APAC to Emerge as the Largest Functional Chewing Gum Market
Arizton’s recent research report on the global functional chewing gum market identifies Mars Incorporated, MONDELĒZ International, INC, Perfetti Van Melle, Lotte, and The Hershey’s Company as the leading vendors that are likely to dominate the market during the forecast period. The report provides a detailed analysis of market segmentation by products (nicotine, oral, dietary, and lifestyle), distribution channels (online and offline), and geography (North America, Europe, Latin America, MEA, and APAC).
The global functional chewing gum market is likely to reach around $10 billion by 2024, growing at a CAGR of approximately 4.5% during 2018–2024.
In 2018, the oral health functional chewing gum market was estimated at around $2 billion and expected to grow significantly by 2024. The increasing consciousness about appearances in social gatherings has boosted the demand for breath freshening and teeth whitening oral care products. Several global chewing gum brands have introduced functional chewing gums with added oral health benefits such as Orbit, Airwaves, Doublemint, Trident, Vivident, and Happydent White. CONFADENT Oral Technology has introduced a functional chewing gum for oral care, which helps in whitening teeth, preventing plaque and gingivitis, and freshening the breath. Geographically, the APAC region accounts for the largest market for oral health functional chewing gums. The presence of a wide population of smokers in the region is the primary growth factor in the region.
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The market research report includes detailed market segmentation by products, distribution channels, and geographies.
Growing Penetration of Smartphones boost Online Functional Chewing Gum Products
Online channel is emerging as major distribution channel in the functional chewing gum market. The high penetration of the internet and smartphones has fuelled online shopping worldwide. Online shopping websites provide a wide range of products with lucrative offers and discounts, which are attracting several buyers globally. Hence, manufacturers are focusing on increasing the online sale of chewing gums by implementing several online marketing strategies, which are expected to drive the global functional chewing gum market.
High Presence of Large Smoking Population is Expected to Drive the APAC Functional Chewing Gum Market
The APAC accounted for the largest market in the global functional chewing gum market and is expected to grow at a CAGR of around 3.5% during the forecast period. The presence of a large youth population in the region and the growing number of diabetic patients in India and China are primarily driving the APAC functional chewing gum market. Several global and local players are operational in the region. However, the introduction of innovative functional chewing gums with medical benefits is likely to open new opportunities for new players, thereby increasing the market share during the forecast period.
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Other prominent vendors are Cloetta, Khloros, Lemon Pharma, Functional gums S.R.L, Ezaki Glico, Masterfoodah, Per Os Bio, Meiji Holdings, Project 7, SmartGum, Wugum, Ragolds, Think gum, Retrobrands USA LLC, Omega Pharma, GlaxoSmithKline, Cipla, Fazer, and Fertin Pharma.
The complete overview of the latest market research report on the global functional chewing gum market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.
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