Global Functional Chewing Gum Market 2017-2021
About Functional Chewing Gum
Functional chewing gums are chewing gums that provide additional benefits apart from refreshment. In addition to enjoyment, functional chewing gums impart some practical functions. Based on the benefits, functional chewing gum is characterized into four such as: Lifestyle gum, Weight gum, Oral health gum, and Nicotine gum. Manufacturers uses various types of ingredients to enhance the functionality. Functional chewing gums are becoming popular among consumers because they find it cheaper alternative to supplements.
Technavio’s analysts forecast the global functional chewing gum market to grow at a CAGR of 3.55% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global functional chewing gum market for 2017-2021. To calculate the market size, the report considers the sales of various functional chewing gums such as lifestyle gum, weight gum, oral health gum, and nicotine gum.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Functional Chewing Gum Market 2017-2021
Technavio recognizes the following companies as the key players in the global functional chewing gum market: LOTTE, Mars, Mondelēz International, Perfetti Van Melle, and THE HERSHEY COMPANY.
Other Prominent Vendors in the market are: Alkalon, FITGUM, GLOBAL PHARMA, Mastix, MD'E GUM, Med CBDX, Simply Gum, Vitale-XD, and ZOFT Gum Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing use of natural ingredients in functional chewing gums. Consumers increasingly prefer functional chewing gums with natural ingredients owing to increased consciousness about the adverse health impacts associated with artificial food ingredients. Increasing health consciousness among consumers adds to the demand for products that are made of natural ingredients.”
According to the report, one driver in the market is awareness about the benefits of functional chewing gums among consumers. The rise in awareness of the benefits of functional chewing gums is driving the global functional chewing gum market. Functional chewing gums are associated with multiple perceived health benefits. Chewing gum aids in improving memory, reducing stress, increasing focus and alertness, improving oral health, and others. Functional chewing gums contain ingredients that serve additional benefits. For instance, spearmint and peppermint gums tend to combat bad breath and aid toward relief from dyspepsia.
Further, the report states that one challenge in the market is availability of substitutes. The availability of numerous substitutes for functional chewing gums is likely to impede the market's growth during the forecast period. Substitute products include bubble gums, fennel seeds, mouth fresheners, and others. Bubblegums are available in various colors and flavors; a large number of consumers prefer bubble gums. Young consumers are likely to try various substitutes that are available in the market. This might restrict the growth of the global functional chewing gum market.
LOTTE, Mars, Mondelēz International, Perfetti Van Melle, THE HERSHEY COMPANY, Alkalon, FITGUM, GLOBAL PHARMA, Mastix, MD'E GUM, Med CBDX, Simply Gum, Vitale-XD, and ZOFT Gum Company.