Global Gum Market 2017-2021

New Report Released: - Global Gum Market 2017-2021

The author of the report recognizes the following companies as the key players in the global gum market: Mars, Mondelez International, Perfetti Van Melle, and Lotte.

Other Prominent Vendors in the market are: Arcor, Verve (Glee Gum), The PUR Company, Peppersmith, Focus Nutrition, Xlear, Cloetta, Colombina, EZAKI GLICO, Ferrara Candy Company, Meiji Holdings, MORINAGA & CO, and Hershey.

Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is Growing demand for functional gums. Consumers (especially in developed markets of the US, Germany, the UK, and others) are more aware of the health aspects of vitamins, minerals, calcium, and other nutrients owing to mass media coverage. Some consumers are health bloggers who have a broader idea of health-associated issues and current food and beverage trends in the market. The increasing inclination of consumers toward leading a healthy lifestyle has increased the overall demand for products with healthier attributes. Thus, ingredient suppliers are formulating functional ingredients to supply them to players who develop functional products.”

According to the report, one of the major drivers for this market is New product launches. Factors such as new product development, refined taste, and versatility, along with improved levels of marketing support are increasing the overall demand for gums. Thus, several players are currently launching gums with new product formulations to expand their portfolios.

Further, the report states that one of the major factors hindering the growth of this market is Decline in smoking rates impacting the consumption of gums. In the US, the overall sales volume of cigarettes has declined considerably due to toughening of regulations on tobacco. For instance, in the US, a total of 30 states (To name some: Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Iowa, Kansas, and others) have passed smoke-free laws in public places, including restaurants and bars. Also, many public awareness programs and campaigns are urging people to quit smoking.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.