Global Resins in Gum base Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Resins in Gum base Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Gum Base is a kind of non-nutrient, indigestible and insoluble in water, easy-to-chew solid substance. It is the basic chewing substance in chewing gum and bubble gum. Generally speaking, the Gum Base is made of rubber, resin, filler, wax, emulsifier, and antioxidant. The resin provides cohesion or strength for the Gum Base.

Market Overview:

The latest research study on the global Resins in Gum base market finds that the global Resins in Gum base market reached a value of USD 533.3 million in 2022. It’s expected that the market will achieve USD 716.32 million by 2028, exhibiting a CAGR of 5.04% during the forecast period.

Strength

Resin is an important ingredient added to Gum Base. Resin-containing chewing gum is easier to remove from the surface than conventional chewing Gum Bases and does not produce a bitter taste. As a casual snack, chewing gum has always been loved by young people. Although the growth of the chewing gum market has declined in recent years, the overall volume is still huge. Therefore, as long as chewing gum and bubble gum products exist, the sales of resins in gum products can be guaranteed.

Weakness

Downstream market shrinks: Among snacks, chewing gum has long been a mature category. Due to competition with other confectionery products and the rise of online shopping, chewing gum sales are declining. And because chewing gum has been widely used as a breath freshener, rather than just eaten as a snack, products with competitive purposes (such as mints, lozenges, chewing gum, and chews) also limit the growth of chewing gum. The shrinking downstream demand will greatly affect the resin in the Gum Base market.

Opportunities

Application of chewing gum as a drug delivery system: Drug-containing chewing gum has been recognized as a new and advanced drug delivery method. However, given how compounds such as flavors slowly dissipate from the gum during chewing, scientists are now studying the use of pharmaceutical gum to control the oral delivery of drugs. With the advancement of research, chewing gum has become increasingly mature as a drug delivery system, and higher requirements will be put forward for resins in Gum Base products while promoting market expansion.
More companies enter the chewing gum industry: At present, most resins in Gum Base products are supplied to companies that produce snack-type gum. With the advancement of technology, there may be more companies producing multiple types of chewing gum products in the future. For example, medicinal chewing gum, chewing gum with health functions, etc. The diversification of products will attract more companies to enter the industry, thereby promoting the sales of resin in Gum Base products.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Wrigley is a recognized leader in the field of confectionery products, with a wide range of products including chewing gum, mints, hard candies and chewy candies, and lollipops. Wrigley is the largest chewing gum manufacturer in the world. In 2008, Mars acquired Wrigley.

Mondelez International is one of the leaders in the global snack food industry. The company produces and provides delicious food and beverages to consumers in approximately 165 countries around the world. Mondelez International is the world's leading manufacturer of snack foods, occupying a leading position in all categories of competition.

Wrigley is one of the major players operating in the Resins in Gum base market, holding a share of 20.68% in 2020.

Segmentation Overview:

Among different product types, Hydrogenated Rosin Esters segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Chewing Gum segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Resins in Gum base market covered in Chapter 3:

Remik
Cafosa
Gumbase
Cloetta
Fimcobase
Gumcorp (pvt) Ltd.
Maykim
Arcor Group
Perfetti Van Melle
Gumlink Confectionery Company
Mondelez International
Wrigley

In Chapter 4 and Chapter 14.2, on the basis of types, the Resins in Gum base market from 2018 to 2029 is primarily split into:

Rosin Esters
Hydrogenated Rosin Esters
Polyterpenes
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Resins in Gum base market from 2018 to 2029 covers:

Bubble Gum
Chewing Gum
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)