Functional chewing gums have some added health benefits and ingredients that impart additional functions instead of traditional fresh-breathing function. Nicotine gums, oral health gums, weight management gums, and lifestyle gums are some of the most common types of functional chewing gum.
The global functional chewing gum market is expected to cross $9 billion, growing impressively at a CAGR of 4.7% during 2016−2022. The demand for functional chewing gum that have added vitamins and energy supplements is increasing in the market. However, the consumption of overall sugared chew gums is declining across the world. The demand for functional chewing gum is expected to increase exponentially during the forecast period.
Functional Chewing Gum Market at a Glance
The report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. It also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.
The global functional chewing gum market is dominated by a few global chewing gum manufacturers such as Mars, Mondelez, and Perfetti, which are leading vendors across the globe. On the other hand, there are many specialized, niche vendors who cater to a particular region. Many functional gum manufacturers are based in developed countries of North America and Europe. The report profiles the leading vendors and provides a complete value chain analysis of the electronic shelf label market. Strength, strategies and opportunities of major companies are discussed in the report. Other vendors include Cloetta, Khlôros Technologies, Lemon Pharma, Functional Gums s.r.l., Ezaki Glico, Meiji Holdings, Orion Group, Project 7, Masterfoodeh Co, Mastix, Vitaball Inc., and WUGUM.
Increased use of fat burning and anti-hunger gums are likely to drive the market growth
Increase in alertness and attention and reduction of anxiety offered by chewing gum are major factors, which are attracting customers towards functional gum. Growth in smoking population in developing regions and increased use of fat burning/slim and anti-hunger functional gums are among the other significant factors that are expected to drive the market during the forecast period. The study also discusses the latest trends that are going to push the market growth for the next five years. Introduction of innovative functional gums such as cancer detecting and health benefits, and the increase online retailing impacting the consumers purchasing decision are among the emerging trends that are going to shape the market positively during the forecast period. Fluctuation in pricing strategy and lack of regulations are some of the restraint that are going to affect the market. The report discusses the trends, drivers, restraints and their impact on the market. The report also provides Porter’s Five Force Analysis and their impact on the market.
The Nicotine gums segment is likely to be the largest segment
In terms of product type, the Nicotine gums segment is expected to have maximum contribution to the global market. These functional gums are getting more preference from the increased number of smokers who want to quit smoking. Also, the weight management gums are going to have the highest growth rate during the forecast period.
The revenue generated by the sale of functional chewing gum through physical stores or offline channels made up 93.14% of the market in 2016, clearly indicating that majority of consumers prefer to buy functional gum from physical stores. However, due to the growth of online retailing stores, the online channel is expected to post a high growth rate over the next five years.
APAC to constitute approximately 47% of the global market share
The market is dominated by APAC, followed by Europe and North America. The demand for lifestyle gum is expected to come more from North America and Europe than developing countries. The market in Latin America and MEA is also likely to get momentum. A chewing gum is considered as a fashion statement in the UAE, which is likely to impact the demand. Also, increasing health consciousness among people is expected to increase the demand for sugar-free chewing gum in the region.
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