Energy Gum Market will Land $192.1 Million | Food and Beverage industry Booming worldwide | CAGR of 8.2%

Allied Market Research published a report, titled, "Energy Gum Market by Application (Fitness Training/Exercising, Sports, Study, Business, and Others), Flavor (Mint, Fruit Flavor, and Others), and Distribution Channel (Online, Supermarket, Convenience Stores, and Health Stores): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global energy gum industry generated $89.5 million in 2021, and is estimated to reach $192.1 million by 2031, witnessing a CAGR of 8.2% from 2022 to 2031.

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Drivers, Restraints, and Opportunities

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.

Key Players Are:

The players operating in the global energy gum market have adopted various developmental strategies to expand their energy gum market share, increase profitability, and remain competitive in the market.The key players profiled in this report include Blast Power Gum, Blockhead HQ Ltd., Ferrero SpA, GelStat Corporation (Mastix LLC), GumRunners, LLC, Lotte Group, Mars Inc., Mondelez International, Inc., NeuroGum, LLC, and Yıldız Holding.

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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.

Regional Outlook:

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.

Reason to Buy:

✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Energy Gum Market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the Energy Gum Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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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.

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