Market Overview
The increasing trend of eating gum has been driven by an understanding of its benefits from dental health and facial contouring to an extent. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The market stands to gain an income of USD 13,548.3 Million with the support of a 5.2% CAGR by 2027.
The preference for sweet food items has always been high but with the availability of sugar-free options, the demand is estimated to raise the growth of the sugar-free chewing gum market. The improvement in distribution capabilities in the retail sector is likely to enhance the sugar-free chewing gum market share in the future.
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Segmental Analysis
The segmental investigation of the sugar-free chewing gum market is carried out based on flavor distribution channels and regions. The region segment of the sugar-free chewing gum market comprises Europe, Asia Pacific, North America, and the rest of the regions. The distribution channel segment of the sugar-free chewing gum market consists of store-based channels and non-store-based channels. The flavor segment of the sugar-free chewing gum market consists of bubble gum, mint, fruit, cinnamon, and others.
Detailed Regional Analysis
The regional appraisal of the sugar-free chewing gum market consists of Europe, Asia Pacific, North America, and the rest of the regions. The North American sugar-free chewing gum market reported for the maximum portion of the global market in 2019 as an elevated occurrence of obesity in the region that has created the need for increased consumption of sugar-free products. The US national market is the major market in North America due to the elevated product awareness, presence of important players, and novelty in flavors that are driving the sugar-free chewing gum market in the US national market. The Asia-Pacific sugar-free chewing gum market is the most profitable market for manufacturers because of the rising awareness of benefits related to sugar-free chewing gum and increasing investments by the producers in the emerging countries advancing the progress of the sugar-free chewing gum market in the region of Asia Pacific. The evolution of the organized retail sector is additionally furthering the market growth with straightforward product availability to the consumers.
Competitive Analysis
The tendency to invest and expand capacities is estimated to create a promising scope for the market in the impending years. The change in several regulations that are running the development of the market is estimated to impact the innovations that can be seen in the global market. The market is appraised to be stimulated by an increased development upsurge that is bracing the contenders who are active in the market. The competition in the market is estimated to flare up following the disruption created by the COVID-19 pandemic. The government intervention in the creation of opportunities that can incentivize the development of key regions in the market is predicted to further add an optimistic touch to the proceedings in the market. The emphasis on ensuring sustainability in long-term operations is estimated to be a key cause for development in the upcoming period. The trends in the market are estimated to bolster the progress in the worldwide market. The increased contribution of online channels towards the swell in transactions is predicted to further encourage the advancement of the market in the future.
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The imperative companies in the sugar-free chewing gum market are The PUR Company Inc. (Canada), Perfetti Van Melle Group B.V. (Italy), Mondelēz International, Inc (US), Mars Incorporated (US), Ferrero SpA (Italy), The Hershey Company (US), Verve, Inc. (the US), Lotte Corporation (Japan), Kraft Foods Inc (US), Health Made Easy Group (UK), Haribo GmbH & Co. Kg (Germany), Ferndale Confectionery Pty Ltd (Australia), The Wm. Wrigley Jr. Company (US), Topps Company Inc. (US) and Simply Gum Inc. (US)
Industry Updates:
Jan 2021 Mars has emphasized that the chewing gum product segment is an area that will be focused on for expansion in 2021 as it is very relevant to the healthier eating theme seen globally. With many consumers preferring to chew gum that doesn’t have sugar because it's bad for dental health, is inducing the company into making plans to enter this space more aggressively as they have their sugar-free Orbit gum that already fits this trend.
Sep 2020 Razer is now undertaking a new territory with chewing gum for gamers. The Singaporean business lately joined with 5 Gum to make “Respawn by 5 Gum”, a gamer-centric sugar-free gum that can “uphold mental concentration and reaction time.” Razer has developed the gum with a huge amount of R&D, concentrating on the everyday regimens of pro and casual gamers. While the present solution for gamers to endure long-lasting hours of gameplay is mixed-formula drinks similar to GFuel and Razer’s very own Respawn, Respawn by 5 Gum presents a quick fix that doesn’t give you a momentous surge of caffeine for the remainder of the day.
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