LONDON–(BUSINESS WIRE)–The new Gum Market Research from Technavio indicates Positive and Superior growth in the short term as the business impact of COVID-19 spreads.
“One of the primary growth drivers for this market is the new product launches,” says a senior analyst for Consumer Staples at Technavio. As the markets recover Technavio expects the gum market size to grow by USD 1.15 billion during the period 2020-2024.
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Gum Segment Highlights for 2020
- The gum market is expected to post a year-over-year growth rate of -0.39%.
Regional Analysis
- 30% of the growth will originate from the Europe region.
- Europe will offer several growth opportunities to market vendors during the forecast period. The growing demand for functional chewing gums will significantly influence gum market growth in this region.
- France and the UK are the key markets for gum in Europe.
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Notes:
- The gum market size is expected to accelerate at a CAGR of almost 1% during the forecast period.
- The gum market is segmented by product (chewing gums and bubble gums), type (sugared gums and sugar-free gums), and geography (APAC, Europe, North America, MEA, and South America).
- The market is fragmented due to the presence of a few established vendors holding significant market share.
- The research report offers information on several market vendors, including FITGUM, Functional gums Srl, Lotte Confectionery Co. Ltd., Mars Inc., Med CBDX, Miradent, Mondelez International Inc., Perfetti Van Melle Spa, Simply Gum Inc., and The Hershey Co.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Coverage
Regions Covered
Topics Covered
COVID-19, Gum, Gum Market, Chewing Gums and Bubble Gums
