Global Mastic Gums Market Outlook
Mastic gum is aromatic resin collected from mastic tree also called pistacia lentiscus native to Mediterranean region. Mastic gums are used as chewing gums to freshen the teeth and clearer teeth owing to its anti-microbial property. It also helps in improving digestion and liver health due to the antioxidant and anti-inflammatory compounds present in it. Subjective to its medicinal and nutritional benefits mastic gum has successfully penetrated functional food, supplements and pharmaceutical application area. The procurement and usage of mastic gum has largely been performed by small scale companies based out of Mediterranean region. However, over the past decade global mastic gum industry has witnessed large scale organized activities. A two fold increase in mastic gum export has also been reported worldwide.
Awareness about the medicinal benefits is driving the Global Mastic Gums Market
The global mastic gum market is expected to witness substantial growth due to the rising demand mouth fresheners. Its ability to cure indigestion and ease inflammation is increasing its demand as medicinal product. The changed lifestyle had changed the eating habit of the consumers which had caused many digestive issues which necessitates the use of mastic gum. Mastic gums also improves many dental problems which is increasing the demand of mastic gum by pharmaceutical industry. Increasing consumption of chewing is also the factor for high demand of mastic gum chewing manufacturers. The product penetration and availability of the products in the high potential market of emerging countries is the factor fueling the mastic gum demand. The increasing pharmaceutical and health supplement market is also pushing global mastic gum market. The increased application of mastic gum in food, pharmaceutical and health supplement is expected to witness substantial growth of the mastic gum market in all demographics.
Global Mastic Gums Market – Segmentation
Based on end user, the global mastic gum market is segmented as
Based on region the global Mastic gum market is segmented as
Global Mastic Gums Market – Key Players
Some of the key players of the global mastic gum market are, Sharawi Chewing Gum Factory, LALILAB, Mazaya’s Tobacco-Molasses, and others.
Global Mastic Gums Market – Opportunity
The application of mastic gum in pharmaceutical products to enhance the portfolio and add value to the product is propelling the global mastic gum market. The demand is high in developed countries owing to awareness about such products. North America is expected to show promising growth due to the high penetration of mastic gum based products. Europe is also showing stagnant growth for the mastic gum market. Asia Pacific region being the fastest growing economy will show fastest growth rate, also due to the huge consumer’s base and increasing cases of dental, ulcer and others mouth related problems the mastic gum is in demand.
Impact of COVID-19 on Global Mastic Gums Market
The market are affected due to the coronavirus spreading in most of the countries of the world. From farm products to manufacturing and distributions this pandemic had affected as the market depend mainly on supply chain. The governments have imposed lockdown in the coronavirus affected region to reduce the spread of the deadly disease, non-essential products are restricted which has affected the global mastic gum market in those regions. The manufacturing units had primarily affected by this COVID -19 outbreak as many manufacturing sites cannot be operated on remote. The world will require at least a year time to get back on the normal situation after this pandemic. The mastic gum market will get affected as the manufacturing sites are closed in many regions. Since sourcing of mastic resin is limited to few region, the manufacturers are struggling to source the raw material. The post-pandemic world may change few trends and will create new ones, and most of the business will change in order to grow. No more green investment will be seen in the industry and the manufacturer will also change the supply chain pattern and will source more material from regional or local market compared to the others.