Global Gum Confectionery Market Size, Drivers, Trends, Opportunities And Strategies – Includes Gum Confectionery Market Share
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Chewing gum sales are likely to stimulate innovation in gum confectionery manufacturing, propelling the market during the forecast period.
The global gum confectionery market is expected to grow from $29.47 billion in 2022 to $31.22 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The global gum confectionery market size is expected to reach $37.61 billion in 2027 at a CAGR of 4.8%.
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Global Gum Confectionery Market Segments Include:
- By Type: Sugared Gum, Sugar-Free Gum
- By Form: Sticks Or Tabs, Pellets Or Pillows, Liquid Filled Gum, Other Forms
- By Distribution Channel: Supermarket Or Hypermarket, Specialty Stores, E-Commerce, Other Distribution Channels
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global gum confectionery market in 2021.
Major Market Players in the gum confectionery market include Perfetti Van Melle, Mars Incorporated, Lotte Confectionery Co Ltd., Mondelez International Inc., Grenades Gum LLC, Cloetta AB, The Hershey Company, Ferrero International S A.
Product innovations are a prominent trend in the gum and confectionery industry. To strengthen their position in the gum confectionery business, major corporations are focusing on providing novel solutions. For example, in December 2022, Perfetti Van Melle, a Dutch confectionary and chewing gum maker and distributor, will offer “Mentos Citrus Vitamin Gum.” It is sugar-free, includes 25% of the daily necessary levels of vitamins B6, C, and B12, and has a liquid-filled centre for long-lasting freshness. It has a strong citrus flavour profile that will leave your taste buds buzzing chew after chew.
The Gum Confectionery Global Market Report 2023 provides a gum confectionery market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The gum confectionery market forecast analyzes gum confectionery market size, gum confectionery market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Gum candy is a sweetened and flavoured insoluble material that is intended to be chewed in order to release active and/or inert components. It is often used to protect teeth and decrease bad breath.
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