LONDON–(BUSINESS WIRE)–The global functional chewing gum market size is expected to grow by USD 1.83 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 4%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on “Functional Chewing Gum Market Analysis Report by Product (Oral health gum, Nicotine gum, Weight gum, and Lifestyle gum) and Geography (APAC, Europe, North America, MEA, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by a strong distribution network. In addition, growing awareness about the benefits of functional chewing gum is anticipated to boost the growth of the functional chewing gum market.
The strong distribution network between manufacturers and retailers will be one of the key factors driving the growth of the functional chewing gum market. Manufacturers are establishing partnerships with online and offline distribution channels to cater to the growing global demand for functional chewing gum. These partnerships are aimed at providing easy availability of products to customers in online and offline channels, such as supermarkets, and hypermarkets, drug stores, convenience stores, specialty stores, and hard discount stores.
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Major Five Functional Chewing Gum Companies:
Functional Gums Srl
Functional Gums Srl has business operations under two segments: gums and sesame bars. The company offers functional chewing gums under the brand name Drive Gum.
Lotte Confectionery operates its business through two geographical segments: domestic and overseas. The company offers a wide range of functional chewing gums such as Xylitol, Xylitol Alpha, and others.
Mars Inc. has business operations under four segments: Mars Petcare, Mars Wrigley Confectionery, Mars Food, and Mars Edge. The company offers a range of functional chewing gums through its subsidiary, Mars Wrigley. This range includes 5 gum and Orbit.
Med CBDX operates its business through two segments: CBD Hemp Oil Lozenges and CBD Infused Chewing Gum. The company offers CBD infused hemp oil chewing gum.
Mondelez International Inc.
Mondelez International Inc. has business operations under various segments, such as Europe; Asia, Middle East, and Africa; North America; and Latina America. The company offers functional chewing gum through its brand, Trident.
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Functional Chewing Gum Product Outlook (Revenue, USD bn, 2020-2024)
- Oral health gum
- Nicotine gum
- Weight gum
- Lifestyle gum
Functional Chewing Gum Regional Outlook (Revenue, USD bn, 2020-2024)
- North America
- South America
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