Global Gum Market 2017-2021
Gum is a confectionery product designed to freshen breath. This confectionery product contains a gum base, sweeteners, flavors, colors, and others. Gums are typically classified as chewing gums and bubble gums, and sugared gums and sugar-free gums. Gums are generally breath-freshening items available in varied sizes like pellets, lozenges, and strips in tasty flavors to attract all consumer groups: Children, teenagers, and adults. The sales for gums is largely dependent on consumer impulse. Thus, modern retailers place bubble gums; teeth whitening gums; and chewing gums at cash/billing counters in supermarkets/hypermarkets. Various studies validate that gums constitute one of the largest categories to be purchased at checkout zone, followed by cigarettes and tobacco products. In addition to this, the demand for sugar-free and teeth whitening gums and gums that prevent tooth decay are increasing globally.
Technavio’s analysts forecast the global gum market to grow at a CAGR of 1.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global gum market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Gum Market 2017-2021
Technavio recognizes the following companies as the key players in the global gum market: Mars, Mondelēz International, Perfetti Van Melle, and Lotte.
Other Prominent Vendors in the market are: Arcor, Verve (Glee Gum), The PUR Company, Peppersmith, Focus Nutrition, Xlear, Cloetta, Colombina, EZAKI GLICO, Ferrara Candy Company, Meiji Holdings, MORINAGA & CO, and Hershey.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing demand for functional gums. Consumers (especially in developed markets of the US, Germany, the UK, and others) are more aware of the health aspects of vitamins, minerals, calcium, and other nutrients owing to mass media coverage. Some consumers are health bloggers who have a broader idea of health-associated issues and current food and beverage trends in the market. The increasing inclination of consumers toward leading a healthy lifestyle has increased the overall demand for products with healthier attributes. Thus, ingredient suppliers are formulating functional ingredients to supply them to players who develop functional products.”
According to the report, one of the major drivers for this market is New product launches. Factors such as new product development, refined taste, and versatility, along with improved levels of marketing support are increasing the overall demand for gums. Thus, several players are currently launching gums with new product formulations to expand their portfolios.
Further, the report states that one of the major factors hindering the growth of this market is Decline in smoking rates impacting the consumption of gums. In the US, the overall sales volume of cigarettes has declined considerably due to toughening of regulations on tobacco. For instance, in the US, a total of 30 states (To name some: Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Iowa, Kansas, and others) have passed smoke-free laws in public places, including restaurants and bars. Also, many public awareness programs and campaigns are urging people to quit smoking.
Mars, Mondelēz International, Perfetti Van Melle, Lotte, Arcor, Verve (Glee Gum), The PUR Company, Peppersmith, Focus Nutrition, Xlear, Cloetta, Colombina, EZAKI GLICO, Ferrara Candy Company, Meiji Holdings, MORINAGA & CO, and Hershey.