Health and wellness to boost gum sales
March 5, 2012
by Keith Nunes
SAN JOSE, CALIF. – The introduction of gum products featuring a health benefit as well as growth in the value-added segment will spur market growth, according to Global Industry Analysts, Inc. The market research firm forecast the global gum market will reach $23.1 billion in sales by 2017.
Noting that the gum category is highly concentrated and relatively mature, Global Industry Analysts said the segment is undergoing a major transition.
“(The) gums market is highly concentrated and fiercely competitive in structure and alignment,” the research firm said. “Continuous product innovation is the only key to improve sales opportunities and to remain competitive in the market.”
Novel gum products are emerging that offer various dental and health benefits such as curing ear infections, soothing ulcers and fighting cavities as well as whitening and strengthening teeth. As consumers are becoming more health and calorie conscious, a surge in sugarless and medicated gums are expected to continue.
Global Industry Analysts also said strong flavored value-added pellet gums are likely to add fuel to the chewing gum segment’s growth. Nutraceutical gum is also forecast to play a major role in expanding the worldwide gum market. The development of a biodegradable gum, which does not compromise on the basic taste, texture or flavor of a product, may also boost sales.