Global Mastic Gum Market size was valued at USD 350.8 Million in 2022 and is expected to reach USD 645.6 Million by 2032, at a CAGR of 8.1% during the forecast period 2023 – 2032.
Mastic Gum Market: Overview
Mastic gum, also referred to as Chios mastic, is a resin derived from the mastic tree (Pistacia lentiscus var. Chia), which is endemic to the Greek island of Chios and adjacent Mediterranean countries. It has been used for hundreds of thousands of years in a variety of applications, most notably in traditional medicine and as a flavoring ingredient.
Consumers are becoming more aware of mastic gum’s health advantages, such as its digestive characteristics and possible anti-inflammatory effects, which are driving up demand for natural and functional food components.
Furthermore, there is a growing fascination with conventional and herbal medicine, as mastic gum has been utilized for generations, resulting in its incorporation into a variety of nutraceutical and pharmaceutical products.
Moreover, the growing cosmetic and personal care industries are adding mastic gum due to its skin-soothing and anti-aging benefits, which are driving market expansion.
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Furthermore, innovations in extraction processes and environmentally friendly procurement procedures are improving the quality and availability of mastic gum, promoting its use in a wide range of applications worldwide.
In conclusion, these patterns point to a positive future for the mastic gum business, with consistent growth expected in the forthcoming years.
Chewed pure mastic gum dominates the mastic gum market due to its claimed health benefits such as dental cleanliness, digestive help, and putative anti-inflammatory effects, which attract health-conscious customers.
By distribution channel, the convenience stores segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
Convenience shops drive the mastic gum business because of their prevalent presence, accessibility, and ability to generate impulse purchases. They also appeal to clients looking for on-the-go, rapid relief treatments for their dental health.
CMI has comprehensively analyzed the Global Mastic Gum market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Mastic Gum industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Mastic Gum Market:
- Meridian Foods
- Norevo
- Chios Mastiha
- Latzinos
- Gum Technology
- Nature’s Goodness
- Nutra Green Biotechnology Co. Ltd.
- Herbafood Ingredients GmbH
- The Mastic Spa
- Amidon Family Enterprises
- Henry Lamotte Oils
- Naturevibe Botanicals
- Lee Labs
- Alfa Chemicals
- Mastiha Exports
- Venkatesh Naturals
- Herbafood Ingredients GmbH
- Mazaya Global
- Mediterranea Phytoest
- Others
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