According to the research of Future Market Insights, over the projected period, the Mastic Gum Market is expected to expand at a CAGR of 3.7%. The industry's estimated value will increase from US$ 698.9 Million in 2023 to US$ 1,005.1 Million in 2033. The Mastic Gum Market was worth US$ 673.3 Million at the end of 2022.
| Attributes | Details |
|---|---|
| Market Size Value in 2023 | US$ 698.9 Million |
| Market Forecast Value in 2033 | US$ 1,005.1 Million |
| Global Growth Rate (2023 to 2033) | 3.7% |
| Forecast Period | 2023 to 2033 |
| Global Market Share of USA, Germany, Japan, and Australia | 69.2% |
A naturally occurring resin called "mastic gum" is derived from the tiny tree (mastic tree). This Schinos tree is a member of the Pistachia family. These trees typically reach heights of 1.5 to 3.5 metres (5 to 11 feet), and by the time they are 5 to 6 years old, they start to produce mastic gum. This little mastic tree might produce 60 to 250 g of resin, or mastic gum, after roughly 15 years of growth. This little mastic tree produces roughly 100gr of resin per tree on average.
Mastic gum is used for chewing and has many other beneficial impacts on oral health in addition to helping with gum health. It has been proven that, in contrast to other types of chewing gum, natural mastic gums create more salivation due of their hardness and distinct flavor, which improves the mouth's perception of cleanliness and freshness. It is helpful for those who experience dry mouth issues, particularly elderly people.
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With a CAGR of 3.8% between 2018 and 2022, the global market for Mastic Gum Market expanded from US$ 580.0 Million to US$ 673.3 Million.
The growing demand for mastic gums in the food service, pharmaceutical, and medical industries is a key driver driving the expansion of the global mastic gums market. The market is anticipated to be driven over the projected period by rising consumer awareness of the use of mastic gums to improve health conditions including dry mouth.
Additionally, the expanding demand for mastic gum products in the food service business, pharmaceutical industry, and medical sector is being fueled by rising per capita income, changing consumer lifestyles, and increased consumer awareness of the resins from mastic trees.
With a high CAGR of 3.7% over the projected period, it is expected that the global Mastic Gum Market would increase from US$ 698.9 Million in 2023 to US$ 1,005.1 Million by 2033.
The Mastic Gum market in North America is expanding rapidly. With new and innovative uses for the product, including food additives and skincare products, more manufacturers are looking to capitalize on its potential. The growing demand for natural remedies has propelled mastic gum into the mainstream as a viable option that gives consumers access to natural resources without sacrificing efficacy or quality.
Mastic Gum is harvested from the Pistacia lentiscus tree which grows mainly in Greece and Turkey but can also be found in parts of North Africa and Southern Europe. This makes it relatively hard to find for those living outside those regions, creating an opportunity for North American entrepreneurs to fill the void with their own production facilities. These production plants have increased production by implementing high-tech equipment that monitor parameters such as temperature, humidity, oxygen content, etc., ensuring a consistent output of high-quality product.
The use of mastic gum has been traditionally used in the Mediterranean regions, such as Greece and Turkey. It is now becoming increasingly popular in other parts of Europe due to its health benefits. Recent market research has shown that the demand for mastic gum is growing rapidly across the region, with sales increasing by an estimated 15% year-on-year.
As a result of this growth in popularity, many European countries are now investing heavily in research into the therapeutic properties of mastic gum and its potential applications for medical treatments. This new focus on mastic gum has seen a corresponding rise in sales across Europe too, with more producers entering the market and offering different varieties of the product to meet consumer needs. In addition, many supermarkets are now stocking mastic gum products to meet this increased demand.
The market for mastic gum is expanding in the Asia Pacific region due to its increasing popularity as a health supplement. Mastic Gum, derived from the Pistacia Lentiscus tree, has been used for centuries in traditional medicines throughout the Mediterranean and Middle East. It has recently grown in popularity across the Asia Pacific region for its many reported health benefits, including relieving symptoms of indigestion, promoting healthy skin, and improving oral hygiene.
As demand continues to grow across Asia Pacific countries such as India and China, more manufacturers are entering the market to meet consumer demand. With an increasing number of suppliers offering mastic gum products at competitive prices, consumers now have access to a wide variety of options when it comes to purchasing mastic gum supplements or products containing mastic gum ingredients.
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Mastic gum, also known as mastic resin, is a natural resin obtained from the trunk of the mastic tree. In the food service industry, it is used as a flavoring and texturizing agent in a variety of products, such as confectionery, baked goods, and meat products. Mastic gum can also be used as a thickener in sauces and syrups, and as a gelling agent in desserts. It is also used in traditional Middle Eastern and Mediterranean cuisine. Additionally, mastic gum is also used in the preparation of liqueurs and bitters.
In the pharmaceutical industry, mastic gum is used primarily as an ingredient in various oral and dental care products, such as toothpastes, mouthwashes, and gums. The resin has been traditionally used as an antimicrobial and anti-inflammatory agent, and has been found to have beneficial effects on oral health. It has been shown to help prevent plaque formation and tooth decay, as well as reduce inflammation in the gums and mouth. Additionally, mastic gum has also been studied for its potential use in other areas of medicine such as wound healing and gut health.
The competitive landscape of the mastic gum market is characterized by the presence of a few global players, as well as several regional and local players. The market is dominated by a few key players, such as Grecian Magnesite S.A., Mastic S.A., and Chios Mastiha Growers Association, who hold a significant share of the market. These companies have a strong presence in the market, as well as a wide range of product offerings. They also have a strong distribution network and a strong brand reputation.
However, there are also several regional and local players who hold a significant share of the market in their respective regions. These players focus on providing mastic gum products at a relatively lower price than the key players, and they also have a strong distribution network in their respective regions. Overall, the market is moderately consolidated, with the presence of both global and regional players.
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; MEA |
| Key Countries Covered | Philippines, India, Malaysia, Thailand, USA, Germany, China, Japan, Denmark, Canada, Mexico, Poland, UK, Turkey, France, Italy, Spain, South Korea, Russia, Australia, Brazil, Argentina, South Africa |
| Key Segments Covered | Type, End-user Industry, Region |
| Key Companies Profiled | Grecian Magnesite S.A.; Mastic S.A.; Chios Mastiha Growers Association; Merck KGaA; Lalilab Inc.; Sharawi Chewing Gum Factory; Mazaya’s Tobacco-Molasses |
| Report Coverage | DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Mastic Gum market will reach nearly US$ 698.9 Million by 2023.
The Mastic Gum market is expected to rise at a CAGR of 3.7%.
USA, Canada, Mexico, Argentina, Brazil, Germany, UK, France, Turkey, Italy, Russia, Spain China, Japan, India, Indonesia, South Korea, Australia are the major countries driving the demand for Mastic Gum market.
The China Mastic Gum market will grow at 6.1% CAGR between 2023 and 2033.
The India Mastic Gum market will grow at 5.8% CAGR between 2023 and 2033.
The UK Mastic Gum market will grow at 6.3% CAGR between 2023 and 2033.
• Grecian Magnesite S.A. • Mastic S.A. • Chios Mastiha Growers Association • Merck KGaA • Lalilab Inc.
The global demand for Mastic Gum market is forecasted to surpass US$ 1,005.1 Million by the year 2033.
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