Energy Gum Market is expected to grow at 8.2% CAGR through 2022 to 2031, reaching US$ 192.1 million

Increase in consumption of health and energy supplements by non-traditional users drives the energy gum market growth

PORTLAND, OR, US, September 21, 2023/EINPresswire.com/ -- Rise in sports participation and surge in the number of fitness and health centers drive the growth of the global Energy Gum Market. However, stringent regulations by governing bodies restrain the market growth. On the other hand, interest among millennials toward health & fitness supplement products and rise in demand from emerging economies create new opportunities in the coming years.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐎𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/4579

The global energy gum market size was valued at $89.5 million in 2021, and is projected to reach $192.1million by 2031, registering a CAGR of 8.2% from 2022 to 2031. In 2021, the fitness training/exercising segment accounted for approximately 33% of the global market in terms of value.

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Blast Power Gum
Blockhead HQ Ltd.
Ferrero SpA
GelStat Corporation (Mastix LLC)
GumRunners, LLC
Lotte Group
Mars Inc.
Mondelez International, Inc.
NeuroGum, LLC
Yıldız Holding

Based on application, the fitness training/exercise segment accounted for the highest share in 2020, contributing to around one-third of the global energy gum market, and is expected to continue its lead position during the forecast period. This is due to wide usage by fitness enthusiasts. However, the sports segment is estimated to manifest the largest CAGR of 9.7% from 2022 to 2031, owing to increased consumption of energy gums in consumers.

Sportsperson and military personnel are the traditional users of energy gum for obtaining instant energy and relieve mental and physical stress. In addition, increase in sport participation and surge in the number of fitness centers in countries such as the U.S., Brazil, Germany, the UK, Australia, China, and India fuel the growth of energy gum market opportunities.

𝐁𝐮𝐲 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/checkout-final/dffb55953e6208cc20690cf17575ea62

Energy gum is majorly consumed by individuals before and after fitness training/exercise regime to increase stamina and improve overall performance. Moreover, increase in sport participation and surge in the number of national and international sports events, including Olympics, and Commonwealth Games have contributed to the growth of the market. Countries such as India, China, and Brazil have heavily invested in promoting national and international sports.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

North America to maintain its dominance in terms of revenue by 2031

Based on region, North America contributed to the highest market share in 2020, accounting for more than one-third of the global energy gum market, and is expected to maintain its dominance in terms of revenue by 2031. This is due to increase in awareness and rise in marketing activities in developing countries such as U.S., Canada, and Mexico. However, Asia-Pacific is projected to register the fastest CAGR of 9.9% during the forecast period, owing to increase in westernization and adaption of innovative energy gum products among consumers.

In terms of value, Asia-Pacific and LAMEA collectively contributed approximately one-third share of the global market in 2021. Developing countries, such as Brazil, India, and China display a huge growth potential for this market on account of high disposable income, decent number of millennial population participating in sports, and surge in the number of fitness centers in these countries.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/4579

Based on sales channel, the online segment held the highest share in 2020, accounting for nearly two-fifths of the global energy gum market, and is projected to continue its leadership status during the forecast period. This is attributed to increased association of the internet and e-shopping with consumers in developing regions. However, the supermarkets segment is expected to portray the highest CAGR of 9.3% from 2022 to 2031, owing to increased availability of energy gums in supermarkets.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

On the basis of energy gum market analysis for region, North America accounted for the largest revenue shareof the global market, registering a significant CAGR from 2022 to 2031, followed by Europe.

On the basis of energy gum market trends in 2021, the supermarket distribution channel segment accounted for approximately 30% share, in terms of value, and is expected to grow at the highest CAGR of 9.3%.

Asia-Pacific is anticipated to grow at the highest CAGR of 9.9% from 2022 to 2031 in the energy gum market forecast period.

In 2021, the U.S. generated the highest revenue, accounting for approximately 30% share of the global market.

Brazil is anticipated to grow at a significant CAGR of 7.1% during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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