Chewing Gum Market
Chewing gum market set to grow at a 4.3% CAGR, with rising demand for sugar-free options leading the way.
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, August 30, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Chewing gum Market,” The chewing gum market size was valued at $16.1 billion in 2021, and is estimated to reach $26.8 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.
✅ 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/A08801
Chewing gum is a soft, cohesive substance designed to be chewed without being swallowed. Chewing gum is composed of gum base, softeners/plasticizers, flavors, colors, and, typically, a hard or powdered polyol coating. Chewing gum is available in both sugared and sugar-free variants. The sweetener used in sugared chewing is natural cane sugar or fruit-based pulp which contains natural fruit sugar. Sugared chewing gum is high in calories and poses a threat of forming tooth decay. On the other hand, sugar-free chewing gum contains high-intensity sweeteners, sugar alcohols, and alternative sweeteners.
The expansion of sales channels is a significant element contributing to the chewing gum market growth, and one of them is the online retail platform, which is also the fastest-growing category. Many retail companies are currently operating web-based retail shops where shoppers can learn more about businesses and their items. The availability of different product selections and price comparison on internet platforms is also increasing the number of people who purchase online. This is advantageous to major players since it eliminates the need for physical outlets or stores while also allowing customers to read reviews offered by other users and compare various stores, goods, and prices of different sellers for various types of chewing gum.
Furthermore, according to World Bank data, in the year 2020, North America was the leader with about 88.4% of the populace being internet users, followed by Europe and Central Asia with approximately 83.9% of the inhabitants being internet users. Amazon.com and Flipkart.com are two famous online merchants in the chewing gum sector. Furthermore, in addition to sales channels, product availability is increasing in convenience stores and local shops in small towns, propelling market expansion.
Sugar is a key element in sugared chewing gum that provides sweetness. Sugar consumption is increasing, limiting the expansion of the chewing gum industry, as it has been linked to dental difficulties in consumers as a result of long-term usage. According to the American Dental Association, sugar consumption has been related to an increased risk of developing dental caries. Sugar is frequently blamed for the growth in obesity and diabetes rates. Individual obesity and diabetes are two major contributors to the increase in deaths. According to worldobesity.org, over 2000 million people will be overweight or obese by 2020, with 463 million people suffering from diabetes. As a result, consumers have grown more cautious of their sugar intake and are gravitating toward items with great nutritional value. As a result, worldwide demand for sugar-free chewing gum is increasing. Overall, consumers are becoming more conscious of the need for keeping excellent health, which is stopping them from purchasing sugar-containing chewing gum.
✅ 𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟒𝟒𝟒 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://www.alliedmarketresearch.com/checkout-final/5efd3786860cbdc50200583df98dfa26
The global trash volume created by the population is expanding at a rapid pace throughout time. According to Worldbank.org, the global population generates 2.01 billion tons of municipal solid garbage every year, with at least 33% of that not being managed in an ecologically sustainable manner. Waste created by the person per day in the globe averages 0.74 kilos but varies greatly, ranging from 0.11 to 4.54 kilos. According to justoneocean.org, 374 billion sticks of gum weigh a total of 100,000 tons. Every year, 100,000 tons of plastic pollution enter the ecosystem. Over 1 million metric tons of chewing gum will be manufactured, consumed, and discarded in the next five years, according to estimates. In 2019, the UK spent $72.8 million cleaning up chewing gum residue from the streets. The rising volume of garbage in many countries is prompting the government to take stringent action against chewing gum usage. For instance, the Singaporean government prohibited the use of chewing gum in the country in 1992. The growing problem of chewing gum as waste is hurting product sales.
The chewing gum market is segmented into type, form, distribution channel, and region. By type, the market is classified into sugared chewing gum and sugar-free chewing gum. By form, the market is categorized into sticks/tabs, pellets/pillows, liquid filled gum, and others. By distribution channel, the market is divided into supermarkets/hypermarkets, specialty stores, convenience stores, e-commerce, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Turkey, and rest of LAMEA).
Players operating in the global chewing gum market have adopted various developmental strategies to expand their chewing gum market share, increase profitability, and remain competitive in the market. Key players profiled in the report include Arcor Group, Cloetta AB, Ferndale Confectionery Pty Ltd, Ferrero Group, Gumlink Confectionery Company A/S, Grenades Gum, LLC, HARIBO GmbH & Co. KG, Lotte Corporation, Mars, Incorporated., Meiji Holdings Co., Ltd., Mondelez International, Inc., Perfetti Van Melle, The Hershey Company, Tootsie Roll Inc., and Yıldız Holding.
📍𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲
► According to the chewing gum market trends, by type, the sugar-free chewing gum segment dominated the chewing gum industry in 2021 and is expected to retain its dominance throughout the forecast period. The dominance is due to the deep product knowledge about the benefits of consuming sugar-free chewing gum.
► According to the chewing gum market analysis, by form, the pellets/pillows segment led the global chewing gum market demand in 2021 and is expected to retain its dominance throughout the forecast period.
► By distribution channel, the supermarkets/hypermarkets segment dominated the global chewing gum industry in 2021 and is expected to retain its dominance throughout the chewing gum market forecast period. Supermarkets/hypermarkets offer different types and brands of chewing gum under a single roof.
► Region-wise, Europe accounted for the largest chewing gum market size in 2021 and is expected to grow at a CAGR of 3.1%.
✅ 𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A08801
📝 𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.
We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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