the physical-chemical properties of their resin, plasticizer, and polymer components, which also give these substances their sticky, elastic-plastic, and chewy properties.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The shifting inclination of consumers towards chewing gums that offer dental benefits is among the primary factors driving the chewing gum market. Moreover, the growing popularity of these products as a stress-relieving mechanism is further propelling the market growth. Apart from this, the elevating demand for nicotine gums, which are used by smokers to quit tobacco, is also augmenting the global market. In line with this, the sudden outbreak of the COVID-19 pandemic is leading to increasing levels of awareness among individuals about the harmful effects of smoking, since smokers are more susceptible to the infection. This is catalyzing the demand for nicotine gums. Furthermore, the product manufacturers are adopting numerous marketing strategies aimed at younger generations, including the introduction of new flavors, shapes, sizes, attractive packaging, etc. This is expected to fuel the chewing gum market across the globe in the coming years.
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/chewing-gum-market
Competitive Landscape:
The market is fragmented with the presence of both small and large manufacturers who compete in terms of prices and quality. There is an intense competition in the market which makes it difficult for small players to survive. Some of the leading players operating in the market are:
- Mondelez
- Perfetti
- Wrigley
- Lotte, Cloetta
- Hershey
Chewing Gum Market Segmentation:
Our report has categorized the market based on region, sugar type, product type and distribution channel.
Market Breakup by Sugar Type:
- Sugar Free Chewing Gums
- Sugared Chewing Gums
Market Breakup by Product Type:
- Pellet
- Stick/Tab
- Centre-filled
- Cut and Wrap
- Ball
- Others
Market Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Pharmacies
- Convenience Stores
- Departmental Stores
- Online
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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