New York, United States , April 24, 2024 (GLOBE NEWSWIRE) -- The Global Chewing Gum Market Size is to Grow from USD 13.83 Billion in 2023 to USD 19.64 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.57% during the projected period.
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Chewing gum is a delightful treat whose vivid flavor awakens the senses and adds excitement to ordinary moments. A gum bubble's pleasant explosion brings a whimsical touch to life and awakens one's inner kid. Its compact size allows for quick refreshment, making it ideal for an energy boost on busy days. Gum's diverse spectrum of tastes, which includes both traditional mint and exotic fruits, provides a little escape into a world of taste experiences. In addition, the chewing gum industry is drawing interest from numerous businesses due to its enormous growth potential. The demand for sugar-free and low-calorie confections has increased as a result of the public's growing worries about fitness and health and the attraction of attractive packaging. This is expected to support the chewing gum industry. Leading businesses in the industry are finding opportunities as a result of the introduction of chewing gum that is sugar-free and healthy. However, issues including a lack of regulation, shifting price policies, and the harmful effects of excessive gum chewing will make it challenging for the market to grow in the anticipated time frame. Excessive sugar consumption is proven to be harmful to one's health. This has sparked questions about how much sugar is in most bubble gums.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Chewing Gum Market Size, Share, and COVID-19 Impact Analysis, By Sugar Type (Sugar-Free Chewing Gums, Sugared Chewing Gums), By Product Type (Pellet, Stick/Tab, Centre-filled, Cut and Wrap, Ball, and Others), By Distribution Channel (Supermarkets and Hypermarkets, Pharmacies, Convenience Stores, Departmental Stores, Online, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The sugar-free chewing gum segment is anticipated to hold the greatest share of the global chewing gum market during the projected timeframe.
Based on the sugar type, the global chewing gum market is divided into sugar-free chewing gums, and sugared chewing gums. Among these, the sugar-free chewing gum segment is anticipated to hold the greatest share of the global chewing gum market during the projected timeframe. This is because consumers who are conscious of their sugar intake and tooth health find sugar-free gums appealing. After all, they offer the same satisfying chewing experience without any added sugar.
The pellet segment is anticipated to hold the greatest share of the global chewing gum market during the projected timeframe.
Based on the product type, the global chewing gum market is divided into pellet, stick/tab, Centre-filled, cut and wrap, ball, and others. Among these, the pellet segment is anticipated to hold the greatest share of the global chewing gum market during the projected timeframe. Customers are starting to favor pellet-style chewing gums more and more since they offer a unique and useful eating experience.
The convenience stores segment is predicted to hold the greatest share of the global chewing gum market during the projected timeframe.
Based on the distribution channel, the global chewing gum market is divided into supermarkets and hypermarkets, pharmacies, convenience stores, departmental stores, online, and others. Among these, the convenience stores segment is predicted to hold the greatest share of the global chewing gum market during the projected timeframe. Convenience stores are essential for selling gum to customers, particularly those who want to buy it quickly and on the go. Gum is placed strategically near convenience store checkout counters and in high-traffic locations to encourage impulsive purchases and increase sales.
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North America is expected to hold the largest share of the global chewing gum market over the forecast period.
North America is expected to hold the largest share of the global chewing gum market over the forecast period. The chewing gum market in North America is growing significantly for several reasons. Because of the region's diverse consumer base and busy lifestyle, chewing gum is the ideal quick refreshment and stress reliever. Sugar-free and natural gum variants are becoming more and more popular, catering to the growing trend of health consciousness and increasing demand from those searching for healthier snack options. Gum manufacturers interact with North American consumers and foster brand loyalty through innovative tastes, striking packaging, and smart marketing strategies.
Asia Pacific is predicted to grow at the fastest pace in the global chewing gum market during the projected timeframe. The big millennial demographic and their propensity for chewing gum. Because of this, countries like China and India are the area's primary potential customers. The manufacturers' release of new functional chewing gums supplemented with vitamins and minerals, offering nutritional and health benefits, is expected to drive the regional market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Chewing Gum Market include Meiji Co., Ltd., Mondelez International, Inc., Wrigley Company (Mars, Incorporated), The Hershey Company, Perfetti Van Melle Group B.V., Lotte Corporation, Ferrero International S.A., Nestlé S.A., Cadbury Adams (Kraft Heinz Company), Gumlink A/S, and Others.
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Recent Developments
- In April 2022, Mars Wrigley launched two new gum flavors in Australia. in particular, ECLIPSE PLUS and White. The new ECLIPSE PLUS series comes in two varieties: release and comfort. The EXTRA WHITE gum is meant to help with breath and plaque removal.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Chewing Gum Market based on the below-mentioned segments:
Global Chewing Gum Market, By Sugar Type
- Sugar-Free Chewing Gums
- Sugared Chewing Gums
Global Chewing Gum Market, By Product Type
- Pellet
- Stick/Tab
- Centre-filled
- Cut and Wrap
- Ball
- Others
Global Chewing Gum Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Pharmacies
- Convenience Stores
- Departmental Stores
- Online
- Others
Global Chewing Gum Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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