Dublin, Ireland — The global sugarfree chewing gum market is expected to reach $26.67 billion by 2032, according to a new study by ResearchAndMarkets.com. The report finds the gum market has expanded rapidly in recent years in part because of the growing wellness society, as well as the increased incidences of dental decay raising interest in sugarfree chewing gum.
Other factors projected to promote growth include regular product improvements, such as the launch of novel flavors and a thriving organized retail sector. Unique advertising strategies are also boosting industry growth, the report finds.
Most sugarfree gum products are sold via convenience stores followed by hyper and supermarkets. However, sales in traditional stores are likely to stay flat because of increased purchases from internet portals.
Asia-Pacific is the most profitable market for makers of sugarfree chewing gum. Rising consumer awareness of the advantages of such gum, as well as increased investment by manufacturers in the region’s emerging nations, are a few of the factors fueling expansion in the region. With easy product availability for consumers, the growing organized retail sector is contributing to market growth.
