Energy Gum Market size in 2019 is estimated to be $93.5 million, growing at a CAGR of 7.6% during the forecast period 2020-2025. Energy Gum are also known as energy caffeinated gum which provide physical and mental stimulation and instant burst of energy. Energy gum is an energy-rich flavor-filled gum, which is a fast and effective manner to deliver instant energy to improve mental alertness. Increasing awareness towards fitness and increasing rate in sport participation are the major factors driving the growth of the market. Moreover, changing lifestyle and increasing investment in R&D activities further enhance the overall market demand for Energy Gum during the forecast period 2020-2025.
Application – Segment Analysis
Based on the Application, Energy Gum Market is segmented into Fitness Training/Exercising, and Others. The Fitness Training/Exercising segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 6.4% during the forecast period 2020-2025. This is mainly owing to increasing the participation in fitness activities and increase in consumption of energy supplements. Moreover, increasing the need of fast energy boosters are contributing to the growth of this segment.
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Distribution Channel – Segment Analysis
Based on the Distribution Channel, Energy Gum Market is segmented into Supermarkets, Convenient Stores, Specialty Retailers, Online Stores, and Others. In 2019, online stores held the largest share in the Energy Gum market. This is mainly owing to increasing the popularity of e-commerce and changing in purchasing habits. Moreover, availability of anytime purchasing facility and increasing busy schedule and is also contributing to the growth of this segment.
Geography – Segment Analysis
North America dominated the energy gum market share accounting for 40% of the market in 2019. This is mainly owing to increasing in health awareness and higher participation rate of youngsters in sports.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing awareness among people about health, growing geriatric population, increasing the number of fitness center and changing food habits.
Drivers – Energy Gum Market
Increasing Awareness Towards Fitness
Increasing awareness towards fitness and increasing adoption of healthy eating habits are some factors driving the growth of Energy Gum market. Moreover, increasing the number of fitness center and changing lifestyle is also set to increase the market growth.
Increasing Rate in Sport Participation
Increasing rate in sport participation and increase in the number of healthcare center are some factors driving the growth of the market. Moreover, number of youngsters choosing sports as a career option further contributing to the growth of Energy Gum Market.
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Challenges – Energy Gum Market
High cost of raw materials and availability of alternative products are challenging the growth of the market. Moreover, increasing side effects such as anxiety, digestive issues, muscle breakdown, high blood pressure, stomach irritation, nausea, and vomiting are further restraining its market growth during the forecast period 2020-2025.
Energy Gum Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Energy Gum Market. Energy Gum top 10 companies are Blast Power Gum, BLOCKHEAD HQ Ltd., Mondelez International, Inc. (Cadbury Trebor Bassett), Energy Bombs, GumRunners, LLC, Lotte Group, GelStat Corporation (Mastix LLC), NeuroGum, LLC, Mars Inc. (Wm Wrigley), and Zestl International NZ Ltd.
On 24 June 2016, Gelstat has acquisition with Windmill Health and launches new products “CHEWS 2 LOSE” which provides nutritional supplements.
On 12 September 2019, Mars has acquisition with Innit Inc. to develop the food industry and provide proper nutrition to the consumers.
In 2019, North America dominates the Energy Gum Market owing to increasing in health awareness and higher participation rate of youngsters in sports.
Increasing awareness towards fitness and increasing rate in sport participation is driving the market growth of energy gum.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Energy Gum market report.
High cost of raw materials and availability of alternative products are challenging the growth of the market.
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