PUBLISHER: IMARC | PRODUCT CODE: 1561537
PUBLISHER: IMARC | PRODUCT CODE: 1561537
The global chewing gum market size reached US$ 27.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 37.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032. The increasing availability of gum in various packaging sizes, rapid urbanization and fast-paced lifestyles of the consumers, inflating disposable income levels, and continual technological advancements in gum manufacturing are some of the factors propelling the market.
Rapid product innovation
Innovation, production, and packaging are the primary drivers of growth in the chewing gum industry. Customer health knowledge and consciousness, as well as changing consumer eating habits and tastes, are driving forces behind innovation. Manufacturers have expanded their product range by incorporating beneficial additives, organic herbal fillings, and unusual tastes into product compositions to meet the needs of their customers. Innovative packaging strategies, such as eye-catching wrappers, family-sized packs, resealable packaging, and advertising, can assist boost product sales and improve awareness, thereby expanding the chewing gum market share.
Increasing popularity of chewing gums for curing health conditions
The growing adoption of chewing gums for treating medical conditions is expected to drive the market. Organizations are always discovering new applications for which effective chewing gum can be manufactured. These manufacturers of functional chewing gum have attempted to address key issues such as mental health and stress reduction. For example, in June 2020, Rainbow, a French cannabis company, got EUR 1 million from private investors to support the development of stress-relieving products. The company introduced the wellness brand Kaya. It develops chewing gums using cannabidiol as a component to help individuals manage stress on a daily basis. This, in turn, is creating a positive chewing gum market outlook.
Growth of e-commerce platforms
The rise of e-commerce platforms is bolstering the market by offering consumers a quick and accessible way to buy their favorite gum products. This element has broadened the market's reach beyond geographical limits, allowing people all over the world to easily access and purchase chewing gum. Online platforms offer thorough product information, user reviews, and recommendations, thereby improving consumer decision-making. Furthermore, e-commerce enables the introduction of new and novel gum variations to a larger audience, resulting in higher testing and uptake. According to the chewing gum market report, the options to compare prices, enjoy discounts, and receive doorstep delivery has made e-commerce a tempting outlet.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for 2024-2032. Our report has categorized the market based on sugar type, product type, and distribution channel.
Sugar free chewing gums dominate the market
The report has provided a detailed breakup and analysis of the market based on the sugar type. This includes sugar free chewing gums and sugared chewing gums. According to the report, sugar free chewing gums represented the largest segment.
The sugar-free chewing gum segment is expected to hold the largest share of the global chewing gum demand during the forecast period. Sugar-free gum products are popular as health-conscious consumers look for healthier substitutes for sugary foods. Chewing gums that provide the same enjoyable chewing sensation without the extra sugars are appealing to individuals who are watching their sugar intake and dental health. Furthermore, the rising prevalence of diabetes and obesity has increased the demand for sugar-free chewing gum as a guilt-free treat. Manufacturers have responded by including a variety of flavors and functional substances in their sugar-free gum products to appeal to a wide range of tastes and preferences. As this trend continues, sugar-free chewing gums will continue to be one of the major chewing gum market drivers. This segment expansion is also due to the growing awareness of the negative effects of excessive sugar consumption.
Pellet holds the largest share in the market
A detailed breakup and analysis of the market based on the product type have also been provided in the report. This includes pellet, stick/tab, centre-filled, cut and wrap, ball, and others. According to the report, pellet accounted for the largest market share.
Pellet is dominating the market and contributing to the chewing gum market growth. Pellet-style chewing gums provide a distinct and convenient consuming experience, making them increasingly popular with consumers. These compact and portable gum shapes are popular for rapid refreshment, making them ideal for on-the-go lifestyles and hectic schedules. With rising demand for simple and pleasant snacking options, the pellet category of chewing gum products is likely to drive market expansion. Its portability, variety, and sensory engagement make it well suited to meeting modern consumer wants and tastes. This, in turn, is offering chewing gum market business opportunities.
Convenience stores hold the maximum share in the market
A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, pharmacies, convenience stores, departmental stores, online, and others. According to the report, convenience stores accounted for the largest market share.
Convenience stores play an important role in making gum more available to consumers, particularly those who want to buy it quickly and on the go. Gum is strategically placed near checkout counters and high-traffic locations in convenience stores to induce impulse buying and increase sales. Their extended hours of operation and widespread availability make them an ideal destination for individuals seeking prompt gratification. Furthermore, the diversified demography that frequents convenience stores guarantees that gum products reach a broad variety of consumers, including students and professionals. This, in turn, is creating an optimistic chewing gum industry overview.
North America leads the market, accounting for the largest chewing gum market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. According to the report, North America represents the largest regional market for chewing gum.
In North America, the demand for chewing gums is associated with increasing awareness about the health benefits of chewing gum consumption. This heightened awareness significantly contributes to the chewing gum market revenue in the region. Since increasing awareness of the health benefits associated with chewing gum consumption significantly contributes to the chewing gum market revenue in North America, the demand for both chewing and bubble gums has been rising substantially. As a result, manufacturers are employing innovative flavors, attractive packaging, and effective marketing strategies to engage consumers and foster brand loyalty. Additionally, the widespread availability of a diverse range of gum products, facilitated by the extensive presence of supermarkets, convenience stores, and online retail platforms, further enhances product sales across the region, thereby maintaining its dominance as the largest regional market.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Leading chewing gum companies are extensively spending in research and development activities to increase their product ranges, allowing the chewing gum industry to grow even further. Market participants are also engaging in a number of strategic initiatives to grow their worldwide footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. To grow and survive in a more competitive and increasing market environment, the chewing gum sector must provide cost-effective products, thereby influencing the chewing gum market forecast positively.