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Global Chewing Gum Market: Industry Analysis And Forecast
Global Chewing Gum Market was valued at US$ 16.75 Bn in 2019, and is expected to reach US$ 19.642 Bn by 2027 at a CAGR of 2.01% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
The report also helps in understanding chewing gum market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in chewing gum market.
Innovation in product with sugar-free variants and growing consumer concern for oral health drives the chewing gum market. While consumers shifting to mints, owing to health concern and government campaign against chewing gum restrains the market growth. Consumer awareness through packaging that demonstrates product information is the future opportunity of the chewing gum market. Chewing gums exhibit various stress relieving properties. Moreover, impulse purchasing and the inclination of consumers towards products which offer dental benefits are also contributing to an augmented demand for chewing gums.
Sugar-free chewing gum growth is boosting while sugared chewing gum has observed a decline in consumption. Sugar-free chewing gum is still a promising category in the majority of the countries, hence growing at a much faster rate. Rising concern regarding tooth decay, due to sugar content, has forced manufacturers to launch a sugar-free range of products to boost sale. Increasing demand for single-pack size and product innovation in the unique format are potential chewing gum market opportunities driving the sale. Chewing gum consumption pattern is primarily driven by impulse purchasing, which offers an opportunity for product packaging. Also, increasing health consciousness among people is expected to increase the demand for sugar-free chewing gum in the region.
Europe to remain dominant in chewing gum market, with the United Kingdom and Italy being the significant markets. Consumption of chewing gum is growing at a stable rate driven by increased demand for on-the-go mouth freshness products with active ingredients, such as stevia, xylitol, and mint. China and India is forecasted to exhibit a healthy growth rate, globally. Asia-Pacific has a significant youth population, globally, in the age group of 18-24 years, which drives the sale of gums.
Scope of Global Chewing Gum Market
Global Chewing Gum Market, by Product:
• Sugar-free Gum
• Sugared Gum
Global Chewing Gum Market, by Distribution Channel:
• Convenience Stores
• Specialist Retailers
• Supermarkets and Hypermarkets
• Variety Stores
• Online Retail
• Department Stores
Global Chewing Gum Market, by Region:
• North America
• South America
• Asia Pacific
• Middle East & Africa
Key Player analyzed in the Report:
• Hershey Company
• Mars Incorporated
• Ferrero International SA
• Perfetti Van Melle
• Mondelz International, Inc.
• Lotte Group
• Tootsie Roll Industries
• Wm. Wrigley Jr.Company
• Ferndale Confectionery Pty Ltd
• Kraft FoodsInc.
• Arcor Group
• Cloetta AB
• Ferndale Confectionery Pty Ltd.
• Haribo GmbH & Co. Kg
• Lotte Confectionery
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