Global Chewing Gum Market Overview:
Chewing gum is a soft, flavored, and sweetened rubber material used for chewing without swallowing. It helps to improve memory, to reduce stress, to manage weight, and improve digestion. Chewing gums holds their quality for a long period of time without losing their properties. So in most countries, there is no law for these gums to be sold without an expiry date. The global market for chewing gums is approximately 560,000 tons per year with a value of USD 5 billion. Excessive use of chewing gums leads to problems like headaches, jaw pains, and diarrhea. The increasing demand for sugar-free chewing gums leads to the growing demand for chewing gums.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Trends for Nicotine Chewing Gums
Market Growth Drivers:
Increasing Use of Chewing Gums as Tooth-Friendly Product and Demand for Flavoured Chewing Gums
Challenges:
Availability of a Large Number of Local Manufactures
Restraints:
Problems in Digestion of Chewing Gums
Opportunities:
Rising Demand for Sugar-Free Chewing Gums and Use of Medicated Chewing Gums Is Increasing
Competitive Landscape:
Chewing gum manufacturers can focus on developing new and exciting flavors to attract consumers. Continuous innovation in flavor profiles, such as unique combinations or trending flavors, can help capture consumer interest. Apart from this, players explore new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are The Wm. Wrigley Jr. Company (United States), Mondelez International, Inc. (United States), Lotte Corporation (South Korea), Perfetti Van Melle Group B.V. (Italy), The Hershey Company (United States), GelStat Corporation. (United States), The Ferrara Candy Company (United States), Chocoladefabriken Lindt & Sprüngli AG (Switzerland), Swedish Fish (Sweden), Ferndale Confectionery Pty Ltd (Australia), Haribo GmbH & Co. Kg (Germany) and Perfetti Van Melle Group B.V. (Italy). Additionally, following companies can also be profiled that are part of our coverage like ZED Candy (The Netherlands), Simply Gum Inc. (United States) and Cadbury Trebor Bassett (United Kingdom). Analyst at AMA Research see United States and Europe Vendors to retain maximum share of Global Chewing Gum market by 2028. Considering Market by Form, the sub-segment i.e. Tablets will boost the Chewing Gum market. Considering Market by Distribution Channel, the sub-segment i.e. Supermarkets & Hypermarkets will boost the Chewing Gum market. Considering Market by Flavours, the sub-segment i.e. Mint will boost the Chewing Gum market.
Latest Market Insights:
In 2018, The Ferrara Candy Company acquired Nestlé's U.S. confectionery business. This acquisition included popular brands like Butterfinger, Baby Ruth, Crunch, and Laffy Taffy, among others. The acquisition expanded Ferrara's product portfolio and market presence.
In August 2019, Center Fresh, a chewing gum brand launched Center Fresh 3 Layer gum. This chewing gum is made in peppermint and strawberry flavors. Also, this product is available in sugar-free variants.
In the European Union (EU), the European Commission and the European Food Safety Authority (EFSA) play key roles in setting regulations and standards for chewing gum. The EFSA evaluates the safety of food ingredients, including those used in chewing gum, and provides scientific opinions to inform regulatory decisions.
What Can be Explored with the Chewing Gum Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Chewing Gum Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Chewing Gum
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Chewing Gum market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Chewing Gum market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Chewing gum manufactures, Distributors and Suppliers, Regulatory Bodies, Potential Investors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.