Global Mints Market - Segmented by Product Type, Distribution Channel and Geography - Growth, Trends, and Forecast (2018 - 2023)

The global mints market is expected to reach USD 7.76 billion by 2023 registering a healthy CAGR during the forecast period. The global mints sale recorded a decline in the past five years. About 397million Kg of mints consumed in 2016, which is growing at a stable growth.

Rising sugar-free chewing gum sale possess a healthy competition to mint market in the recent year with the introduction of hybrid products composed of mint and gum. Consumer preference for mint remains high as compared to chewing gum due to its oral benefit and low sugar content. Innovation in products with various flavors drives the mint consumption pattern. Impulse purchase, convenient pack, innovation in products has fueled the mints market growth.

Clean Label Ingredient Boost Sales

Poor gum performance in developed countries such as US and UK in the past few years gave space for mint products to grow. Ingredient list, such as bulk sweetener, aspartame, acesulfame K, and emulsifiers on gum label, which contains very few natural ingredients. Consumer preference for simple ingredients on product label has fueled the mint market growth. Power mints like Altoids and Ice Breakers not necessarily contain natural components but have fewer ingredients.
Convenient and attractive packaging such as flip-flop pack, sliding door type packaging led to rising in mint demand. Sugar-free gums, such as Hershey Ice Cube gum, Doublemint, and Wrigley Mints have performed quite well in the market. Increasing demand for single pack size and product innovation in the unique format is potential mints market opportunity to drive the sale. As mints consumption pattern primarily driven by impulse purchasing which offer an opportunity for product packaging.

North America Changing Taste to Mint

Chewing gum consumption pattern has changed significantly in the US with the tooth decay problem and artificial ingredients in gum. Despite the increased sugar-free gum market, gum infused with vitamins, the gum sale growing at negligible growth rate. Mint demand in the region rose by double-digit growth rate over the past five years. Powered mint sale, such as Altoids that contains intensely flavored breath-freshening mints recorded strong growth rate than standard mint products, such as Ice Breakers and Mentos in the region. Incorporation of naturally flavored ingredients in mint is the future mints market opportunity. Asia-Pacific is another potential region to tap for companies. For instance, the mint market size in India is only 3% of the total confectionery market. Large headspace to grow coupled with growing consumption is attracting companies to invest.

Key Developments

• April 2018 - The Hershey Co. introduced a first-of-its-kind glitter gum under its Ice Breakers brand. The product is available in cherry snow cone flavor with added glittery flair to push their swagger over-the-top. Ice breaker is one of the innovative product with a combination of mint and gum
The global mints market is competitive with large number of multinational player competing for market share. New product innovation with attractive packaging is the main strategy adopted by players.

Major players include - NESTLÉ S.A, MONDELĒZ INTERNATIONAL, INC., PERFETTI VAN MELLE, amongst others.

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