Chewing Gum Market Size To Worth $26.8 Billion By 2031, With A CAGR Of 4.3% | Arcor Group, Cloetta AB, Ferrero Group


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Chewing Gum

The rising wellness trends in the confectionery industry are boosting the demand for organic, sugar-free, and low-calorie chewing gum across the globe.

PORTLAND, OR, UNITES STATES, March 29, 2023 /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.

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.

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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.

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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.

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).

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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, sugar-free chewing gum segment dominated the chewing gum industry in 2021 & 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 & expected to retain its dominance throughout the forecast period.
Region-wise, Europe accounted for the largest chewing gum market size in 2021 and is expected to grow at a CAGR of 3.1%.

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David Correa
Allied Analytics LLP
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