Chewing Gum Market Report, Top Companies Analysis, Growth Factors and Forecast 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 gum or bubble gum is a sweetened and flavored insoluble gum. It is made of gum base, sweetener, glycerin, plasticizer, flavors, colors, and polyol coating. It possesses different chemical and physical properties that impact the chewiness, stickiness, bubble-blowing capability, flavor release, and cooling sensation of the product. Chewing gum offers several health benefits, such as improving cognitive functioning, reducing cavities, and treating gastroesophageal reflux disease (GERD).
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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.
The global market is majorly driven by the easy availability of the product through various distribution channels, such as convenience stores, general stores, online retail, supermarkets, and hypermarkets. Apart from this, due to the rising number of smokers across the globe, the need for nicotine gum for quitting smoking has also increased, thereby favorably impacting the product uptake. Furthermore, the growing health consciousness among the masses has boosted the demand for sugar-free chewing gums, thus driving the market growth across the globe. Moreover, several manufacturers are launching product variants with new flavors and natural ingredients, thus creating a positive outlook for the market.
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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:
- Lotte, Cloetta
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:
- Cut and Wrap
Market Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Departmental Stores
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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