Gum is set to be the fastest-growing confectionery channel in the next three years, according to research released today (12 May).
Gum, the third-largest confectionery sector, is set to increase in popularity as consumers seek added benefits or increased points of difference to justify their spend on indulgent, discretionary products, a Business Insights report found.
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According to Business Insights analyst Katie Thomas, the growing focus on weight management is one of the factors behind the development of the gum sector. She forecasts that sugar-free gum will grow by 6.1% between 2010-14 to reach US$12.7bn.
Functional gum is also set to drive growth in the sector, up 5.5% to $3bn by 2014, with innovations in gum bases, which help to maintain the integrity of sensitive ingredients, have allowed the development and launch of an increasing number of products, according to Thomas.
The report found that rising incomes in emerging markets will also drive growth, although mature markets will see demand increase for ethical and functional products.
Overall, the sector is set to rise in value to $171.2bn by 2014 from $153bn in 2010.
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