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The global gum market share is expected to increase by USD 5.68 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.42%.
This global gum market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers global gum market segmentations by product (chewing gums and bubble gums), type (sugared gums and sugar-free gums), and geography (APAC, Europe, North America, MEA, and South America). The global gum market report also offers information on several market vendors, including FITGUM, Functional Gums Srl, Hager and Werken GmbH and Co. KG, Lotte Confectionery Co. Ltd., Mars Inc., Med CBDX, Mondelez International Inc., Perfetti Van Melle Group BV, Simply Gum Inc., and The Hershey Co. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The new product launches are notably driving the global gum market growth, although factors such as the lack of efficient chewing gum disposal techniques may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the global gum industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Global Gum Market Driver
The new product launches are one of the key factors driving the growth of the global gum market. 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. In September 2020, Razer launched a chewing gum made for gaming. The product is developed after extensive R&D, and it can be consumed at any time of day or night to keep gamers focused. The launch of new chewing gum products in fresh mint, spearmint, and watermelon flavors. In July 2021, Philip Morris International Inc. (PMN) planned to buy nicotine gum maker Fertin Pharma. The company manufactures chewing gums, tablets, and powders utilized for pharmaceutical and nutraceutical applications and helps people quit harmful cigarette smoking. More players are expected to launch new gum varieties during the forecast period, thereby enhancing sales and boosting the market growth.
Key Global Gum Market Trend
The growing demand for functional chewing gums will fuel the global gum market growth. Functional chewing gum contains healthy additives, such as minerals, vitamins, and amino acids. Functional chewing gum offers numerous health benefits, such as improved memory, increased focus, and improved oral health. It helps reduce stress and body weight. Vendors operating in the global functional chewing gum market innovate continuously and offer a wide variety of functional chewing gum products with various health benefits. Moreover, functional gum is also used to prevent caries and tooth decay. Miradent offers Xylitol Gum that helps in reducing lasting tooth decay. Xylitol forms complexes of calcium and saliva proteins in the oral cavity, which leads to the remineralization of the tooth structure and eliminates the chances of new plaque formation. Thus, it prevents the development of caries and removes the existing plaque. Such health benefits associated with functional gum are increasing the popularity of this gum among consumers in the global market. With the increasing popularity, it is expected that the consumption of functional gum will further rise during the forecast period.
Key Global Gum Market Challenge
The lack of efficient chewing gum disposal techniques is a major challenge for the global gum market growth. Chewing gum is non-biodegradable. Cities and countries across the world are spending heavily to remove gum from the streets. It is impossible to compost chewing gum, as it does not break down. The use of chemicals to break down chewing gum exudes a harmful odor. Chewing gum is not digestible. Birds eat chewing gum from the streets and die due to choking. Next to cigarette butts, chewing gum is the second-largest littering item in the world. However, chewing gum litter is a global problem, and governments across the world are spending millions of dollars every year to clean up sticky gum from the streets. Moreover, several organizations and local councils are worried about the growing consumption of chewing gums and are requesting the government to introduce a tax on the sale of chewing gums to help pay to clean the gum wastes on the streets. The improper disposal techniques may lead to an increase in tax on functional chewing gum to manufacturers, which will eventually affect the growth of the market during the forecast period.
This global gum market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The global gum market is a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the global gum market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the global gum market encompasses successful business strategies deployed by the key vendors. The global gum market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The global gum market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the global gum market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global packaged foods and meats market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Type
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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