Chewing Gum Market Will Remain Relatively Stagnant Through 2024
Chewing gum includes gummy materials such as chicle, flavored, and sweetened. Some of the chewing gum designed to be inflated out of the mouth and are termed as “bubble gum”. It is consumed globally in different flavors such as watermelon, cinnamon, banana, blue raspberry, lemon, strawberry, apple, cherry and peppermint among others.
The Gum market can be segmented into the Bubble Gum, bubble gum sugar free and Chewing gum and Sugar free chewing gum. The market can also be segmented geographically into North America, APAC, Europe and RoW regions.
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The global Gum market is expected to grow with a single digit CAGR from 2013 to 2019.Gum is consumed worldwide and is more popular among kids. However there is an increase in the consumption of sugar free Gum in developed countries due to various health awareness programs, which fuel the demand of sugar free Gum.
The U. S. is the market leader in gum consumption. Innovation by manufactures by introducing a number of flavors, along with different size and shapes in gum is attracting more consumers. The younger generation is the major consumers of candies. Attractive packaging also acts as a major driver of gum market. Large proportion of youth in population in Asia Pacific is expected to drive the consumption of chewing/ bubble gum over the next six years. The population of kids also would drive the consumption of bubble gums in Asia Pacific.
Some of the key players in Gum market are Mondeléz International Inc, Kraft Foods Inc., Mars Incorporated, Ferndale Confectionery Pty Ltd., Haribo GmbH & Co. Kg, Perfetti Van Melle, The Hershey Company, The Wm. Wrigley Jr. Company, and ZED Candy among others.
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