GIA declares the availability of a complete global report on the gums markets. According to a forecast, the global market for gums will reach US$23.1 B by the year 2017.
The increase in market is due to the rising demand for medicated and sugar-free gum products by consumers interested in health.
The gum market is experiencing a major transition from being an attractive product to being a medicated and beneficial product. The gum industry was triggered since the introduction of sugarless gum products, which revived the markets for chewing gum. Earlier, the gum industry was concerned with the children and youth. However, it is now inclined towards adult consumers, increasing development of more products for adults like medicated gums.
Gum manufacturers have innovated different kinds of packaging configurations for the diverse categories including classy packaging for Gen-X, flashy packs for kids, and blister packs for health-specific consumers. The success of product marketing is also based on innovative packaging. Attractive packaging makes the product outstanding, and the attention is further increased by placing the product near cash registers, checkout counters in super markets and department stores. Gums are also being sold at gondolas, floor displays, and endcaps.
The alteration in the functionality of gum has created a hike in the global gum market. In the past years, gums were considered as pastime, but now due to its value added benefits, it is considered as a curing aid. Health and dental benefits of gums include whitening and strengthening teeth, improving memory power, curing ear infections, soothing ulcers, and fighting cavities. Highly demanded gum products include strong flavored value-added pellet gums, sugarless and medicated gums, nutraceutical gum and eco-friendly and biodegradable gums with integrated health and dental benefits.
The United States represent the largest regional gum market, globally. However, Taiwan, India, and China will show CAGR of 5.7% through 2017. The Chewing Gum segment represents a CAGR of 4.9% through 2017.
Source: http://www.strategyr.com/