Gum base is a solid substance that is non-nutritious, indigestible, insoluble in water, and easy to chew. Generally, it is made of rubber, resin, fillers, waxes, emulsifiers, and antioxidants. Resins are an important part of the gum base, providing cohesion or strength.
Gum-based resins are mainly divided into three types according to product technology: rosin esters, hydrogenated rosin esters and polyterpenes. In 2019, the market share of these three resins was 22.00%, 35.51% and 10.26%, respectively.
Gum base is often used as the most basic chewing substance in chewing gum and bubble gum. In 2019, the application of colloid-based resins in these two products was 17.87% and 82.13%. Resin-containing gum is easier to remove from the surface than traditional gum bases and does not produce a bitter taste. However, resins tend to oxidize or melt gradually, so they need to be stored properly. In hot weather conditions or after a long period of storage, the product may melt or agglomerate, so pay attention to strictly control the inventory when using, and use the oldest materials first.
As a casual snack, chewing gum has always been popular among young people. Although the growth of the chewing gum market has declined in recent years, the total volume is still large. Therefore, as long as chewing gum and bubble gum products exist, the resin sales in them can be guaranteed.
Since the beginning of the 21st century, the gum-based resin industry has made great progress. At the same time, with the improvement of people's quality of life and frequent social interactions, as well as the strengthening of smoking cessation and health care, its consumption is increasing day by day.
Prospect analysis of gum-based resin industry by region
North America is the world's largest colloid-based resin market, with a market size of $168.53 million in 2020, accounting for 35.82% of the global market share. Among them, the total market of the United States ranks first, reaching $146.4 million in 2020, accounting for 85.82%. The North American gum-based resin industry market is expected to reach USD 218.16 million by the end of 2025, growing at a CAGR of 5.30% during 2020-2025.
The Asia-Pacific region is the world's second-largest market for chewing gum resins, driven by the rapid growth of the local economy, which drives sales of consumer goods. In 2020, the market share was 29.84%. Among them, China is the largest market. In 2020, the Asia-Pacific colloid-based resin market size was valued at USD 140.42 million and is expected to reach USD 197.56 million by the end of 2025, growing at a CAGR of 7.07% during 2020-2025.
Europe is the world's third-largest market for gum-based resins, which is inseparable from the hot sales of local chewing gum products. In 2020, its market size was $128.08 million, accounting for 27.35% of the global market share.
During the pandemic, many countries have social distancing policies in place. Most people are starting to go out and work from home less, social interaction between people is drastically reduced, and chewing gum sales will also suffer. Moreover, the need to combat bad breath has also decreased as people wear masks most of the time, adversely impacting the gum-based resins market.
The global colloid-based resin companies mainly come from Europe, America, Asia-Pacific and other places, and the market concentration is relatively low. The top three companies in 2019 are Wrigley, Mondelēz International, and Rakuten, with market shares of 20.54%, 10.64%, and 5.84%, respectively. Currently, most of the resins in chewing gum products are supplied to companies that produce snack-type chewing gum. With the advancement of science and technology, there may be more companies producing various types of chewing gum products in the future, such as medicinal chewing gum, health functional chewing gum, etc. The diversification of products will attract more companies into the industry, thereby boosting the sales of resins in gum-based products.
The multi-functionality of colloid-based resins will be the major driver for the growth of the market
In snacks, chewing gum has long been a mature category. Given how compounds such as spices slowly dissipate from chewing gum during chewing, scientists are now studying the use of medicinal chewing gum to control the oral administration of the drug. Medicated chewing gum has been recognized as a new, advanced method of administration. With the deepening of research, chewing gum as a drug delivery system is becoming more and more mature, which also puts forward higher requirements for gum-based resins, and also promotes the expansion of the market.
The gum-based resin market is greatly influenced by its downstream market. As early as the beginning of the 20th century, sugar-free chewing gum appeared in European and American countries, and this product can help people reduce their sugar intake because it helps to meet the demand for sweets without causing blood sugar levels to spike, thus preventing the occurrence of diabetes. With the increasing emphasis on a healthy lifestyle, sugar-free chewing gum has become a mainstream product in the market, which will boost the production and sales of chewing gum substrates and their ingredients.
According to the study, the total output value of the global colloid-based resin market was $411.55 million in 2015, which increased to $470.51 million in 2020. We forecast that the gum-based resin market will be worth $624.99 million by 2025. Gum-based resins will grow at a CAGR of 5.84% from 2019 to 2025.
At present, consumers are demanding more and more from chewing gum. They have shifted from seeking variety of tastes to additional features such as dental stoma, cavities, beauty, and socializing. This transformation has brought new market space and new development opportunities for enterprises. As consumer demand grows in the future, chewing gum that is free of artificial ingredients, allergens, and more functional may have more room for development. In the future, product innovation will continue to be the main way to develop the market, and manufacturers will also pay more attention to investments in emerging markets, adjust product portfolios through innovation, and improve the overall product strategy.