The Chewing Gum Base Market Is Expected To Grow At A Cagr Of 3.0% During The Forecast Period (2023-2030).
Chewing Gum Base Market Overview:
Chewing gum is a soft, sticky recreational candy that needs to be chewed rather than swallowed. Some chewing gums are designed to expand in the mouth and are called bubble gums. Apart from being consumed as a delightful confectionary, it also provides various health benefits such as carbohydrates, minerals, etc. According to the American Dental Association, chewing gum can prevent tooth decay. Additionally, properties such as the absence of cholesterol and saturated fat make gum an ideal and well-vetted snack. At the same time, chewing gum helps to burn calories due to chewing, improves cognitive health, and reduces stress, thereby keeping a person healthy, which is actively driving its market growth. Chewing gum base is the main component of chewing gum, and together with other ingredients such as food coloring, sweetener, and essence, endow chewing gum with the above-mentioned chewable characteristics due to chewing characteristics.
Chewing Gum Base market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Chewing Gum Base market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In January 2017, Ingredion acquired TIC Gums Inc. in a $400 million cash deal. TIC Gums Inc. is a leading manufacturer of advanced texturing systems for the food and beverage industry. This will further expand the chewing gum base market as Ingredion operates globally.
- October 2013: Cafosa, a major chewing gum base manufacturer, achieved a major focus on reducing its carbon footprint by identifying opportunities to improve management of resource consumption and reduce water and energy use in production. Additionally, waste management is improved by not sending waste to landfills in line with the company's environmental awareness policy. These results encourage us to continue to have an impact on the community, and negative environmental impacts may be reduced in the future.
Major Segments Covered in the Global Chewing Gum Base Market:
Market Key Players:
Boc Sciences, Wacker, Dalian Haiyi International Cooperation Co., Ltd, Haihang Industry Co., Ltd., Neostar United Industrial Co., Ltd., Angene International Limited, Zhejiang J&C Biological Technology Co., Limited, Wuxi Liujinji Gumbase Co., Ltd., And Others.
Chewing Gum Base Market by Types:
- Natural Ingredient
- Synthetic Ingredient
Chewing Gum Base Market By Form
Chewing Gum Base Market By Source
- Acacia tree
- Carob tree
- Cluster bean
- Red Seaweed
- Fruit Peel
Chewing Gum Base Market by Applications:
Chewing Gum Base Market by Regions:
The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.
Europe is likely to hold a major market share owing to consumers shifting towards sugar-free and wholesome snacks. According to the International Diabetes Federation (IDF), nearly 59 million people in the region suffered from diabetes in 2019, which has led consumers to switch to sugar-free chewing gum, thus positively impacting the growth of the regional chewing gum market.
Asia Pacific is expected to witness substantial growth in the coming years due to the presence of a large millennial consumer base and their widespread consumption of chewing gum. Countries such as India and China are major potential markets in the region. Additionally, manufacturers are launching new functional chewing gums with added vitamins and minerals, providing nutritional and health benefits, which is expected to drive the regional market.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
The demand for chewing gum base is increasing owing to the surging demand for chewing gum. The increase in demand for chewing gum is mainly attributed to the health benefits of chewing gum such as stress relief, improved oral hygiene, and improved concentration. Moreover, other factors contributing to the increase in the demand for chewing gum are the range of flavors and colors that mainly appeal to teenagers and children. The growing popularity of artisan confectionery across various countries is responsible for the growth in demand for the chewing gum base market.
Chewing gum bases mostly use synthetic rubber such as polyethylene and polyvinyl acetate instead of natural rubber to keep the fragrance lasting and improve the texture. These synthetic materials are plastic and therefore a source of pollution. Therefore, chewing gum bases derived from natural resources are in increasing demand in the chewing gum industry. Some companies have opted for the age-old practice of using chicle or tree sap as a gum base as a suitable, healthier and environmentally friendly alternative. Chewing gum bases derived from natural sources are simple, healthy and non-GMO, meeting the current consumer demand for healthy products.
However, chewing gum contains some additives that have adverse health effects and are the major restraints for the growth of the chewing gum base market. Added antioxidants, such as butylated hydroxytoluene, are added as food preservatives to prevent fat from spoiling. The chemical's use is controversial because some animal studies suggest it can cause cancer.
Report Scope of Global Chewing Gum Base Market:
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of the Chewing Gum Base market?
The Chewing Gum Base Market is growing at a CAGR of 3% During the Forecast Period.
What are the key types and applications of the Chewing Gum Base market?
- Natural Ingredient, Synthetic Ingredient, By Form (Blocks, Pellets, Sheets), By Source (Acacia tree, Carob tree, Cluster bean, Red Seaweed, Fruit Peel, Other)
- Food, Confectionery, Candy, Pharmaceutical, Clinical
Who are the key players in the Chewing Gum Base market?
Boc Sciences, Wacker, Dalian Haiyi International Cooperation Co., Ltd, Haihang Industry Co., Ltd., Neostar United Industrial Co., Ltd., Angene International Limited, Zhejiang J&C Biological Technology Co., Limited, Wuxi Liujinji Gumbase Co., Ltd., And others.
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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.