About Mastic Gums
Mastic is used for conditions including stomach and intestinal ulcers, long-term swelling (inflammation) in the digestive tract (inflammatory bowel disease or IBD), infections, and wound healing, but there is no good scientific evidence to support these uses.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.6% |
The market for Mastic Gums is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Mastic Gums market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
LALILAB (United States), Mazaya’s Tobacco-Molasses (Jordan), Krinos Foods (United States), Chios Gum Mastic Growers Association L.L.C. (Greece) and Nutraceutical International Corporation (Solaray) (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Mastic Gums market by Type (Organic and Vegetarian) and Region.
On the basis of geography, the market of Mastic Gums has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Pharmaceutical will boost the Mastic Gums market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Capsules will boost the Mastic Gums market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Online Sales will boost the Mastic Gums market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase Investment Production Technology
Market Growth Drivers:
The Rise in Consumption of Chewing is a Major Factor is Growing the Demand of Mastic Gum and Increase in Potential in The Market of Emerging Countries is the Factor Fueling the Mastic Gum Demand
Challenges:
The Slowdown in Economy Because of COVID-19 Pandemic and The Rise in Concern Regarding its Side effects
Restraints:
Fluctuation in Raw Material Price
Opportunities:
Increased Application of Mastic Gum in Food, Pharmaceutical and Health Supplement is Expected to Witness Substantial Growth
Market Leaders and their expansionary development strategies
In January 2021, Meridian Foods launched mastic chewing gums under its brand name Livante. The gum contains 100% natural Chios mastic gum that helps strengthen teeth. Meridian Foods Limited is a private limited company based in the UK. It is involved in the non-specialized wholesale of food, beverages, and tobacco.
In September 2022, Naturevibe Botanicals launched organic mastic gum capsules made from wild harvested mastic gum resin. It helps strengthen teeth and gums. NatureVibe Botanicals was founded by Mr. Rishabh Chokhani. It uses natural herbs and ingredients to make products such as Brahmi leaf capsules, essential oils like clove oil, and superfoods that include Amla powder, Yacon root powder, and natural spices.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Mastic Gums Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.