The chewing gum segment, the fastest growing segment of confectionery industry is growing at a CAGR of approximately 7% for past few years due to mouthful of benefits. It is said to relieve stress, helps in weight management, increases alertness and focus. All these factors result in the increasing demand of chewing gum in people of every age group.
With increasing health concern, consumers are shifting toward low calorie products which in turn will drive the growth of artificial and natural sweetener market which will increase the demand of sugar free gum and in turn the complete chewing gum industry will grow. The confectionery manufacturers are trying to tap this opportunity by providing the consumers sugar free gum in many different flavors and colors.
Innovation in chewing gum is another important driver of this industry. Different flavors, flexibility and variety in gum attract the consumers and the current trends suggest consumers prefer gum with natural colors and avoid usage of synthetic and azo colors.
The present report offers an analysis of the confectionery market with a special focus on the global chewing gum market. It also discusses major market trends, growth drivers, and major challenges faced by the chewing gum industry. The report also presents the competitive structure of the industry and profiles major players in the confectionery industry.
Further, we have predicted the future growth of the global chewing gum market size by combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings. We employed various significant variables that have an impact on this industry and created regression models with SPSS to determine the future direction of the industry.
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