Chewing gum is a soft, cohesive substance which is non-digestible and water insoluble in nature. Earlier, they were made with various tree saps including the latex sap of the sapodilla tree. Whereas, in the modern era, chewing gums are produced with different sweeteners, flavours, gum base, softeners, colours along with other ingredients. The texture of a chewing gum is similar to rubber owing to the physical-chemical properties of its plasticiser, resin and polymer components. These components result in the sticky, elastic-plastic and chewy attributes of a chewing gum. According to the latest report by IMARC Group, titled “Chewing Gum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global chewing gum market reached a value of US$ 21.9 Billion in 2018.
Chewing gums exhibit various stress relieving properties which act as a major factor driving the growth of the market. Additionally, impulse purchasing and the inclination of consumers towards products which offer dental benefits are also contributing to an augmented demand for chewing gums. Moreover, manufacturers are adopting various marketing strategies in order to interest young generation which include introduction of new flavours, shapes, sizes and attractive packaging. Looking forward, the market value is projected to reach a value of US$ 26.3 Billion by 2024, expanding at a CAGR of 3.1% during 2019-2024.
This report provides a deep insight into the global chewing gum market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the chewing gum market in the manner.
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