New Food research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/03/2014 -- In South Korea, gum sales will continue to increase marginally due to falling growth in demand for gums fortified with xylitol which is a functional ingredient for teeth health and a lack of innovation in developing replacements. In 2013, gum is expected to see value growth of 2%, to reach Won375 billion. Bubble gum will continue negative value growth of -1% in 2013. This decline will be caused by market saturation and consumer awareness that chewing bubble gum is bad manners. On the other hand, chewing gum is expected grow by 2% in value terms, driven by steady growth in sugar free gum. Sugar free gum will contribute 76% of chewing gum value sales.
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Lotte Confectionery will maintain their dominance in gum, with an expected 55% value share in 2013. Watta, which was launched by the company in 2013, focussed on teenagers and benefitted from high levels of marketing. The product was developed to provide a longer-lasting experience of chewing bubble gum. Marketing through competitions will support sales of the product, although the impact on the company's market position was minimal.
Value sales of gum are expected to decrease at a CAGR of -1% over the forecast period, in constant 2013 prices. While the growth of overall gum will decline, chewing gum will perform better with a -1% CAGR than bubble gum with CAGR of -3% in constant value sales. Manufacturers are expected to focus on chewing gum, especially sugar free gum which has better potential for growth in the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Gum industry in South Korea with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Gum industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Gum in South Korea market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Gum in South Korea?
- What are the major brands in South Korea?
- How are more expensive "lifestyle" brands like Wrigley's 5 performing?
- Are consumers in developed markets moving from sugarised to sugar-free gum?
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