PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424498
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424498
The mastic gum market size is expected to reach US$ 587.9 Million by 2030, from US$ 345.3 Million in 2023, at a CAGR of 7.9% during the forecast period.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023/2024: | US$ 345.3 Mn |
Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 7.90% | 2030/2031 Value Projection: | US$ 587.9 Mn |
Mastic gum, also known as Mastiha, is a resinous substance derived from the Pistacia lentiscus tree, which is native to the Mediterranean region. This unique gum has been prized for its medicinal and therapeutic properties for centuries. The use of mastic gum dates back to ancient times, where it was highly valued by the Greeks and Romans for its ability to improve digestive health and promote oral hygiene.
In recent years, there has been a resurgence of interest in mastic gum due to its potential health benefits. Studies have suggested that mastic gum may have anti-inflammatory, antimicrobial, and antioxidant properties, making it a promising natural remedy for a variety of health conditions. It has been used to alleviate symptoms of digestive disorders such as acid reflux, gastritis, and peptic ulcers, as well as to improve oral health by reducing plaque formation and preventing gum disease.
The global mastic gum market is expected to witness significant growth in the coming years. Several factors are driving this growth. Firstly, increasing consumer awareness about the potential health benefits of mastic gum is fueling the demand for products containing this natural ingredient. As consumers become more health-conscious and seek natural alternatives to traditional medications, mastic gum is emerging as a popular choice.
Additionally, the growing prevalence of digestive disorders and oral health issues is also contributing to the market growth. The rise in cases of gastrointestinal disorders caused by an unhealthy lifestyle and poor dietary habits has led to an increased demand for natural remedies, such as mastic gum, that can help alleviate these conditions. Similarly, the rise in oral health problems, such as gum disease and dental cavities, is driving the demand for mastic gum-based oral care products.
However, there are certain challenges that may hinder the market growth. Limited availability of mastic gum, as it is produced mainly in specific regions, could pose supply chain constraints. Furthermore, lack of awareness about mastic gum and its benefits in some regions may impede its market growth potential.
Nevertheless, there are several opportunities in the market that can be tapped into. Expanding distribution channels and increasing product availability across different regions can help to capitalize on the growing demand for mastic gum. Additionally, research and development efforts focused on developing innovative and convenient mastic gum products could further stimulate the market growth.
Mastic Gum Market Segmentation