COVID-19 Impact Analysis on Global Sugar-Free Chewing Gum Market
The COVID-19 pandemic has hit a majority of the fortune companies, out of which many food and beverage companies were hit due to severe disruption in the supply chain. The outbreak of COVID in the sugar-free chewing gum market caused distribution, since it spread across the globe. COVID-19 impacted various sectors and industries. Due to the pandemic COVID-19, lockdown and the restriction disrupted the supply chain of the sugar-free chewing gum market. Furthermore, increasing challenges for manufacturers in the sugar-free chewing gum market. Higher competition, pricing and changing consumer preferences are creating more competition in the market. Numerous companies have announced possible delays in product deliveries and a decline in sales of their products. The changes in consumer behavior and demand during the pandemic impacted on the value chain in the food and beverage industry. Due to transportation barriers, sugar-free chewing gum market demand is reduced. The export of products has been reduced due to emerging concerns about the spread of the COVID-19 pandemic.
Market Overview- Global Sugar-Free Chewing Gum Market
Market Drivers
The rising prevalence of obesity, diabetes and dental concerns among the population is boosting the demand for the sugar-free chewing gum market. The population across the globe is becoming conscious of the product they consume, due to which the demand for a functional and medicated sugar-free chewing gum market is growing. The sugar-free chewing gum market is best for dental health, which boosts the market growth. The growing health problem due to sugar and increased lifestyle diseases such as heart disease and diabetes have pushed people to prefer healthy alternatives like sugar-free chewing gum products. Additionally, the chewing gum is also used for targeted nutritional needs of both adults and children and is one of the major factors which further help to grow sugar-free chewing gum market.
Market Restraints
The continuous use of chewing gum puts stress on the jaw that can cause to Temporomandibular Joint disorder (TMj) which can further cause migraine, is a major factor hindering the market growth. Furthermore, according to the pediatric neurology, daily gum a chewer has a headache problem. This factor hampers the market growth.
Market Opportunities
The demand for chewing gum is growing with demand for various flavors and the innovative unique format of sugar-free chewing gum is a major factor creating an opportunity for the market. Moreover, the consumer change toward sugar-free products due to the concern about diabetes and sugar-related diseases increases the demand for the sugar-free chewing gum market.
Market Growth Challenges
The variation in pricing strategy and lack of regulation impacted on the market growth. Besides, the negative side effect of chewing gum is some factors hindering the market growth.
Cumulative Growth Analysis
The report provides in-depth analysis of global mezcal market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The rising prevalence of obesity, diabetes and dental concerns among the population is expected to witness the sugar-free chewing gum Market growth at a specific CAGR from 2022-2028.
Market Segmental Overview
The global sugar-free chewing gum market comprises of different market segment like flavor, distribution channel, and geography.
Sugar-Free Chewing Gum Market by Flavor
The flavors studied in the global sugar-free chewing gum market are, mint, bubble gum, fruit flavor, cinnamon & others. The mint flavor accounted for the largest share in the global sugar-free chewing gum market. Mint-flavor chewing gum is most effective in soothing an upset stomach and nausea. Also, for the bad mouth odour it is the most consumed flavoured of sugar-free chewing gum. Companies are introducing new product flavours or incorporating natural ingredients to boost the sugar-free chewing gum market. The mint offers 100% xylitol mints and mint-flavor chewing gum help to keep teeth health. The mint gum with sugar-free gaining popularity among the health-conscious consumers.
Sugar-Free Chewing Gum Market by Distribution Channel
The distribution channels studied in the global sugar-free chewing gum market are supermarkets or hypermarkets, specialty stores, convenience stores, online retail and others. The convenience store segment accounted for the largest share in the sugar-free chewing gum market. Most of the consumer are now a day’s influence by convenience store due to the price of the products. Convenience stores are located at convenient locations where people can quickly purchase the products. Convenience stores are gaining popularity as they provide all the goods under one roof.
Sugar-Free Chewing Gum Market by Geography
On the basis of geography, the sugar-free chewing gum market is segmented into, North America, Asia-pacific, Europe, and the rest of the world. The North-America region segment commanded the largest share in the sugar-free chewing gum market. The increased consumption of sugar-free products is due to the high prevalence of obesity in the region. The United States is a major country contributing the largest share of sugar-free chewing gum in North-America. Furthermore, the presence of a large number of key players and increased product awareness and innovation in flavors boost the sugar-free chewing gum market in the North-America.
Competitive Landscape Analysis
The competitive landscape analysis of the global sugar-free chewing gum market is certainly based on the range of market players operating in the packaging industry. The sugar-free chewing gum market is highly competitive due to the presence of a large number of players in the market. The demand for the sugar-free chewing gum market has increased due to the rise in health awareness among consumers and the key players are working hard to increase their market value to raise their company presence globally. The key player offers a wide range of sugar-free chewing gum based on flavor. The market has major competitive analysis based on the new product, eco-friendly products, quality, and price. The players operating in the global sugar-free chewing gum market are adopting different strategies to cater to consumer demand.
The key players studied in the market are, The Hershey Company, Perfetti Van Melle Group B.V, Mondel?z International, Lotte Corporation, The PUR Company Inc, Mars Incorporated, Health Made Easy Group, Ferndale Confectionery Pty Ltd, Ferrero SpA, Verve, Inc., Kraft Foods Inc, Haribo GmbH & Co. Kg, The Wm. Wrigley Jr. Company, Topps Company Inc., Simply Gum Inc. and among others.
