Bubble Gum Market Report Overview
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The global bubble gum market size was USD 770 million by 2021 and is projected to touch USD 1030.5 million by 2028, exhibiting a CAGR of 4.2% during the forecasting period.
A sort of chewing gum called bubble gum is intended to refresh breath and pop out of the mouth as a bubble. Bubble gum's film-forming qualities give it the ability to blow bubbles. They used to be created with a variety of tree saps, including the sapodilla tree's latex sap. Contrarily, chewing gums are now made with a variety of sweeteners, flavors, gum bases, softeners, colors, and other substances. Because of the physical-chemical characteristics of its plasticizer, resin, and polymer components, chewing gum has a feel resembling rubber. These elements give chewing gum its sticky, elastic-plastic, and chewy characteristics.
Manufacturers are using a number of marketing techniques to attract younger consumers and boost chewing gum demand with novel flavors, designs, and eye-catching packaging.
COVID-19 Impact: Seriousness of Diseases to Hamper Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with bubble gum experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Global consumer demand for nicotine gums, a crucial segment of the chewing gum market, grew significantly during the COVID-19 pandemic. This was brought on by customers' increasing knowledge of the seriousness of the COVID-19 disease, which affects smokers increasingly frequently. Coronaviruses and other infections are more difficult for the body to fight off when smoking impairs lung function.
LATEST TRENDS
"Rise in Young Population to Promote Market Growth"
Due to the rising number of young people in emerging nations, one of the significant trends in the global chewing gum industry is the quick consumption of this gum. The integration of extra health aids and components into chewing gums with functional uses rather than only a breath-freshening effect is another aspect that can accelerate target market expansion in the upcoming years.
Bubble Gum Market Segmentation
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- By Type
Based on type; the market is divided into Sugarless Bubble-Gum, Sugar-Coating Bubble Gum.
- By Application
Based on application; the market is divided into Offline Sales and Online Sales.
DRIVING FACTORS
"Increasing Demand for Sugar Free Products to Fuel Market Growth"
Due to consumers' choice for sugar-free confectionery, sales of chewing gum with added sugar are declining. However, the bulk of the nation’s still consider sugar-free chewing gum to be a relatively new product category. However, it is also expanding far more quickly. A sugar-free variety of items has been introduced by manufacturers as a result of growing concerns about tooth disease caused by sugar content.
"Increasing Adoptions of Natural Ingredients to Propel Market Growth"
The bubble gum market growth is anticipated to be constrained by growing worries about the adverse impacts of gums' hazardous elements, such as plastic and artificial preservatives. Product developments, such as adding new flavors to products or using natural ingredients, are anticipated to support the market's expansion throughout the projected period.
RESTRAINING FACTORS
"High Cost to Limit Market Growth"
The factors that limit market growth during the forecast period include changes in pricing strategy, a lack of regulation, and the negative effects of excessive chewing which is anticipated to hamper bubble gum market development in the coming years.
Bubble Gum Market Regional Insights
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"North America to Dominate the Market Due to Increasing Dental Diseases"
North America is predicted to dominate the bubble gum market share. Due to shifting customer preferences, the market made up the greatest portion of the worldwide chewing gum industry. Due to growing worries about excessive sugar consumption and its negative effects, people in the area are switching from sugared gums to sugar-free gums. Due to issues like tooth decay and gum's artificial chemicals, chewing gum use has altered substantially in the United States.
On the other hand, it is also projected that in the coming years, the growing number of young children in the Asia Pacific area would contribute to the growth of the overall global chewing gum market.
KEY INDUSTRY PLAYERS
"Prominent Market Players to Accelerate Market Growth"
Details about each competitor are included in the competitive landscape for the bubble gum market. The company's financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details that are included. The data points mentioned above only speak to the companies' market-related priorities.
List of Market Players Profiled
- Wrigley (U.S.)
- Cadbury (U.K.)
- Hershey (U.S.)
- Concord Confections (Canada)
- Perfetti Van Melle (Netherlands)
- Unigum (Italy)
- Oakleaf (U.S.)
- ZED Candy (Dublin)
- Lotte (South Korea)
- Orion (Finland)
- Fini Sweets (Spain)
- Zhejiang Spring Sweets Co (China)
REPORT COVERAGE
The report examines market channels and provides information on the elements affecting probable future and global development. Additionally, the report looks at market size and share, regional trends, end-use categories, and market segments. It emphasizes the importance of outlining an exhaustive regional analysis. The study also carried out a sector analysis to comprehend the key driving factors and entry barriers of the market. The paper also offers suggestions on how businesses might strengthen their market positions in light of significant alterations in the market dynamics.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 770 Million in 2022 |
Market Size Value By |
US$ 1030.5 Million by 2028 |
Growth Rate |
CAGR of 4.2% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the bubble gum market expected to touch by 2028?
The global bubble gum market is expected to touch USD 1030.5 million by 2028.
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What CAGR is the bubble gum market expected to exhibit by 2028?
The bubble gum market is expected to exhibit a CAGR of 4.2% 2028.
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Which are the driving factors of the bubble gum market?
Increasing demand for sugar free products and adoption of natural ingredients are the driving factors of the bubble gum market.
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Which are the top companies operating in the bubble gum market?
Wrigley, Cadbury, Hershey, Concord Confections, Perfetti Van Melle, Unigum, Oakleaf, ZED Candy (Dublin), Lotte, Orion, Fini Sweets, Zhejiang Spring Sweets Co are the top companies operating in the bubble gum market.
