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International News: Global Chewing Gum Market Catalysed by Impulse Purchasing #18342
Posted by: mzayn
City: Brooklyn
State: NY
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Company: IMARC Group
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News Article:
Over the years, the global chewing gum market has experienced a steady growth. Some of the factors that have facilitated the market growth include health benefits, impulse purchasing, attractive packaging, innovative flavours, etc.

Chewing gum is a soft and non-edible substance produced only for the purpose of chewing. The texture of chewing gum is reminiscent of rubber owing to the properties of polymer, plasticizer, and resin components, which gives it a chewy characteristic. In addition to this, they help to eliminate bad odours by providing a refreshing taste and long-lasting flavour. While the ancient gums were produced from the sap of spruce trees, the modern chewing gum is made up of gum ba se, food colours, flavours, polyol coating among others. A new research report by IMARC Group, ti tled “Chewing Gum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market reached a value of more than US$ 21 Billion in 2017. The report further anticipates the market to exceed US$ 25 Billion by 2023, expanding at a CAGR of over 3% during 2018-2023.

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Market Drivers/Constraints:

One of the primary factors behind the surging demand for chewing gums is their health benefits which include combating stress and anxiety, improving concentration, and reducing oral bacteria due to inclusion of isomaltulose.

Another factor which has augmented the demand for chewing gums is impulse purchasing. This demand is generally supported by the younger generation who resorts to chewing gum after a meal, smoking or during long working days.

Moreover, manufacturers are targeting young population by introducing unique flavours and attractive packaging. Some of the new flavours include cherry, banana, lemon, cinnamon, blueberry, grapes and orange.

However, there are several factors that hamper the market growth. For instance, sugar-free gums also run a risk of dental erosion owing to acidic flavourings and preservatives that are added.

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Product Type Insights:

On the basis of type, the market has been segmented as pallet type, stick/tab type, centre-filled type, cut and wrap type, and ball type. Currently, pallet type dominates the market with the largest share.

Sugar Type Insights:

ba sed on market breakup by sugar type, sugar free chewing gum represents the largest segment followed by sugared chewing gum. This can be accredited to the oral and dental benefits offered by sugar-free chewing gums.

Distribution Channel Insights:

On the basis of distribution channel, supermarkets and hypermarkets represent the largest segment as they offer convenience to the consumers. They are followed by pharmacies, convenience stores, departmental stores and online.

Regional Insights:

On a geographical front, Asia-Pacific enjoys a leading position in the global chewing gum market. Asia-Pacific is followed by North America, Europe, Middle East and Africa, and Latin America.

Competitive Landscape:

The market is fragmented with the presence of both small and large manufacturers who compete in terms of prices and quality. There is an intense competition in the market which makes it difficult for small pla yers to survive. Some of the leading pla yers operating in the market are:

Lotte, Cloetta

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