Sugar-Free Chewing Gum Market Report 2023: Sector to Reach $26.67 Billion by 2032 at a 6.9% CAGR

Sugar-Free Chewing Gum Market Report 2023: Sector to Reach .67 Billion by 2032 at a 6.9% CAGR

DUBLIN, Feb. 24, 2023 /PRNewswire/ — The “Sugar-Free Chewing Gum Market Share, Size, Trends, Industry Analysis Report, By Flavor Type (Spearmint, Peppermint, Fruit flavor, Others); By Application; By Region; Segment Forecast, 2023-2032” report has been added to  ResearchAndMarkets.com’s offering.

The global sugar-free chewing gum market size is expected to reach USD 26.67 billion by 2032, according to a new study by the publisher. The report gives a detailed insight into the current market dynamics and provides analysis on future market growth.

The gum market has expanded rapidly in recent years. The growing wellness society, as well as the increased incidences of dental decay caused by excessive sugar consumption, have raised the interest in sugar-free chewing gum.

Other factors projected to promote the growth of the worldwide sugar-free chewing gum industry include regular product improvements, such as the launch of novel flavors, and a thriving organized retail sector. Unique advertising strategies are also boosting industry growth.

Most of the products are sold via convenience stores followed by hyper and supermarkets. However, Sugar-free chewing gum sales in traditional stores are likely to stay flat due to increased purchases from internet portals. Furthermore, internet channels give the ease of purchasing things from the comfort of one’s own home and a vast range of products.

Asia-Pacific is the most profitable market for makers of sugar-free chewing gum. Rising consumer awareness of the advantages of such gum, as well as increased investment by manufacturers in the region’s emerging nations, are a few of the factors fueling the expansion of the region. With easy product availability for consumers, the growing organized retail sector is contributing to market growth.

Chewing gum has several benefits ranging from breath refreshing to functioning as a pleasant method to consume vitamins and medication. To increase these chewing gum functionalities, however, a better comprehension of chewing gum components and processes is essential.

Market Dynamics

Drivers and Opportunities

  • Increasing Obesity and Diabetes Among the Population
  • Rising Health Consciousness

Restraints and Challenges

  • High Prices as Compared to Conventional Chewing Gums

Sugar-Free Chewing Gum Market Report Highlights

  • North America garnered the largest revenue share. This dominance is primarily due to the presence of well-established players and significant innovations in the industry
  • By flavor type, peppermint flavor is projected to dominate the market with spearmint being the fastest growing.
  • By application, convenience stores hold the majority share owing to major consumer visit post lockdown and the selection of sugar-free chewing gums owing to changes in lifestyle which requires healthy gums and mouth.
  • Global market includes Mars Incorporated, Health Made Easy, Ferndale Confectionery, Ferrero, Verve Inc, and Kraft Food.

The publisher has segmented the Sugar-Free Chewing Gum market report based on Flavor Type, Application, and region:
Sugar-Free Chewing Gum, Flavor Type Outlook (Revenue – USD Billion, 2019 – 2032)

  • Spearmint
  • Peppermint
  • Fruit Flavor
  • Original Bubble Gum

Sugar-Free Chewing Gum, Application Outlook (Revenue – USD Billion, 2019 – 2032)

  • Hypermarket/Supermarket
  • Convenience Stores
  • Specialist Stores
  • Online Retail
  • Others

Sugar Free Chewing Gum, Regional Outlook (Revenue – USD Billion, 2019 – 2032)

  • North America
  • U.S
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Report Attribute

Details

No. of Pages

118

Forecast Period

2023 – 2032

Estimated Market Value (USD) in 2023

$14.67 Billion

Forecasted Market Value (USD) by 2032

$26.67 Billion

Compound Annual Growth Rate

6.9 %

Regions Covered

Global

Companies Mentioned

  • Ferndale Confectionery Pty Ltd (Australia)
  • Ferrero SpA (Italy)
  • Verve Inc. (US)
  • Kraft Foods Inc (US)
  • Haribo GmbH & Co. Kg (Germany)
  • The Wm. Wrigley Jr. Company (US)
  • Topps Company Inc. (US)

For more information about this report visit https://www.researchandmarkets.com/r/epq8yq-free?w=5

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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SOURCE Research and Markets

Originally published at https://www.prnewswire.com/news-releases/sugar-free-chewing-gum-market-report-2023-sector-to-reach-26-67-billion-by-2032-at-a-6-9-cagr-301755651.html
Images courtesy of https://pixabay.com

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