The gum confectionery market size is expected to see strong growth in the next few years. It will grow to $42.91 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to health-conscious consumers, sensory experiences, globalization and cultural fusion, sustainable practices, innovations in ingredients. Major trends in the forecast period include functional and health-boosting ingredients, sugar reduction and natural sweeteners, novelty and exotic flavors, interactive and engaging packaging, eco-friendly packaging and sustainability.
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Segmentation & Regional Insights
The gum confectionery market covered in this report is segmented –
1) By Type: Sugared Gum, Sugar-Free Gum
2) By Form: Sticks Or Tabs, Pellets Or Pillows, Liquid Filled Gum, Other Forms
3) By Distribution Channel: Supermarket Or Hypermarket, Specialty Stores, E-Commerce, Other Distribution Channels
Asia-Pacific was the largest region in the gum confectionary market in 2023. The regions covered in the gum confectionery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing sales of chewing gum are expected to propel the gum confectionery market going forward. Chewing gum refers to a sweetened and flavored preparation for chewing without swallowing. It is made from chicle and similar resilient substances and chewed for its flavor. Chewing gums are types of mouth-refreshing gum confectioneries made using the base of gum confectioneries, so an increase in chewing gums will result in an increased demand for the gum confectionery market. For instance, in March 2022, according to a report shared by National Confectioners Association, a US-based trade organization that promotes chocolate, candy, gum and mints, Candy, gums, and mints sales increased 13.8% in 2022 to $3.2 billion, up from $3.1 billion in 2021. Therefore, the increasing sale of chewing gum is driving the gum confectionery market.
Key Industry Players
Major companies operating in the gum confectionery market are focused on introducing natural products, such as non-added sugar and vegan gummies, to gain a competitive edge in the market. Vegan gummies are a type of gummy candy that is free from animal-derived ingredients, making them suitable for individuals following a vegan lifestyle. For instance, in January 2022, Simply Gum, a US-based natural confections brand, launched Simply Candy, a clean-label, all-natural gummy. The base of gummies is made of real fruit, which signifies that there is no added sugar and that it is completely vegan. This is a decadent treat that people can feel good about eating, and it gives a very different flavor and a very different chew due to its four simple ingredients, including dark chocolate, dates, roasted peanuts, and a small touch of sea salt.
The gum confectionery market report table of contents includes:
1. Executive Summary
2. Gum Confectionery Market Characteristics
3. Gum Confectionery Market Trends And Strategies
4. Gum Confectionery Market – Macro Economic Scenario
5. Global Gum Confectionery Market Size and Growth
…………………
31. Global Gum Confectionery Market Competitive Benchmarking
32. Global Gum Confectionery Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Gum Confectionery Market
34. Gum Confectionery Market Future Outlook and Potential Analysis
35. Appendix
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