Gum Confectionery Global Market Report 2024

The gum confectionery market size has grown strongly in recent years. It will grow from $32.05 billion in 2023 to $34.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth observed in the historic period can be credited to factors such as flavor innovation, effective marketing strategies, advancements in packaging, the establishment of brand loyalty, and the introduction of sugar-free and functional varieties.

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 anticipated growth in the forecast period can be ascribed to a consumer base increasingly focused on health, a heightened emphasis on sensory experiences, the effects of globalization and cultural fusion, a growing preference for sustainable practices, and ongoing innovations in ingredients. Prominent trends expected in the forecast period encompass the incorporation of functional and health-boosting ingredients, initiatives for sugar reduction and the use of natural sweeteners, the popularity of novelty and exotic flavors, the adoption of interactive and engaging packaging, and a rising demand for eco-friendly packaging and sustainable practices.

The gum confectionery market is anticipated to experience growth driven by the increasing sales of chewing gum. Chewing gum, a sweetened and flavored product meant for chewing without swallowing, is typically made from chicle and similar resilient substances. As chewing gums fall under the category of gum confectioneries, a rise in chewing gum sales directly correlates with an increased demand for the overall gum confectionery market. In March 2022, the National Confectioners Association reported a 13.8% increase in candy, gums, and mints sales, reaching $3.2 billion in 2022 compared to $3.1 billion in 2021. This surge in chewing gum sales is a key factor driving the gum confectionery market.

The growth of the gum confectionery market is expected to be fueled by growing urbanization. Urbanization, the process of people concentrating permanently in relatively small areas such as cities, results in higher population density in urban areas, providing a larger consumer base for confectionery products, including gum. The accessibility and convenience of urban areas make it easier for consumers to access and purchase confectionery products, contributing to increased demand. As of October 2022, around 4.4 billion people, or 56% of the global population, reside in cities, with predictions indicating that by 2050, nearly 7 out of 10 people will live in cities. This ongoing trend of urbanization is a significant driver for the gum confectionery market.

A notable trend in the gum confectionery market is the focus on product innovation by major companies. These companies are actively developing innovative solutions to strengthen their market position. For example, in December 2022, Perfetti Van Melle introduced Mentos Citrus Vitamin Gum, a sugar-free gum containing 25% of the recommended daily amounts of vitamins B6, C, and B12, with a liquid-filled center for long-lasting freshness. This emphasis on innovation is a key factor influencing the gum confectionery market.

Major players in the gum confectionery market are also placing a strong focus on introducing natural products, including non-added sugar and vegan gummies, to gain a competitive advantage. Vegan gummies, which are free from animal-derived ingredients, cater to the preferences of individuals following a vegan lifestyle. For instance, Simply Gum launched Simply Candy in January 2022, a clean-label, all-natural gummy made with real fruit, devoid of added sugar, and completely vegan. This approach aligns with the market demand for natural and sustainable confectionery products.

In December 2021, The Humble Company acquired True Gum for an undisclosed amount, marking a strategic move to strengthen and expand True Gum's international market presence. True Gum, a Denmark-based plant-based business, specializes in plastic-free, sugar-free, and biodegradable chewing gum. This acquisition combines the resources of both companies to deliver modern FMCG (fast-moving consumer goods) products globally, reflecting the market's shift towards eco-friendly and sustainable choices in gum confectionery.

Major companies operating in the gum confectionery market report are Perfetti Van Melle Pvt. Ltd., Mars Incorporated, Lotte Confectionery Co. Ltd., Mondelez International Inc., Grenades Gum LLC, Cloetta AB, The Hershey Company, Ferrero International S A, Gumlink Confectionery Company A S, Haribo GmbH & Co KG, FERNDALE CONFECTIONERY PTY. LTD., Tootsie Roll Industries Inc., Meiji Holdings Co. Ltd., Grupo Arcor, Zed Candy B.V., The Kraft Heinz Company, Yildiz Holding A.S., Chupa Chups SA, Peppersmith, The PUR Company Inc., Project 7, Simply Gum, Trident Limited, Extra Gum, Wrigley Company, Big League Chew, Mentos, Trolli GmbH, Skittles, Xylichew.

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. The countries covered in the gum confectionery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are two main types of gum confectionery, sugared gum and sugar-free gum. Sugared gum is a sweetened product intended for chewing, crafted from materials such as chicle and other robust ingredients. This type of gum is available in various forms, including sticks or tabs, pellets or pillows, and liquid-filled gum. These products are typically distributed through supermarkets or hypermarkets, specialty stores, e-commerce platforms, and other retail outlets.

The gum confectionery market research report is one of a series of new reports that provides gum confectionery market statistics, including gum confectionery industry global market size, regional shares, competitors with gum confectionery market share, detailed gum confectionery market segments, market trends, and opportunities, and any further data you may need to thrive in the gum confectionery industry. This gum confectionery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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