According to a research report titled ‘Global Functional Chewing Gums Market Size study, by Product (Smoking Cessation, Chewing Gums, Oral Health Chewing Gums, Fitness & Well Being Chewing Gums and Others), by Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Online and Others), and Regional Forecasts 2021-2027’, available with Market Study Report, global functional chewing gums market was worth USD 1.52 billion in 2020 and is expected to record a CAGR of 9% over 2021-2027, subsequently accumulating USD 2.78 billion by the end of the assessment period.
 

Report findings claim that surging demand for smoking cessation chewing gums, innovative marketing strategies implemented by companies, and launch of new products with various health benefits are major factors stimulating worldwide functional chewing gums industry. For instance, in 2019, Hemptown USA introduced a functional chewing gum containing 5 grams of cannabigerol and 15 milligrams of cannabidiol, which offers several therapeutic effects to consumers.
 

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Further, rising inclination towards functional chewing gums for nicotine replacement therapy, so as to curb smoking habits is also expected to add substantial traction to market development. On the contrary, high prices of functional chewing gums are likely to impede overall industry remuneration in the forthcoming years.
 

Based on product type, the industry is arrayed into smoking cessation, fitness & wellbeing, oral health and other chewing gums. Moving on to distribution channel, the market segmentation comprises convenience stores, hypermarkets & supermarkets, online, and others.
 

From a regional frame of reference, key contributors to global functional chewing gums market remuneration are Asia Pacific, Europe, Latin America, and North America. Among these, North America currently accounts for majority market share owing to strategic moves by leading companies in terms of marketing campaigns, and product launches.
 

Meanwhile, Asia Pacific market is projected to grow at a rapid rate during the forecast period, attributable to the region’s massive young population demographic, as well as rising prevalence of smoking habits among adults.
 

Prominent players in the industry sphere are Hershey Company, PharmaEstica Manufacturing OÜ, Rev Gum LLC, Think Products LLC, Mondel?z International Inc., Med CBDX, Lotte Confectionery Co. Ltd., Gumlink Confectionery Co. A/S, GlaxoSmithKline plc, and AB Natural Base SA CV.