Mastic Gum Market Size, Trends and Insights By Type (Chewed Pure Mastic Gum, Xylitol Mastic Gum, Others), By Distribution Channel (Supermarkets, Convenience Stores, Specialty Stores, Others), By Application (Food & Beverage, Pharmaceutical, Personal Care, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Meridian Foods
- Norevo
- Chios Mastiha
- Latzinos
- Gum Technology
- Nature’s Goodness
- Others
Reports Description
Global Mastic Gum Market 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 is a resin that comes from the mastic tree (Pistacia lentiscus). It is gathered by cutting incisions in the tree’s bark, which allows the resin to flow out and form translucent yellowish drops. Mastic gum was used for generations for its alleged medical effects, which include improving digestive health, lowering inflammatory processes, and refreshing the breath.
Mastic Gum Market: Growth Factors
Growing health awareness among consumers
The mastic gum market is being driven by rising consumer health consciousness, as it is viewed as a natural medicine with several health advantages. Mastic gum, made from the resin of the mastic tree, has grown in popularity due to its supposed digestive health benefits, which include relieving stomach pain and improving dental health.
Furthermore, its antibacterial and anti-inflammatory characteristics appeal to people looking for natural alternatives to traditional therapy.
With growing worries about chemicals and pharmaceutical side effects, customers are turning to natural cures like mastic gum as a prophylactic precaution. This movement is fuelled by an increased interest in traditional and holistic wellness techniques.
As a result, demand for mastic gum is rising as people prioritize items thought to be natural, secure, and efficient for promoting overall health and well-being. For instance, according to the poll, 40% of Indian respondents are willing to pay a premium for items that promote health and well-being, which is higher than the global average of 29%.
According to the questionnaire, 40% of Indian respondents are willing to pay a premium for items that promote wellness and health, which is higher than the global average of 29%.
Emerging applications in regenerative treatment
The mastic gum market is being driven by rising applications in regenerative medicine due to its potential medicinal characteristics. Mastic gum, obtained from the resin of the Pistacia lentiscus tree, includes bioactive chemicals with anti-inflammatory, antibacterial, and antioxidant activities.
These characteristics make mastic gum a promising candidate for regenerative medicine applications, where it can help with tissue regeneration, wound healing, and inflammation reduction. Investigators are investigating the possibility of treating illnesses such as periodontal disease, gastrointestinal issues, and skin problems.
The increased interest in natural cures and the desire for substitutes to traditional medications are driving the use of mastic gum in regenerative medicine applications. As research continues to unearth its advantages and efficacy, the market for mastic gum is projected to increase dramatically, driven by its promising role in advancing regenerative therapies.
For instance, a Recent study indicates that mastic gum and its essential oil, primarily sourced from Chios Island CGM, have antibacterial and antioxidant effects. Its antibacterial and antiplaque properties in the oral cavity stem from its ability to limit the development of bacteria, particularly against certain species.
The findings suggest that Pistacia lentiscus powder may be employed to treat dyspeptic and gastrointestinal diseases, as well as for epidermal healing in the European Union.
Mastic Gum Market: Restraints
High costs compared to substitutes
The mastic gum market faces considerable challenges due to its high pricing as compared to replacements. Mastic gum, made from the resin of the mastic tree, is well-known for its medical and culinary use. Yet its restricted availability, along with the labor-intensive extraction procedure, leads to its high manufacturing costs.
This renders mastic gum less competitive than synthetic substitutes or natural gums such as guar or xanthan gum. Industries looking for enforceable, thickening or emulsifying chemicals may choose cheaper alternatives, reducing the demand for mastic gum.
In addition, the limited market for mastic gum limits economies of scale, exacerbating its cost disadvantage. To reduce this barrier, activities consisting of environmentally friendly harvesting techniques, technical breakthroughs in extraction technologies, and increasing production might stabilise prices and improve.
Mastic Gum Market: Opportunities
Rising demand from the cosmetics industry
The cosmetics industry’s rising preference for mastic gum is boosting the market due to its multiple positive characteristics for skincare products.
Mastic gum, produced from the resin of the mastic tree, has anti-inflammatory, antibacterial, and antioxidant effects, making it a popular cosmetic and skincare component. Its ability to soothe inflamed skin, decrease redness, and combat acne and aging symptoms has resulted in its growing use in a variety of skincare items, including creams, serums, masks, and moisturizers.
Furthermore, the popularity of natural and organic substances in cosmetics has boosted demand for mastic gum, which is a plant-based resin with supposed health advantages.
The increased consumer knowledge of skincare and the demand for solutions with natural components are driving manufacturers to utilize mastic gum, thereby fuelling its market growth in the cosmetics industry. For instance, Mastic Gum is made from mastic, a resin extracted from the Pistacia lentiscus trees found on the Greek island of Chios.
Mastic is the initially discovered natural chewing gum in ancient times, and it has been extensively utilized in medical and skin care formulas for hundreds of years. NovoRetin™ is an effective plant-based retinol solution for cosmetics, offering powerful anti-aging effects and outstanding advantages for impure skin. This idea received recognition at the in-cosmetics Asia trade event in Bangkok.
Mastic Gum Market: Segmentation Analysis
Global Mastic Gum market is segmented by type, distribution channel, application, and region. Based on type, the market is classified into chewed pure mastic gum, xylitol mastic gum and others. Chewed pure mastic gum dominated the market in 2022 with a market share of 55% and is expected to keep its dominance during the forecast period 2024-2032.
Chewing pure mastic gum is linked to a variety of health advantages, notably improved digestion, dental cleanliness, and relief from gastrointestinal disorders, which contributes to its rising popularity among health-conscious customers. Pure mastic gum is also often considered a natural and traditional medicine, which adds to its market appeal.
Mastic gum’s distinct flavour and texture attract people looking for alternatives to traditional chewing gums. Furthermore, greater consumer knowledge of the detrimental effects of synthetic ingredients in ordinary chewing gums has resulted in a preference for natural alternatives such as pure mastic gum. As a consequence, the market for chewed pure mastic gum is growing, propelled by customer desires for healthy, organic, and sustainable goods.
Based on distribution channels, the market is classified into supermarkets, convenience stores, specialty stores, and others. Convenience stores segment dominated the market in 2022 with a market share of 45% and is expected to keep its dominance during the forecast period 2024-2032.
Convenience shops serve an important role in boosting the mastic gum business because of their accessibility and customer attractiveness. Furthermore, the impulse-buying characteristic of convenience store shopping may result in greater mastic gum sales, since customers are more inclined to make unplanned purchases while browsing.
Furthermore, the prevalence of convenience stores in metropolitan regions, where hectic lifestyles and on-the-go consumption are common, gives many opportunities for chewing gum makers to reach a diverse consumer base and drive market growth through strategic placement and marketing initiatives.
Based on application, the market is classified into food & beverage, pharmaceutical, personal care, and others. The food & beverage segment dominated the market in 2022 with a market share of 55% and is expected to keep its dominance during the forecast period 2024-2032.
The food and beverage sector dominates the mastic gum market, owing to its widespread usage as a natural food component and flavouring agent. In the food business, it is often used in confectionery, bakery items, chewing gum, drinks, and as a natural food preservative. Its antibacterial and antioxidant qualities make it ideal for extending the shelf life of food goods while retaining their quality and freshness.
Furthermore, rising consumer desire for organic and clean-label components in food and drinks drives up interest in mastic gum as an alternative to synthetic additives.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 350.8 Million |
| Projected Market Size in 2032 | USD 645.6 Million |
| Market Size in 2022 | USD 346.5 Million |
| CAGR Growth Rate | 8.1% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Distribution Channel, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Mastic Gum Market: Regional Analysis
By region, Mastic Gum market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Mastic Gum market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
The Asia-Pacific region drives the mastic gum market due to a variety of factors. Consumers in China, Japan, and South Korea are becoming more aware of and appreciate the health advantages of mastic gum, such as its digestive and dental health features.
Furthermore, the appeal of natural and traditional medicines in Asian cultures drives up the market for mastic gum-based goods. Moreover, the region’s growing population and rising disposable incomes lead to a higher need for mastic gum products.
In addition, the existence of a diversified food and beverage sector in countries such as India and Thailand encourages the use of mastic gum as a flavouring or functional ingredient, which supports market expansion in the Asia-Pacific region.
Mastic Gum Market: Recent Developments
- In September 2022, Naturevibe Botanicals introduced organic compounds in mastic gum capsules composed of wild harvested mastic gum resin. It manufactures goods using natural herbs and ingredients, which include Brahmi leaf capsules, aromatic oils like clove oil, and superfoods like Amla powder, Yacon root powder, and natural spices.
- In January 2021, Meridian Foods developed mastic chewing gums under its brand name Livante. The gum includes 100% pure Chios mastic gum, which strengthens teeth.
- In October 2021, Henry Lamotte Oils signed an exclusive distribution arrangement with the Chios Mastiha Growers Association to supply Chios mastic gum items across Germany.
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
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Mastic Gum Market is segmented as follows:
By Type
- Chewed Pure Mastic Gum
- Xylitol Mastic Gum
- Others
By Distribution Channel
- Supermarkets
- Convenience Stores
- Specialty Stores
- Others
By Application
- Food & Beverage
- Pharmaceutical
- Personal Care
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Mastic Gum Market, (2024 – 2033) (USD Billion)
- 2.2 Global Mastic Gum Market: snapshot
- Chapter 3. Global Mastic Gum Market – Industry Analysis
- 3.1 Mastic Gum Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Growing health awareness among consumers
- 3.2.2 Emerging applications in regenerative treatment
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Distribution Channel
- 3.7.3 Market Attractiveness Analysis By Application
- Chapter 4. Global Mastic Gum Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Mastic Gum Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Mastic Gum Market – Type Analysis
- 5.1 Global Mastic Gum Market Overview: By Type
- 5.1.1 Global Mastic Gum Market Share, By Type, 2022 and – 2033
- 5.2 Chewed Pure Mastic Gum
- 5.2.1 Global Mastic Gum Market by Chewed Pure Mastic Gum, 2024 – 2033 (USD Billion)
- 5.3 Xylitol Mastic Gum
- 5.3.1 Global Mastic Gum Market by Xylitol Mastic Gum, 2024 – 2033 (USD Billion)
- 5.4 Others
- 5.4.1 Global Mastic Gum Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Mastic Gum Market Overview: By Type
- Chapter 6. Global Mastic Gum Market – Distribution Channel Analysis
- 6.1 Global Mastic Gum Market Overview: By Distribution Channel
- 6.1.1 Global Mastic Gum Market Share, By Distribution Channel, 2022 and – 2033
- 6.2 Supermarkets
- 6.2.1 Global Mastic Gum Market by Supermarkets, 2024 – 2033 (USD Billion)
- 6.3 Convenience Stores
- 6.3.1 Global Mastic Gum Market by Convenience Stores, 2024 – 2033 (USD Billion)
- 6.4 Specialty Stores
- 6.4.1 Global Mastic Gum Market by Specialty Stores, 2024 – 2033 (USD Billion)
- 6.5 Others
- 6.5.1 Global Mastic Gum Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Mastic Gum Market Overview: By Distribution Channel
- Chapter 7. Global Mastic Gum Market – Application Analysis
- 7.1 Global Mastic Gum Market Overview: By Application
- 7.1.1 Global Mastic Gum Market Share, By Application, 2022 and – 2033
- 7.2 Food & Beverage
- 7.2.1 Global Mastic Gum Market by Food & Beverage, 2024 – 2033 (USD Billion)
- 7.3 Pharmaceutical
- 7.3.1 Global Mastic Gum Market by Pharmaceutical , 2024 – 2033 (USD Billion)
- 7.4 Personal Care
- 7.4.1 Global Mastic Gum Market by Personal Care, 2024 – 2033 (USD Billion)
- 7.5 Others
- 7.5.1 Global Mastic Gum Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Mastic Gum Market Overview: By Application
- Chapter 8. Mastic Gum Market – Regional Analysis
- 8.1 Global Mastic Gum Market Regional Overview
- 8.2 Global Mastic Gum Market Share, by Region, 2022 & – 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Mastic Gum Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.4 North America Mastic Gum Market, by Type, 2024 – 2033
- 8.4.1 North America Mastic Gum Market, by Type, 2024 – 2033 (USD Billion)
- 8.5 North America Mastic Gum Market, by Distribution Channel, 2024 – 2033
- 8.5.1 North America Mastic Gum Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 8.6 North America Mastic Gum Market, by Application, 2024 – 2033
- 8.6.1 North America Mastic Gum Market, by Application, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Mastic Gum Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Mastic Gum Market, by Type, 2024 – 2033
- 8.8.1 Europe Mastic Gum Market, by Type, 2024 – 2033 (USD Billion)
- 8.9 Europe Mastic Gum Market, by Distribution Channel, 2024 – 2033
- 8.9.1 Europe Mastic Gum Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 8.10 Europe Mastic Gum Market, by Application, 2024 – 2033
- 8.10.1 Europe Mastic Gum Market, by Application, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Mastic Gum Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Mastic Gum Market, by Type, 2024 – 2033
- 8.12.1 Asia Pacific Mastic Gum Market, by Type, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Mastic Gum Market, by Distribution Channel, 2024 – 2033
- 8.13.1 Asia Pacific Mastic Gum Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Mastic Gum Market, by Application, 2024 – 2033
- 8.14.1 Asia Pacific Mastic Gum Market, by Application, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Mastic Gum Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Mastic Gum Market, by Type, 2024 – 2033
- 8.16.1 Latin America Mastic Gum Market, by Type, 2024 – 2033 (USD Billion)
- 8.17 Latin America Mastic Gum Market, by Distribution Channel, 2024 – 2033
- 8.17.1 Latin America Mastic Gum Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 8.18 Latin America Mastic Gum Market, by Application, 2024 – 2033
- 8.18.1 Latin America Mastic Gum Market, by Application, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Mastic Gum Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Mastic Gum Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Mastic Gum Market, by Type, 2024 – 2033
- 8.20.1 The Middle-East and Africa Mastic Gum Market, by Type, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Mastic Gum Market, by Distribution Channel, 2024 – 2033
- 8.21.1 The Middle-East and Africa Mastic Gum Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Mastic Gum Market, by Application, 2024 – 2033
- 8.22.1 The Middle-East and Africa Mastic Gum Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Meridian Foods
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Norevo
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Chios Mastiha
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Latzinos
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Gum Technology
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Nature’s Goodness
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Nutra Green Biotechnology Co. Ltd.
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Herbafood Ingredients GmbH
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 The Mastic Spa
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Amidon Family Enterprises
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Henry Lamotte Oils
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Naturevibe Botanicals
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Lee Labs
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Alfa Chemicals
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Mastiha Exports
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Venkatesh Naturals
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Herbafood Ingredients GmbH
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 Mazaya Global
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Mediterranea Phytoest
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 Others.
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.1 Meridian Foods
List Of Figures
Figures No 1 to 27
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- 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
FAQs
The restraints of the Mastic Gum market is high costs compared to substitutes.
The major driver for the Mastic Gum market is growing health awareness among consumers and emerging applications in regenerative treatment.
The “Chewed Pure Mastic Gum” category dominated the market in 2022.
The key players in the market are 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.
“Asia-Pacific” had the largest share in the Mastic Gum Market.
The global market is projected to grow at a CAGR of 8.1% during the forecast period, 2023-2032.
The Mastic Gum Market size was valued at USD 350.8 Million in 2023.