Chewing gum market: Key market research findings
- Increased preference towards sugar-free gums
- Growing inclination towards health benefits of chewing gums
Technavio has released a new market research report on the global chewing gum market, which is expected to grow at a CAGR of around 6% between 2015 and 2019. The chewing gum market in Europe accounts for the largest market share of around 27%. Bulgaria, UK, Switzerland, and Poland are the key consumers of chewing gums in this region. The demand is high in these nations due to constant flavor innovations and dental benefits of gums.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth, as well as the segments with the maximum growth potential.
“Health-conscious consumers prefer low-calorie chewing gums that are manufactured with natural ingredients. For instance, Cargill launched an all-natural mint chewing gum, which is an amalgamation of Truvia stevia leaf extract and Zerose erythritol. Glee Glum manufactures aspartame-less chewing gums in recyclable pouches,” says Sriram Mohan, Lead Analyst, Food & Beverage, Technavio Research.
The sugar-free gum segment dominates the global market for chewing gums, accounting for around 73% of the total market share. Rising health awareness among people is prompting higher consumption of sugar-free chewing gums. This segment is expected to grow at a CAGR of more than 9% during the forecast period, owing to the dental benefits they offer.
Global chewing gum market by product segmentation
Source: Technavio Research
As per International Chewing Gum Association (IGCA), sugar free chewing gums lower the amount of plaque acid in the mouth, thus minimizing the chances of a tooth decay by nearly 40%. These chewing gums also minimise the stress level and control the appetite. Moreover, nicotine gums help people control the frequency of smoking. Functional chewing gums are those with value-added benefits including several nutrients and vitamins such as those found in energy chewing gums.
The leading vendors in the global chewing gum market are Wrigley’s, Mondelez, Perfetti, and Lotte. The market is dominated by a small number of key suppliers that account for 70% of the market share. Vendors compete on the basis of price variation, product extensions, flavor innovation, the existence of natural and medicated ingredients in the chewing gum, and innovative packaging.
A more detailed analysis is available in the Technavio report, Global Chewing Gum Market – Market Analysis Report 2015 – 2019.
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