Global Gums (Chewing Gum And Bubble Gum) Market Size By Product Type, By Flavor, By Distribution Channel, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Gums (Chewing Gum And Bubble Gum) Market Size By Product Type, By Flavor, By Distribution Channel, By Geographic Scope And Forecast
Gums (Chewing Gum And Bubble Gum) Market Size And Forecast
Gums (Chewing Gum And Bubble Gum) Market size was valued at USD 37.5 Billion in 2023 and is projected to reach USD 48.3 Billion by 2030, growing at a CAGR of 5.31% during the forecast period 2024-2030.
The gums market, encompassing both chewing gum and bubble gum, refers to the global industry involved in the production, distribution, and consumption of these popular confectionery products. Chewing gum typically consists of a gum base, sweeteners, flavors, and sometimes additives such as softeners or colorants, while bubble gum contains similar ingredients with the addition of materials that allow it to create bubbles when chewed. These products are widely consumed across various demographics, with a range of flavors, packaging formats, and functionalities catering to diverse consumer preferences.
Global Gums (Chewing Gum And Bubble Gum) Market Drivers
The market drivers for the Gums (Chewing Gum And Bubble Gum) Market can be influenced by various factors. These may include
Changing Consumer tastes The demand for gums as an on-the-go refreshment alternative is driven by shifts in consumer tastes towards convenient and portable snack options.
Growing Urbanisation As a result of busier lifestyles and increased disposable incomes brought about by rising urbanisation rates, especially in emerging nations, there is a growing demand for quick and easy consumables like chewing gum.
Health Consciousness Rising dental health awareness as well as consumer demand for functional or sugar-free gums that also whiten teeth, refresh breath, and reduce stress are driving the market.
Product development and innovation Continual product innovation draws customers and maintains market expansion. Examples of this include new tastes, attractive packaging, and useful improvements.
Retail Expansion By making gum products more accessible, the expansion of retail channels—such as supermarkets, hypermarkets, convenience stores, and online platforms—drives market growth.
Marketing and Advertising Campaigns Gum makers use effective marketing strategies and advertising campaigns to target different customer segments and encourage gum usage, which helps to expand the market.
Globalisation and International Trade Growing levels of globalisation and trade make gum goods more widely available and easier to distribute, which propels market expansion.
Global Gums (Chewing Gum And Bubble Gum) Market Restraints
Several factors can act as restraints or challenges for the Gums (Chewing Gum And Bubble Gum) Market. These may include
Health Concerns Growing worries about the negative health implications of consuming too much gum, including possible digestive troubles, dental problems, and concerns about artificial ingredients, are slowing the expansion of the industry.
Competition from Alternative Products The expansion of the gum business is challenged by fierce competition from other snack options like sweets, mints, and healthy snacks like fruits and nuts.
Regulatory Restrictions Expansion of the market and product innovation may be hampered by tight restrictions in different regions regarding ingredient labelling, health claims, and food safety standards.
Environmental Concerns Raising consumer awareness of the problems associated with gum packaging and disposal that relate to environmental sustainability and plastic pollution could have a detrimental effect on the demand for and perception of gum products.
Economic Uncertainty Consumer purchasing habits and the expansion of the gum market can be impacted by economic downturns, changes in the price of raw materials, and volatility in currency exchange rates.
Changing Demographics The target market for gum products may shrink as a result of changing consumer preferences brought about by factors like ageing populations in some areas and diminishing young populations in others.
Cultural factors Market penetration in specific countries or demographics may be limited by cultural differences and preferences about chewing habits, flavours, and social standards.
Global Gums (Chewing Gum And Bubble Gum) Market Segmentation Analysis
The Global Gums (Chewing Gum And Bubble Gum) Market is Segmented on the basis of Product Type, Flavor, Distribution Channel, and Geography.
Gums (Chewing Gum And Bubble Gum) Market, By Product Type
Chewing Gum Chewing gum is a type of gum that is designed to be chewed but not swallowed. It is available in various flavors, including mint, fruit, and bubblegum.
Bubble Gum Bubble gum is a type of chewing gum specifically formulated to create bubbles when chewed. It often comes in fruity flavors and is popular among children.
Gums (Chewing Gum And Bubble Gum) Market, By Flavor
Mint Mint-flavored gums are popular for their refreshing taste and breath freshening properties.
Fruit Fruit-flavored gums come in a variety of flavors such as strawberry, watermelon, grape, and orange, appealing to a wide range of tastes.
Bubblegum Bubblegum-flavored gums have a sweet and nostalgic taste reminiscent of classic bubblegum brands.
Gums (Chewing Gum And Bubble Gum) Market, By Distribution Channel
Supermarkets/Hypermarkets Gums are widely available in supermarkets and hypermarkets, offering a wide selection of brands and flavors.
Convenience Stores Gums are often sold in convenience stores for quick and on-the-go purchases.
Online Retail The online retail segment for gums is growing, offering consumers the convenience of purchasing gum products from e-commerce platforms.
Gums (Chewing Gum And Bubble Gum) Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Gums (Chewing Gum And Bubble Gum) Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Gums (Chewing Gum And Bubble Gum) Market are
By Product Type, By Flavor, By Distribution Channel, and By Geography.
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Conclusion
In conclusion, the gums market continues to exhibit steady growth driven by factors such as increasing disposable incomes, growing urbanization, and the introduction of innovative product variants. Key players in the industry are investing in product development, marketing strategies, and distribution networks to maintain their competitive edge and expand their market presence. Despite challenges such as fluctuating raw material prices and regulatory constraints, the outlook for the gums market remains promising, with opportunities for further growth anticipated in emerging economies and segments such as sugar-free and functional gums.
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