Global Gums Market to Reach US$23.1 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive global report on the gums markets. The global market for gums is forecast to reach US$23.1 billion by the year 2017, buoyed by growing demand for medicated and sugar free gum products, particularly from the growing tribe of health conscious consumers. In addition, factors such as product innovations, enhanced taste and flavors, efficient distribution and huge product promotion campaigns are expected to provide a strong platform for augmenting gums demand. Besides, development of value-added gum varieties such as nutraceutical gum and biodegradable gum with health and environmental benefits expand traditional market frontiers, enabling sound growth in the foreseeable future.

Gums: A Global Strategic Business Report

Follow GIA on LinkedIn – The highly concentrated and relatively mature gum market is undergoing a major transition from a pleasurable product to a medicated and value-added product. Manufacturers are aggressively competing with each other to increase their market presence. Besides, companies are constantly introducing innovative products to meet the ever-changing needs of consumers. The gum industry witnessed a low phase until the emergence of sugarless gum products, which played a major role in the resurgence of the chewing gum market. Over the years, the gum industry traditionally inclined towards the children and youth population, witnessed a demographic shift in favor of adult consumers. Swiftly aging population, higher buying propensity and sluggish growth in kids’ category is prompting the development of more adult-specific products such as functional and medicated gums.

Gum makers developed a suite of packaging forms to meet the needs of all groups, such as flashy packs for kids, stylish packaging for Gen-X and blister packs for health conscious consumers. Innovative packaging plays an imperative role in the success of the product. Novel and attractive packaging makes the shelf presence of product distinctive from similar bulk gum products. Gum sales are largely dependent on impulse behavior, and manufacturers encourage sales by merchandizing their products through all the possible conventional and non-conventional channels. These products are usually placed close to checkout counters, cash registers, or at any front-end places in department stores, super markets, retail and specialty stores in order to attract the attention of customers during the final checkout process. In addition, gums are also offered at high-traffic points such as floor displays, endcaps, and gondolas to satisfy demand of customers even on the move.

Gums market is highly concentrated and fiercely competitive in structure and alignment. Continuous product innovation is the only key to improve sales opportunities and to remain competitive in the market. An important development in the global gum market in recent times is the new and transformed functionality of gum. As against its previous purpose of merely being a pastime and a pleasure giving product, gum is now acquiring a new role and emerging as a product that provides various functional and value added benefits. Gum manufacturers are revamping bubble gums to breathe new life into the segment and give a new look, which appeals to kids and youth population. From delivering targeted medications to improving memory power, gum is widely being touted as a medium for delivering various medicinal properties to the human body. Similarly, in response to the growing health concerns worldwide particularly among the adult population, novel gum products are emerging to offer various dental and health benefits such as curing ear infections, soothing ulcers, fighting cavities, in addition to whitening and strengthening teeth. As consumers are becoming more health and calorie conscious, surge in sugarless and medicated gums are expected to continue in future. Further, strong flavored value-added pellet gums are likely to add fuel to the chewing gum growth. Nutraceutical gum is poised to play a major role in expanding the worldwide gum market. Manufacturers are developing gums incorporated with several health and dental benefits. The market is also abuzz about development of an environment friendly, biodegradable gum, which does not compromise on the basic taste, texture and flavor.

The United States traditionally represents the largest regional market worldwide, as stated by the new market research report on Gums. The highly developed and competitive gums market in the US is the best performing segment within the candy market, with chewing gum an all-time favorite among US consumers. The relatively unexplored Asia-Pacific market with majority of young population, increasing urbanization and spending power, and vast potential in developing markets of India, China and Taiwan among others is primed to exhibit the fastest CAGR of 5.7% through 2017.

The Chewing Gum segment constitutes the largest as well as fastest growing product segment, surging ahead at a CAGR of 4.9% through 2017. A large portion of the chewing gum market growth is driven by sugarless gums and strong flavored value-added pellet gums. Chewing gum, which is a pleasurable, impulse driven purchase is rapidly moving towards functionality, with new and innovative uses of gum keep the market alive and dynamic. On the other hand, in an effort to rejuvenate sales in the sagging Bubble Gum category, manufacturers are developing new textures, flavors, and center fillings, along with innovation in size and product forms.

Major players profiled in the report include Ferndale Confectionery Pty Ltd., Haribo GmbH & Co. Kg, Kraft Foods Inc., Mars Incorporated, Perfetti Van Melle, The Hershey Company, The Wm. Wrigley Jr. Company, and ZED Candy.

The research report titled “Gums: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Gums markets, current market trends, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Gums market for the years 2009 through 2017 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key product segments analyzed include Chewing Gum and Bubble Gum. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Gums_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Follow us on LinkedIn

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website