DUBLIN, December 07, 2021--(BUSINESS WIRE)--The "Gums (Chewing Gum and Bubble Gum) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Gums (Chewing Gum and Bubble Gum) estimated at US$29.9 Billion in the year 2020, is projected to reach a revised size of US$38.6 Billion by 2027, growing at a CAGR of 3.7% over the analysis period 2020-2027.
Bubble Gum, one of the segments analyzed in the report, is projected to record a 4% CAGR and reach US$28.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Chewing Gum segment is readjusted to a revised 2.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.1 Billion, While China is Forecast to Grow at 6.8% CAGR
The Gums (Chewing Gum and Bubble Gum) market in the U.S. is estimated at US$8.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$8.2 Billion by the year 2027 trailing a CAGR of 6.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.1% and 2.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.9% CAGR.
Other Product Types Segment to Record 3.5% CAGR
In the global Other Product Types segment, USA, Canada, Japan, China and Europe will drive the 3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.4 Billion in the year 2020 will reach a projected size of US$4.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.4 Billion by the year 2027, while Latin America will expand at a 4.4% CAGR through the analysis period.
Select Competitors (Total 72 Featured):
Ferndale Confectionery Pty Ltd.
Haribo GmbH & Co. Kg
Meiji Holdings Company, Ltd.
Perfetti Van Melle
The Hershey Company
The Wm. Wrigley Jr. Company
Key Topics Covered:
Influencer Market Insights
World Market Trajectories
Recent Market Activity
Gums: Confectionery with High Levels of Frequent Consumption
Gums: A Few Interesting Facts
Despite Concerns, Myriad Health Benefits Drive Steady Growth in Gum Consumption
Market Fortunes Significantly Impacted by Trends in the Confectionery Sector
Global Market Outlook
Emerging Markets Drive Future Market Growth
Developed Regions: Traditional Revenue Contributors Reduce Scope for Growth
Impact of Covid-19 and a Looming Global Recession
FOCUS ON SELECT PLAYERS
MARKET TRENDS & DRIVERS
Evolving Role of Gums as a Functional Product Drive Market Demand
Gum Innovations and Advancements: Spearheading Growth
3D-Printed Chewing Gum
Chewing Gum for Relief from IBS Symptoms
Cannabis-Based Chewing Gum for Multiple Sclerosis Patients
Gum-tec Compounds from Recycled Chewing Gum
Chewing Gum to Ease Nausea
Chewing Gum for Weight Management
Sensor-Integrated Chewing Gum for Fitness Tracking
Green Chewing Gums
Jolt Energy Gum with Caffeine and Guarana
CBD (Cannabidiol) Chewing Gum
Innovative Flip-Top Packaging for Chewing Gums
Biodegradable Gums: The Next Big Thing in the Gums Market?
Nutraceutical Gum: Inexpensive and Effective
Medium for Delivering Medicinal Properties Offer Huge Market Potential
Localized Effects and Convenience Drive Demand for Medicated Chewing Gum as a Drug Delivery System
A Plethora of Interesting Flavors Benefit Market Adoption
Flavor Preferences Vary by Region
"Bubble Gum Flavor": Still the Popular Choice
Mint: All-Time Favorite
Sweet and Sour: A Unique Flavor
Changing Attitudes, Health and Product Safety Concerns Influence Gum Packaging Formats
Increasing Prominence of Nicotine Replacement Therapies (NRTs) Drive Demand for Anti-Smoking Gums
Growing Health Concerns Inflate Sales of Products with All-Natural Ingredients
Shift in Consumer Preference from Mints to Breath-Freshening Gum Augurs Well for the Market
Limiting Calorie Intake with Chewing Benefit Gums Demand in Weight Management
Favorable Demographic and Economic Trends Strengthen Market Prospects
Demographic Shift Prompts Adult-Specific Products
Increasing Affluence of the Ballooning Middle Class Population
GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/mntb97
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