(MENAFN- America News Hour) After chocolates and candy, gum is ranked third in the confectionary purchases. It is one of the most impulsive commodities one buys from the market.
Many new kinds of chewing gums are being introduced in the market which inflict good effects in personal hygiene. Teeth whitening gums, tooth decay preventing gums, sugar free, etc. Energy gums is also an emerging sector where key market players have already begun researching about new innovative ingredients.
Chewing gums are also becoming increasingly popular among sports persons. The stress releasing factor pulls the consumer to the purchase of chewing gums. The market is valued at US$ XX Billion and is expected to grow at a CAGR of XX per cent. It is projected to reach a valuation of US$ XX Billion at the end of the forecast period.
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Market Dynamics
Used majorly as a mouth freshener, gum is an attractive impulse buy for the consumers. Producers have come up with new flavors, sporting new health benefits. Producers are attracting more and more consumers towards chewing gums by advertising them with benefits like tooth decay prevention, teeth whitening, etc. The introduction of such healthy alternatives is a boost for the market. However, gums are still considered environmental hazards. Their disposal of chewed gum is still a concern. Such factors restrain the market growth.
Market Segmentation
The global gum market can be segmented into the following:
By Type
By Sugar Type
By Distribution Channel
Bubble gum
Chewing gum
Functional gum
Energy gum
Others
Sugared
Sugar free
Hyper markets
Super markets
Convenience stores
Departmental stores
Specialty stores
Online Purchases
Functional gums are gums which have practical use as well in spite of the usual enjoyment. Nicotine gums are popular for aiding smoking cessation. Producers have also come up with something called think gums. Researchers say if helps in enhancing mental function. Other functional gums include teeth whitening gums, tooth decay prevention gums, etc.
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Geographical Analysis
Europe holds the largest share in the number of gum purchases in the market. Countries like Bulgaria, Germany, UK, Switzerland, etc. contribute the most to the market. The large population in the Asia Pacific region ranks it second in terms of sales. India and China lead the charts with the highest number of sales. The market in South America is growing at a quick rate. North America's gum market is growing at a sluggish rate.
Key Players
Some of the key players in the market are:Wrigley's,Mondelez,Perfetti,Lotte,Cloetta
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