Increasing demand for sliming chewing gums and sugarless gums likely to boost the global functional chewing gum market growth by 2024.
Arizton’s recent research report on the global functional chewing gum market provides a comprehensive industry study, trend forecasts, and competitive analysis. The study segments the market by products (nicotine, oral, dietary, and lifestyle), distribution (online and offline), and geography (North America, Europe, Latin America, MEA, and APAC).
The functional chewing gum market is likely to reach around $10 billion by 2024, growing at a CAGR of approximately 4.5% during 2018–2024.
The growing popularity of smoking cessation therapy, the demand for sliming chewing gums, the increasing demand for sugarless gums, and the introduction of innovative marketing strategies are expected to drive the global functional chewing gum market during the forecast period.
The leading three drivers and trends propelling the growth of the global functional chewing gum market are discussed below:
Sugar-free Chewing Gums are Gaining Popularity among Health-conscious Consumers
Sugar-free chewing gums cover more than half of the global chewing gum market in 2018. They help to maintain oral hygiene between meals as they aid in producing more saliva, which help in washing away food and other debris and neutralize acids produced by the bacteria present in the mouth.
Further, increased fitness and health consciousness among consumers are driving the consumption of low-calorie or sugarless products. Also, the rising incident of lifestyle diseases such as obesity and diabetes in both developed and developing countries is driving the market for sugar-free chewing gums worldwide. Some of the popular brands of sugar-free functional chewing gums are Trident, Epic dental, Orbit, Spry, and Lotte.
Innovative Products in Functional Chewing Gum Industry
Conventional chewing gums are primarily known as breath freshening confectionaries. They are continuously gaining market shares due to growing innovations. Vendors have introduced different varieties of chewing gums with unique flavors and added benefits such as sugarless varieties or gums with all-natural ingredients. For instance, WUGUM has introduced functional chewing gums, which help in speeding up the tanning process. They consist of Vitamin C, E, D3, Lycopene, and Beta carotene. Manufacturers also introduced sliming gums, which help in shedding weight. Thus, with such innovative elements being added to chewing gum manufacturing, it is expected to increase health benefits for consumers and drive the global functional chewing gum market.
Functional Chewing Gums Help to Reduce Anxiety and Increase Alertness
The number of people suffering from depression and anxiety has increased to 615 million in 2013 from 416 million in 1990. People often look for easy ways to relieve stress, and studies have suggested that chewing gums can increase alertness and attention. They reduce anxiety and prevent mood swings. Manufacturers have developed functional chewing gums with added ingredients to relieve stress. For instance, Drive Gum has energy booster ingredients, caffeine, and guarana, which help consumers to remain alert and awake and help increase concentration. Similarly, WUG Functional Gums, a Spanish manufacturer, has introduced energy gums containing caffeine, ginseng, and guarana and other ingredients that are ideally made for athletes that need high energy levels.
Mars Incorporated, MONDELĒZ International, INC, Perfetti Van Melle, Lotte, and The Hershey’s Company are the leading vendors in the global functional chewing gum market.
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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