Energy Gum Market by Application (Fitness Training/Exercising, Sports, Study, Business, and Others), and Distribution Channel (Online, Supermarket, Convenience Stores, and Health Stores) - Global Opportunity Analysis and Industry Forecast, 2017-2023
The global energy gum market was valued at $75.15 million in 2016 and is projected to reach $125.24 million by 2023, registering a CAGR of 7.6% from 2017 to 2023. Energy gum a caffeine-rich gum that provides instant energy to alleviate the effects of sleep deprivation and fatigue as well as improve alertness and mental performance. It works by improving reaction time, alertness, concentration, and cognitive performance, particularly under conditions where sustained vigilance is necessary and the effects of sleep deprivation could be detrimental. Caffeine, being the prime ingredient of energy gums, proves effective in sustaining physical vigilance and prevents cardiovascular diseases, cancer, and diabetes. Energy gum is prepared by softening gum bases, followed by the addition of other formulation ingredients. Sugar, aspartame, liquid glucose, sorbitol, mannitol, xylitol, and various flavors are the other ingredients used in the manufacturing to reduce bitterness and improve taste. Energy gums have witnessed an upheaval among fitness conscious individuals who regularly consume sport nutrition and fitness supplements.
The consumption of energy gum lead to instant delivery of energy as well as prolonged effects such as better physical and mental performance during intense workouts, improved concentration, and low fatigue during labor-intensive tasks among others. In addition, in the recent years, the consumption of energy gums has increased while playing sports, studying, and business meetings to mitigate the effects of sleep deprivation and boost up their stamina; thereby, driving the energy gum market. The use of natural ingredients and increase in awareness about the benefits among millennials are expected to present new opportunities for energy gum manufacturers during the forecast period. According to the World Bank, the total labor force of India was pegged at 520.20 million in 2017 as compared to 512.76 million in 2016. Thus, growing labor force in emerging economies, such as India & China, is expected to boost the growth of the energy gum market. As excessive intake of caffeine could cause side effects like anxiety, digestive issues, muscle breakdown, high blood pressure, stomach irritation, nausea, and vomiting, food governing and health agencies such as Food and Drug Administration (FDA), Health Canada, International Food Information Council (IFIC) and others have enacted laws and norms to monitor the use of caffeine as an energy supplement. Thus, stringent laws on the use of caffeinated products could hamper the market growth in the near future.
The global energy gum market is segmented on the basis of application, distribution channel, and geography. On the basis of application, the market is segmented into fitness training/exercising, sports, study, business, and others. The distribution channels of the industry are broadly classified into online, supermarket, convenience store, and health store segments. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.The prominent players operating in this market are:
Blast Power Gum
BLOCKHEAD HQ Ltd.
Mondelez International, Inc. (Cadbury Trebor Bassett)
GelStat Corporation (Mastix LLC)
Mars Inc. (Wm Wrigley)
Zestél International NZ Ltd.
KEY BENEFITS FOR STAKEHOLDERS:
This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global energy gum market for the period of 2016-2023 to identify the prevailing market opportunities.
The key countries in all the majors regions have been mapped based on their market share.
Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierÃ¢â‚¬Âbuyer network.
In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
Major countries in each region have been mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
The report includes in details the analysis of the regional as well as global market, key players, market segments, and application areas, and growth strategies.
KEY MARKET SEGMENTS:
By Distribution Channel
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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