Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "Sugar-Free Chewing Gum Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
This comprehensive analysis provides an in-depth look at the factors propelling the market towards significant growth, with highlights on niche sectors and emerging trends.
The study underscores the market's escalation from its already impressive valuation of $12.11 billion in 2023 to a predicted $13.04 billion in 2024, with a steadfast compound annual growth rate of 7.7%. A fusion of consumer lifestyle changes and innovative product developments has catalyzed this upward trend.
Key Drivers of the Sugar-Free Chewing Gum Industry's Expansion
- Mounting concerns over diabetes management and oral health awareness.
- Aggressive marketing strategies highlighting the benefits of sugar-free options.
- Surging demand in the Asia-Pacific and North American segments.
- Advancements in eco-friendly packaging and functionality of products.
The report spotlights the staggering projections for the market's future, estimating it to balloon to $16.87 billion by 2028. The analysis links this expected growth rate of 6.6% CAGR to the continuous influx of diabetes-friendly products and sustainably manufactured consumables.
The research delineates the impact of diabetes prevalence on market dynamics, noting the critical role of the diabetic population in fostering demand for sugar-free alternatives. With the International Diabetes Federation's latest findings showcasing an alarming rise in diabetes cases, sugar-free chewing gum stands out as a viable solution for many consumers.
Another focal point is the prevalence of dental health issues, which acts as a considerable influencer on market growth. The beneficial role of sugar-free chewing gums in oral care, proven by their ability to reduce dental caries and promote better oral hygiene, is extensively analyzed within the report.
Product Innovation and Sustainability: Key Market Trends
Recognizing the industry players' innovative spirit, the research highlights major brands rolling out ground-breaking flavors and environmentally conscious packaging solutions. Market incumbents are making strides in integrating plant-based, plastic-free solutions in their arrays to align with the global shift towards sustainability.
The analysis also covers key strategic mergers and acquisitions shaping the market landscape, bringing forth examples of companies that have extended their market footprint through strategic initiatives. According to the research, North America topped the charts as the leading sugar-free chewing gum market in 2023, though substantial growth is evident across various other regions and sectors.
The report articulates a segment-wise breakdown, elaborating on the variety of products available—from tooth protection gums to weight loss aids—and the multitude of flavors influencing consumer choice. Distribution channels such as supermarkets, hypermarkets, and online retail stores also receive notable coverage.
A selection of companies mentioned in this report includes
- The Hershey Company
- Perfetti Van Melle Benelux B.V.
- Mondelez International Inc.
- Ferrero S.p.A.
- Lotte Confectionery Co. Ltd.
- The PUR Company Inc.
- Mars Incorporated
- Health Made Easy Group Limited
- Ferndale Confectionary Company
- Chewsy Gum Inc.
- Verve Inc.
- Kraft Foods Inc.
- Haribo GmbH & Co. KG
- The William Wrigley Jr. Company
- Topps Company Inc.
- Simply Gum Inc.
- Nestlé S.A.
- Cadbury Adams USA LLC
- Peppersmith
- Project 7
- Trident Brands Incorporated
- Dentyne
- Eclipse Gum Company
- Extra Brands LLC
- Ice Breakers Canada ULC
- Mentos
- Stride Gum Inc.
- Cloetta AB
- Morinaga & Co. Ltd.
- Tootsie Roll Industries Inc.
For more information about this report visit https://www.researchandmarkets.com/r/or3qpo
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