Gum base is a solid substance that is non-nutritive, difficult to digest, insoluble in water, and easy to chew. Generally speaking, it is made of rubber, resin, filler, wax, emulsifier and antioxidant. Resin is an important part of the gum base, providing cohesion or strength for it.
Resins in gum base are mainly divided into three types according to product technology: rosin esters, hydrogenated rosin esters and polyterpenes. The market shares of these three resins in 2019 are 22.00%, 35.51% and 10.26%, respectively.
Gum base is commonly used as the most basic chewing substance in chewing gum and bubble gum. 17.87% and 82.13% of gum base resins are used in these two products in 2019. Gum containing resin is easier to remove from the surface than traditional gum base and does not produce bitter taste. However, the resin is susceptible to gradual oxidation or melting and deterioration, so it needs to be stored properly. The product may melt or clump under hot weather conditions or after prolonged storage. When using, pay attention to strictly control the inventory and use the oldest materials first.
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 total amount is still large. Therefore, as long as chewing gum and bubble gum products exist, the sales of resins in them can be guaranteed.
Since the 21st century, resins in gum base industry has made great progress. At the same time, with the improvement of personal quality of life and frequent social interactions, as well as the strengthening of functions such as smoking cessation and health care, the consumption is increasing day by day.
Prospect Analysis of the Resin in Gum Base Industry in Various Regions
North America is the largest resins in gum base market in the world, with a market size of US$168.53 million in 2020, accounting for 35.82% of the global market share. Among them, the U.S. market ranks first, reaching 146.4 million U.S. dollars in 2020, accounting for 85.82%. It is estimated that by the end of 2025, the market value of resins in gum base industry in North America will reach 218.16 million U.S. dollars, with a compound annual growth rate of 5.30% from 2020 to 2025.
Asia-Pacific is the second largest chewing gum resin market, mainly due to the rapid development of the local economy, which has driven the sales of consumer products. In 2020, the local market share is 29.84%. Among them, the Chinese market is the largest. In 2020, resin in gum base in the Asia-Pacific market will be worth US$140.42 million, which is expected to reach US$197.56 million by the end of 2025, with a compound annual growth rate of 7.07% from 2020 to 2025.
Europe is the third largest resins in gum base market, which is inseparable from the hot selling of local chewing gum products. In 2020, its market size is 128.08 million U.S. dollars, accounting for 27.35% of the global market share.
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During the epidemic, many countries formulated social distancing policies. Because most people have begun to reduce going out and working at home, social interactions between people have drastically reduced, and the sales of chewing gum has also been affected. In addition, because people wear masks most of the time, the need to combat bad breath is also reduced, which has an adverse impact on the resins in gum base market.
The global resins in gum base companies mainly come from Europe, America, Asia Pacific and other places, with relatively low market concentration. The top three companies in 2019 are Wrigley, Mondelēz International and Lotte, with market share of 20.54%, 10.64%, and 5.84%. Currently, most of the resin in chewing gum products is supplied to companies that produce snack-type chewing gum. With the advancement of technology, there may be more companies producing various types of chewing gum products in the future, such as medicinal chewing gum and health-care functional chewing gum. The diversification of products will attract more companies to enter this industry, thus promoting the sales of resins in gum base products.
The Multifunctionalization of Resins in Gum Base Will Become the Main Driving Force for Market Growth
Among snacks, chewing gum has long been a mature category. In view of how compounds such as spices are slowly dissipated from the gum during chewing, scientists are now studying the use of medicinal gum to control the oral administration of drugs. Medicated chewing gum has been recognized as a new and advanced drug delivery method. With the continuous deepening of research, chewing gum as a drug delivery system has become increasingly mature, and higher requirements have been placed on resins in gum base, which has also promoted the expansion of the market at the same time.
The resins in gum base market is greatly affected by its downstream market. As early as the early 20th century, sugar-free chewing gum appeared in European and American countries. This product can help people reduce sugar intake because it helps meet the demand for sweets without causing blood sugar levels to spike, thereby preventing the occurrence of diabetes. As people pay more and more attention to a healthy lifestyle, sugar-free chewing gum has become a mainstream product on the market, which will promote the production and sales of chewing gum base materials and their ingredients.
According to research, the total output value of the global resins in gum base market in 2015 was US$411.55 million, and it will increase to US$470.51 million in 2020. We predict that by 2025, the value of resins in gum base market will reach 624.99 million US dollars. From 2019 to 2025, the compound annual growth rate of resins in gum base is 5.84%.
At present, consumers are increasingly demanding chewing gum. They have shifted from pursuing the diversity of tastes to additional functions such as tooth building, moth prevention, beauty and social interaction. This transformation has brought new market space and new development opportunities for enterprises. With the growth of consumer demand in the future, chewing gum that does not contain artificial ingredients and allergens, but has stronger functions, may have more room for development. In the future, product innovation is still the main way for market development. Manufacturers will also pay more attention to investment in emerging markets, adjust product portfolios through innovation, and improve overall product strategies.
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