Industry Analysis
Chewing gum is made up of gum base, sweeteners, conditioners, flavours, and colours, as well as gum fixings. It is made up of three primary components: gum, wax, and elastomer. It comes in a variety of flavours and can be natural or synthetic. The most well-known chewing gum flavours are peppermint and spearmint. Chewing gum is good for cavity exercise. It is also used as a mouth refreshment agent. Data Bridge Market Research analyses that the chewing gum market was valued at USD 38.62 billion in 2021 and is expected to reach the value of USD 50.75 billion by 2029, at a CAGR of 5.30% during the forecast period. With the passage of time, there has been a significant shift from simple product groups to sugar-free products, allowing manufacturers to meet the changing needs of consumers and creating a plethora of opportunities in the market.
Chewing Gum Market research report has put forth a bench-marking example for a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East Africa (MEA). The chapter of the competitive landscape is presented well in the market research report and is analysed based on the tools such as Porter’s five forces analysis. The study throws light upon market attractiveness where all the segments are arranged based on the compound growth rate, size, and general attractiveness.
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Chewing Gum Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Rising purchasing power
Over the forecast period, market growth will be driven by rising purchasing power and consumer preference for products that provide dental benefits.
- Improved marketing strategies to attract the youth
Manufacturers are employing a variety of marketing strategies to pique the interest of the younger generation and increase demand for chewing gum with new flavours, shapes, and appealing packaging.
Opportunity
The rapid consumption of this chewing gum is one of the major trends observed in the global chewing gum market, owing to the growing population of young people in developing countries. Another factor that could drive target market growth in the coming years is the incorporation of additional health aids and ingredients into functional chewing gums rather than a refreshing-breathing function.
Restraints
However, fluctuations in pricing strategy, a lack of regulation, and the negative side effects of excessive chewing gum are factors that will stymie market growth during the forecast period.
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Industry Segmentation and Size
The chewing gum market is segmented on the basis of product type, distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Pallet type
- Stick/tab type
- Centre-filled type
- Cut and wrap type
- Ball type
- Others
Distribution channel
- Supermarket
- Hypermarket
- Convenience stores
- Pharmaceuticals
- Departmental stores
- Online
Market Country Level Analysis
- The countries covered in the chewing gum market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Industry Share Analysis
Some of the major players operating in the chewing gum market are:
- Cemoi Chocolatier (France)
- Republica del Cacao (Ecuador)
- Nestlé S.A. (Switzerland)
- Mars Incorporated (U.S.)
- Fuji Oil Holdings Inc. (Japan)
- Guittard Chocolate Co. (U.S.)
- Ghirardelli Chocolate Co. (U.S.)
- Varihona Inc. (France)
- Barry Callebaut AG (Switzerland)
- Alpezzi Chocolate SA De CV (Mexico)
- Kerry Group Plc (Ireland)
Chewing Gum Market Report Answers the Following Questions:
- What is the current size of the Chewing Gum Market?
- What are the key drivers and challenges for the Chewing Gum Market?
- What are the different types of Chewing Gum Market?
- What are the leading companies operating in the Chewing Gum Market?
- What is the future outlook for the Chewing Gum Market?
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