Gum was hit hard by the outbreak of COVID-19 in 2020, with a value decline of 11% and a volume decline of 13% for the year. With gum often being an impulse purchase, the fact that consumers were spending more time at home, working from home and learning from home while visiting stores less, severely damaged sales.
The availability of bubble gum has increased in 2021, with Mars Wrigley confectionery relaunching its product Juicy Fruit, a bubble gum options sold as an alternative to its chewing gum ranges. Bubble gum is seen as more of a confectionery product in Latvia, whereas chewing gum is considered to be a hygiene product that aids oral care and bad breath.
With lockdown having eased in April 2021, consumers are set to return to work throughout the year, boosting sales of chewing gum. Sugar-free chewing gum meets the requirements of many consumers, allowing them to enjoy what is perceived as a snack product in a relatively cheap, quick and healthy way.
Following a return to volume and value growth in 2021, chewing gum is expected to show positive growth across the full forecast period, with a value CAGR of 4%. Once restrictions ease, and consumers return to their daily routines, growth will benefit from social gatherings resuming and on-the-go lifestyles returning, boosting impulse purchases.
With the outbreak of COVID-19 increasing consumers interest in health and wellness, growing health concerns are expected to persist across the forecast period. This is not a favourable situation for bubble gum, which is perceived to be a confectionery product and may be avoided by many due to its sugar content.
The competitive landscape of gum is concentrated in Latvia. While the rankings of the leading players are unlikely to be challenged in the foreseeable future, their shares may be eroded by smaller companies offering innovative new products.
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Understand the latest market trends and future growth opportunities for the Gum industry in Latvia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Gum industry in Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Gum research and analysis database.
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