Global Functional Chewing Gums Market is valued approximately at USD 1.52 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9% over the forecast period 2021-2027. Introduction of new products with health benefits, growing popularity of smoking cessation chewing gums and innovative marketing strategies implemented by the market players are driving the market towards growth. For instance, in 2019, Hemptown USA launched a functional chewing gum that contains 15 milligrams of cannabidiol and 5 grams of cannabigerol. These chewing gums are mint flavored. Similarly, in 2020, Blockhead launched a new product under their chewing gum portfolio named ‘screwing gum,’. Thecompnay has focused on its marketing, packaging, cheeky innuendos, and active presence on social media to attract many youngsters. Furthermore, preference for functional chewing gums in nicotine replacement therapy for quitting smoking habit is expected to drive the market in coming years. However, the market is expected to get hampered by high prices of functional chewing gums.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the regions taken into consideration for the regional analysis of the global Functional Chewing Gums. North America is the leading region across the world in terms of market share because the region witnessed some strategic movement by the market players in terms of marketing strategies, product launch and other. Whereas Asia Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to presence of a large youth population and rising prevalence of smoking habits among adults in the region.
Major market player included in this report are:
Aboafsite SA CV.
Gumlink Confectionery Company A/S
Lotte Confectionary Co. Ltd.
Think Products LLCd
The Hershey Co.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Smoking Cessation Chewing Gums
Oral Health Chewing Gums
Fitness & Well Being Chewing Gums
By Distribution Channel:
Hypermarkets & Supermarkets
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Functional Chewing Gums Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers