Chewing Gum Industry Market Research Now Available From IBISWorld

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Future prospects for the Chewing Gum Production industry are decidedly sweet. According to IBISWorld, the nation’s largest publisher of industry research, through 2016, the anticipated economic recovery, renewed consumer spending and confidence, and innovative product introductions will drive industry growth. The trend toward premium products is also expected to gain momentum over the next five years as consumers seek functional chewing gum products that address health and nutritional concerns. For this reason, industry research firm IBISWorld, has added a report on the US Gum Production Industry to its growing Food Production report collection in the United States.

IBISWorld Market Research

IBISWorld Market Research

Constant new product introductions and the ability to respond to changes in consumer trends have caused the chewing gum industry to become significantly more lucrative

Future prospects for the Chewing Gum Production industry are decidedly sweet. According to IBISWorld, the nation’s largest publisher of industry research, through 2016, the anticipated economic recovery, renewed consumer spending and confidence, and innovative product introductions will drive industry growth. The trend toward premium products is also expected to gain momentum over the next five years as consumers seek functional chewing gum products that address health and nutritional concerns. For this reason, industry research firm IBISWorld, has added a report on the US Gum Production Industry to its growing Food Production report collection in the United States.

According to IBISWorld, while chewing gum sales remained strong against a crippling recession, the resurgence in consumer spending and confidence will shift demand toward premium products, like sugarless gum. In addition new products that highlight the health benefits of chewing gum, like dental and oral hygiene, are expected to continue debuting over the year.

The US Gum Industry has a high level of market concentration, which is primarily a result of an increase in acquisitions, along with organic growth for a majority of major players engendered by continued product innovation, strong brand loyalty and aggressive marketing. Major chewing gum players include Mars Inc, The Hershey Company and Kraft Foods. Mars Inc, which owns The Wrigley Company, produce some of the world's most recognizable chewing gum brand names such as Juicy Fruit, Big Red, Wrigley's Spearmint, Eclipse, Airwaves, Extra and Orbit. The Wrigley Company is embracing packaging improvements that promote convenience and eco-friendly attributes as they target the adult market. The Hershey Company which owns Bubble Yum began as the Lancaster Caramel Company, founded in Pennsylvania during the late 19th century. Cadbury PLC, which was acquired by Kraft Foods in July 2010, houses the Dentyne and Bubbilicious brands.

According to IBISWorld analyst, Mary Nanfelt, potentially threatening industry growth, however, is the increased availability of healthy alternatives, such as substitute snack foods, fruit and nut bars and cereals. “In response, producers are expected to use higher quantities of sugar-free alternatives in their product mix to mitigate the unhealthy perception of their products,” says Nanfelt. As manufacturers adjust their product offerings to satisfy consumer tastes, revenue is projected to increase. "Constant new product introductions and the ability to respond to changes in consumer trends have caused this segment to become significantly more lucrative,” says Nanfelt.

For more information, download the full report from IBISWorld on the Chewing Gum Industry

IBISWorld Industry Market Research Reports Contain:

About this Industry
Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets
Supply Chain
Products & Services
Major Markets

Globalisation & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

Major Companies

Operating Conditions
Capital Intensity

Key Statistics
Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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James Karklins
IBISWorld
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