Market Research Future (MRFR) has published a cooked research report on the “Global Chewing Gum Market” that contains information from 2018 to 2032. The chewing gum market is estimated to register a CAGR of 4.70% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global chewing gum market— Perfetti Van Melle Group B.V., Mars, Incorporated, Lotte Corporation, Ferndale Confectionery Pty Ltd, The Kraft Heinz Company, Mondelez International, Inc., Haribo GmbH & Co. KG, The Hershey Trust Company, Zed Candy B.V., and Gumlink Confectionery Company A/S.
The global chewing gum market is accounted to register a CAGR of 4.70% during the forecast period and is estimated to reach USD 25.39 Billion by 2032.
The chewing gum market continues to expand as consumers seek convenient and refreshing options for oral care and breath freshening. The market is witnessing innovations in flavors, packaging, and sugar-free alternatives to cater to changing consumer preferences. Growing awareness of dental health and the popularity of on-the-go lifestyles contribute to the market's growth.
Access full report @ https://www.marketresearchfuture.com/reports/chewing-gum-market-11819
The global chewing gum market has been segmented based type and distribution channel.
On the basis of type, the market is segmented into sugared chewing gum and sugar-free chewing gum. Sugared chewing gum segment accounted for the largest revenue share in 2022. Gum is a recreational food that is only ever chewed out of a natural impulse to masticate.
Based on distribution channel, the global chewing gum market has been segmented into distribution channel, includes supermarkets/hypermarkets, convenience stores, specialty stores, and online retail. Convenience stores segment dominated the global chewing gum market in 2022. Because the majority of chewing gums are under USD 20, they are thought to be ideal for checkout and point-of-purchase impulse purchases.
The global chewing gum market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Chewing Gum Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Chewing Gum Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Chewing Gum Market comprises of Middle East, Africa, and Latin America.
The North America chewing gum market dominated this market in 2022 (45.80%). To capitalise on the market expansion boom, producers of chewing gum with a purpose have been taking a number of calculated steps in the sector. For instance, in September 2019, Hemptown USA unveiled a chewing gum with 15 milligrammes of cannabidiol and 5 grammes of cannabigerol. These drugs are readily absorbed by the body after consumption, leading to instant relaxation. These gums taste like mint. To maintain freshness and give a practical manner of dispensing, they are packed in foils.
Moreover, in 2022, the Europe chewing gum market had a sizable portion of the overall market. The industry is growing in Europe as a result of customers purchasing more products that offer practical benefits, such as dental benefits, and as their inclination for making impulsive purchases increases.
Additionally, from 2023 to 2032, the Asia Pacific chewing gum industry is anticipated to increase significantly. Similar circumstances may be seen in Asia Pacific, where companies have worked hard to earn their customers' loyalty. Tauriga Sciences, Inc., which has been manufacturing a variety of beneficial "supplement" chewing gums, gained HALAL certification for its primary brand, Tauri-Gum, under the supervision of Etimad Halal Certification in August 2020. South East Asia has a substantial market for HALAL products, which is expected to give the Asia Pacific brand a strong base.
Furthermore, the rest of the world's chewing gum market is divided into the Middle East, Africa, and Latin America. The Latin America chewing gum market is witnessing significant growth, driven by the rising disposable income and changing consumer preferences. The demand for sugar-free and functional gums is increasing, fueled by the growing health awareness among consumers. Key players are launching innovative flavors and packaging to attract a wider customer base and gain a competitive edge.
Key Findings of the Study