The chewing gum market is growing at the fastest speed among all segments of the Indian confectionery market. According to a recent report by RNCOS, "Indian Confectionery Market Analysis", the chewing gum market is growing at a CAGR of more than 30% during 2012-2015, which is amazingly much higher than the other segments of confectionery industry. The changing perception of Indian consumers is the biggest reason for this growth. Chewing gums have now moved on from being popular among kids category to the adult category as well.
Increasing purchasing power of people due to the rapid development of the country is another major reason for the growth of Indian chewing market. Aggressive marketing strategies of manufactures also play an important role for the market’s growth. The chewing gum manufacturers in the country are relying on low pricing strategy, and a wide retail and distribution network to ensure that their gum products are available in shops ranging from small kirana (local) stores to the big malls. Manufacturers are also making tactful marketing and advertising strategies to position the products in the mind of consumers as intended. Launching chewing gums in various flavors is one of the proven strategies of the manufacturers.
Apart from chewing gum market, the report also discusses chocolate and sugar confectionery market in detail and facilitates the market forecasting of each segment and their sub-segments. This will help clients understand the present and future outlook of the confectionery market. Moreover, the report comprehensively analyzed the growth drivers of Indian confectionery market like increasing young population, untapped rural market and rising income and affordability. Further, market details of key players including their product portfolio and recent developments are also entailed in the report. By providing the clients with cutting-edge market intelligence, the research aims to help them devise sound investment decisions.
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