Sugar-Free Chewing Gum Market Growth, Regional Demand, Competitor| Forecast
Sugar-Free Chewing Gum 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.
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.
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. (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)
Segmental
Analysis
The
segmental investigation of the sugar-free chewing gum market analysis is
carried out on the basis of flavor distribution channel and region. The region
segment of the sugar-free chewing gum market comprises of Europe, Asia Pacific,
North America, and the rest of the regions. The distribution channel segment of
the sugar-free 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 size 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 share 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 growth
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.
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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Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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