LONDON–(BUSINESS WIRE)–Technavio has announced the top five leading vendors in their recent global functional chewing gum market report from 2017-2021. This market research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global functional chewing gum market is moderately competitive because of the presence of established players in the market. As the preferences of customers change in terms of taste and ingredients, manufacturers tend to offer products that are in sync with evolved consumer demands. Existing manufacturers, of late, are investing in products that are made with healthy ingredients. The existing vendors are competing against each other in terms of innovation, new product development, price, marketing activities, and others.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “The increasing demand for chewing gums with added vitamins and energy supplements is driving the sales of functional chewing gums. The ingredients of a chewing gum easily get absorbed in the buccal cavity of the mouth. Therefore, the consumption of functional chewing gums helps in rapid absorption of vitamins and minerals to the human body. Considering this, manufacturers are incorporating natural energy sources such as guarana in chewing gums. The number of products incorporated with vitamins and energy supplements is also increasing.”
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Technavio market research analysts identify the following key vendors:
LOTTE produces and sells ice creams, sweets, and other food products. The company also offers smoking goods, sundries, dairy products, beverages, chocolates, chewing gums, frozen foods, and sweets. The company also trades agricultural and fishery products and health foods products. LOTTE also has operations in the United States, South Korea, Indonesia Thailand, Vietnam, Taiwan, Malaysia, the Philippines, Singapore, Brazil, and Poland.
Mars engages in the production and sale of confectionery, pet food, and other food products to customers globally. The company offers pet food products, confectionery items (such as gums, mints, and hard and chewy candies), other food products (including pre-cooked wheat items, rice, herbs and spices, marinades, recipe bases, mustards, relishes, pasta meals, sauces, cheeses, and whole grain mixes), and several others.
Mondelēz International manufactures and markets beverages and snack food products globally. The company offers biscuits, crackers, salted snacks, chocolates, gums, powdered beverages, grocery, and crackers. The company has an extensive snack brand portfolio such as Oreo, Nabisco, LU, belVita biscuits, Cadbury, Toblerone chocolates, Halls candies, Trident gums, and Tang-powdered beverages. Mondelēz International distributes its products through different retail channels such as wholesalers, supermarket chains, supercenters, club stores, convenience stores, mass merchandisers, drug stores, and other retail food outlets through direct store delivery.
Perfetti Van Melle
Perfetti Van Melle manufactures and distributes chewing gums and confectionery products globally. The company offers lollipops, mints, hard candies, liquid-filled gums, snacks, and sugar-free mints. Perfetti Van Melle distributes its products in Asia, the Americas, the Middle East, Africa, and Europe. Perfetti Van Melle has a presence in over 150 countries and operates 43 subsidiaries and associate companies across the world.
THE HERSHEY COMPANY
THE HERSHEY COMPANY, with its subsidiaries, manufactures and sells confectionery products. The company offers confectionery products, gum and mint refreshment products, baking ingredients, sundae syrups, snacks bites, mixes, and much more. The company markets and sells its products to grocery stores, wholesale distributors, drug stores, convenience stores, hypermarkets, and supermarkets.
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