The functional chewing gum market is projected to grow from $7.0 billion in 2016 to $9.3 billion by 2022, growing at a CAGR of 4.79% during the forecast period.
Arizton’s recent market research report on the functional chewing gum market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product type (nicotine gum, oral health gum, weight management gum, and lifestyle gum), distribution channels (offline and online), and geography (APAC, Europe, Latin America, MEA, and North America).
The introduction of chewing gums that have added ingredients and offer health benefits is driving the growth of the global functional chewing gum market. Rapid urbanization and increased per capita income in emerging countries will propel the demand for functional chewing gums in the global market. Additionally, the growth of online channels of distribution will help vendors market and distribute their products to a large consumer base and aid in increasing their market share.
The leading three drivers and trends driving the global functional chewing gum market are discussed below:
Growth in Smoking Population in Developing Regions
The rise in the number of smoking population in developing and developed countries is driving the demand for nicotine chewing gums in the global functional chewing gum market. Several initiatives undertaken by government and non-government organizations that highlight the numerous health complications associated with smoking are boosting the demand of functional chewing gums in the market. The rising awareness about hazardous side-effects of smoking such as chronic obstructive pulmonary disease (COPD), cardiac diseases, asthma, and lung cancer can be attributed to the rise of the nicotine gums market in several developing countries. The introduction of nicotine gums, nicotine patches, and other types of smoking cessation products will create new opportunities for vendors in the global functional chewing gum market over the next few years.
Increased Use of Fat Burning/Slim and Anti-Hunger Functional Gums
The increase in deaths due to obesity increased from 41.9 deaths per 100,000 population in 1990 to 53.8 deaths per 100,000 population in 2016.
The growing awareness about the health risks and diseases related to obesity is fueling the demand for functional chewing gums. The introduction of special functional chewing gums that have added ingredients which help to curb hunger, reduce fat, and reduce weight in consumers will help manufacturers gain a large market share in the global functional chewing gum market during the forecast period. These chewing gums help provide essential ingredients to keep end-users healthy without adding calories and assist with weight management.
Introduction of Innovative Functional Gums
The launch of a variety of chewing gums in various flavors with additional health-benefitting ingredients is driving the growth of the global functional chewing gum market. The introduction of functional chewing gums with health benefits will help vendors gain a larger consumer base and higher market share over the next few years. For instance, WUGUM has introduced a variety of functional chewing gums in the global market. It launched a functional gum that contains Vitamin C, E, D3, Lycopene and Beta-carotene that helps speed up the tanning process.The addition of such innovative ingredients that can increase health benefits will contribute to the development of the global functional chewing gum market.
Mars Incorporated, Mondelez International Inc, and Perfetti are the leading vendors in the functional chewing gum market.
The complete overview of the latest market research report on the functional chewing gum market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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