The Global Market for Gums is Projected to Exceed US$25 Billion by 2022
Myriad Health Benefits and Growing Interest in
Functional Gums, Energy Gums, and Nutraceutical Gums to Drive Market Demand,
According to a New Report by Global
Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size, and
demand forecasts on the global Gums (Chewing Gum and Bubble Gum) market. The
global market for Gums is projected to exceed US$25 billion by 2022, driven
by the growing interest in functional gums, energy gums, and nutraceutical gums,
and the high levels of frequent gum chewing on a daily, weekly, and monthly
basis.
Gum chewing is an act of
enjoyment. Be it kids, Gen-X or the adult population, everyone enjoys gum
chewing. Typically consumed as a mouth freshener, gums are available in various
formats such as pellets and strips, and in various flavors. Edible gum is
generally classified under the impulsive purchase segment. Demand for chewing
gums is on a steady rise owing its stress releasing attributes and other
medical advantages. Myriad health benefits of gum that is driving its adoption over
the years include fighting ear infections; cavity fighting; breath freshening, in addition
to whitening and strengthening of teeth; improved brain power, aids recovery
from postoperative ileus; helps in quitting smoking; soothes an ulcer;
refreshing and moistening of throat and mouth; neutralization of plaque acid;
stimulation of saliva production, and preventing tooth decay, among others.
Besides, gums aid in digestion, eases tension, relieves sore throat and
improves concentration. The growing
awareness regarding the negative health effects of smoking and the resulting
need for quitting the habit continues to spur demand for nicotine gum.
Future growth in the
market will be driven by rising popularity of functional gums, energy gums, and
nutraceutical gums that are touted to boost energy, enhance immunity, increase
cognitive ability, provide antioxidants, promote stamina, encourage weight
loss, lower stress, and provide dietary supplements, among others. Other
important growth drivers include growing preference for products that are based
on natural gum, launch of innovative gum products in novel flavors and shapes,
and increasing impulse purchases. Gum innovations that are poised to benefit
market prospects in the near term include gums with bold flavors containing
vitamins such as B12, B6, and guarana for offering additional energy; 3D
printing of chewing gum in diverse flavors and shapes; cannabis-based chewing
gum for potential treatment of conditions that include multiple sclerosis, Crohn’s
disease and irritable bowel disease; biodegradable
chewing gums, and sensor-integrated chewing gum for fitness tracking.
Despite the positive outlook, the global gum market faces challenges on account
of rising concerns regarding the environment; the issue of disposal of
masticated gum; and the lack of availability of evidence of the effectiveness
of functional gums, among other concerns.
As stated by the new market research report on Gums
(Chewing Gum and Bubble Gum), Europe represents the largest market
worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.1%
over the analysis period. Growth in the region is led by China and India where
evolving consumerism, product innovation and aggressive promotions offer strong
opportunities for growth. Gum sales are nearing saturation point in developed
world. Other factors such as significant price increase owing to surge in price
of formulas and sweeteners used in gum production; significant reduction in
per-capita consumption owing to growing health conscious; and the shrinking
population of cigarette smokers are also contributing for the slowdown in sales
of chewing gums in the US and Western European countries.
Key players covered in the report include Arcor Group, Cloetta AB,
Ferndale Confectionery Pty Ltd., Haribo GmbH & Co. Kg, Lotte Confectionery,
Mars, Incorporated, The Wm. Wrigley Jr. Company, Meiji Holdings Company, Ltd.,
Mondelēz International, Inc., Peppersmith, Perfetti Van Melle, and The Hershey
Company, among others.
The research report titled “Gums
(Chewing Gum and Bubble Gum): A Global Strategic Business Report” announced
by Global Industry Analysts Inc., provides a comprehensive review of market
trends, issues, drivers, mergers, acquisitions and other strategic industry
activities of major companies worldwide. The report provides market estimates
and projections for all major geographic markets including the United States,
Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of
Europe), Asia-Pacific (Australia, China, Hong Kong, India, and Rest of
Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and
Rest of Latin America). Market segments analyzed include Chewing Gum and Bubble
Gum.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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