Dublin, July 25, 2023 (GLOBE NEWSWIRE) -- The "Gums (Chewing Gum and Bubble Gum): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Gums (Chewing Gum and Bubble Gum), which was estimated at US$33.1 Billion in 2022, is projected to witness substantial growth, reaching a revised size of US$48.4 Billion by 2030.
This growth is expected to be driven by a Compound Annual Growth Rate (CAGR) of 4.9% during the analysis period 2022-2030. The Chewing Gum segment is expected to record a CAGR of 4.6%, reaching US$26.3 Billion by the end of the analysis period. Meanwhile, the Bubble Gum segment is projected to experience a CAGR of 5.1% for the next 8-year period.
The U.S. market for Gums is estimated to be valued at US$9 Billion in 2022. China, the world's second-largest economy, is forecasted to grow at a CAGR of 7.8% and reach a projected market size of US$10.1 Billion by 2030. Other noteworthy geographic markets include Japan and Canada, with forecasted growth rates of 2.8% and 3.8% respectively over the period 2022-2030. Germany is also expected to grow at approximately 3.6% CAGR within Europe.
The report highlights some of the key competitors in the global Gums market, including Arcor Group, Cloetta AB, Ferndale Confectionery Pty Ltd., Haribo GmbH & Co. Kg, Lotte Confectionery, Mars, Inc., Meiji Holdings Company, Ltd., Mondelez International, Peppersmith, Perfetti Van Melle, The Hershey Company, and The Wm. Wrigley Jr. Company.
In 2023, the market is expected to witness various global events affecting the business landscape. Special coverage will focus on the Russia-Ukraine war, global inflation, easing of China's zero-Covid policy, supply chain disruptions, global trade tensions, and risks of a recession.
The report offers insights into global competitiveness and key competitor percentage market shares. It analyzes the market presence across multiple geographies, categorizing players as Strong, Active, Niche, or Trivial. The report also provides access to online interactive peer-to-peer collaborative bespoke updates, digital archives, and a Research Platform, along with complimentary updates for one year.
Looking ahead to 2023, the global economy faces numerous interlocking challenges and crises. The uncertainty surrounding the Russia-Ukraine war and its potential role in creating global instability, along with persisting inflation concerns, may impact consumer confidence and spending. Governments' efforts to combat inflation by raising interest rates could result in slower job creation and economic activity. Additionally, supply chain disruptions, manufacturing challenges, and trade tensions pose risks to various markets. However, businesses and leaders with resilience and adaptability may find opportunities amidst these challenges.
The report covers a forecast period from 2020 to 2030 and includes a detailed analysis of market trends, market drivers, and consumer preferences. It provides insights into the evolving role of Gums as a functional product and the market's demand for innovative Gum products with health and medicinal properties. Furthermore, it examines the impact of demographic shifts, urbanization, and economic trends on the market.
In conclusion, the global Gums (Chewing Gum and Bubble Gum) market is poised for significant growth in the coming years, with key players actively competing in the marketplace. Businesses and leaders should stay prepared to navigate the challenges of the evolving global landscape and capitalize on emerging opportunities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 288 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $31.9 Billion |
| Forecasted Market Value (USD) by 2027 | $42 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Arcor Group
- Cloetta AB
- Ferndale Confectionery Pty Ltd.
- Haribo GmbH & Co. Kg
- Lotte Confectionery
- Mars, Inc.
- Meiji Holdings Company, Ltd.
- Mondelez International
- Peppersmith
- Perfetti Van Melle
- The Hershey Company
- The Wm. Wrigley Jr. Company
For more information about this report visit https://www.researchandmarkets.com/r/kfchd5
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