Consumers are looking for alternatives to traditional energy drinks & supplements that are portable, quick to consume, and provide an immediate boost in energy.
WILMINGTON, DELAWARE, USA, August 27, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Energy Gum Market," The energy gum market was valued at $106.40 million in 2023, and is estimated to reach $263.4 million by 2035, growing at a CAGR of 7.9% from 2024 to 2035.
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Energy gum, also known as caffeinated gum, is a type of energy supplement, which provides physical as well as mental stimulation and gives instant energy. The gum bases and other formulation ingredients such as caffeine, taurine, and B vitamins are infused together to prepare energy gum. It improves the mental and cognitive performance of an individual. It contains caffeine, which is effective for sustaining physical vigilance, taurine, and B vitamins and helps to provide several health benefits such as improved reaction time, alertness, and concentration. Moreover, energy gum helps in the prevention of cardiovascular disease, cancer, and diabetes, thus the consumption of energy gum has increased among individuals.
The Energy Gum Industry is segmented into application, flavor, distribution channel, and region. By application, the energy gum market is divided into fitness training/exercising, sports, study, business, and others. Among these, the fitness training/exercising segment occupied the major share of the market in 2023 and is anticipated to maintain its dominance during the forecast period. Fitness enthusiasts and athletes constantly seek convenient, on-the-go energy sources to enhance their performance and endurance. Energy gums provide a portable and easy-to-consume alternative to energy drinks and supplements, fitting seamlessly into their active lifestyles. Moreover, energy gums offer a quick release of caffeine and other stimulants, which can be rapidly absorbed through the oral mucosa. This immediate energy boost is crucial for improving performance during workouts and competitive sports, making energy gums particularly attractive to this segment and contribute to Energy Gum Market Growth.
By flavor, the energy gum market is segregated into mint, fruit flavors, and others. Among these, mint occupied the major share of the market in 2023 and is anticipated to maintain its dominance during the forecast period. According to Energy Gum Market Analysis, mint is a universally popular and widely accepted flavor, making it an attractive choice for a broad range of consumers. Its refreshing and invigorating taste appeals to many, ensuring a wide consumer base. Moreover, it provides an immediate sense of freshness, which complements the stimulating effects of caffeine and other energizing ingredients in energy gums. This dual benefit of energy and refreshment makes mint-flavored energy gums highly desirable. In addition, mint's versatility allows it to be effectively combined with various other ingredients, enhancing the overall taste profile and masking any potential bitterness from stimulants such as caffeine. According to Energy Gum Market Trend, this makes it easier for manufacturers to create palatable products that appeal to a wider audience.
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By distribution channel, the energy gum market is segregated into online, supermarkets, convenience stores, and health stores. Among these, the health stores segment occupied the major share of the market in 2023 and is anticipated to maintain its dominance during the forecast period. Health stores cater to a demographic that is particularly health-conscious and interested in wellness products. These consumers are more likely to seek out and purchase functional products such as energy gums that align with their lifestyle and fitness goals. Moreover, products sold in health stores are often perceived as high-quality and reliable. This trust encourages consumers to try new products such as energy gum and also provides confidence in the store's curation and product standards, providing Energy Gum Market Opportunities. In addition, health stores typically employ knowledgeable staff who can educate customers about the benefits and proper use of energy gums. This personalized guidance helps consumers make informed decisions, increasing the likelihood of purchase and increasing the Energy Gum Market Size.
By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among these, North America occupied the major share of the market in 2023 and is anticipated to maintain its dominance during the forecast period. According to Energy Gum Market Forecast, the region has a significant portion of the population engaged in regular exercise, sports, and fitness activities. This health-conscious demographic drives the demand for convenient energy-boosting products such as energy gums. Moreover, North America has a well-established market for functional food and beverages. Consumers are increasingly seeking products that offer specific health benefits, which has propelled the popularity of energy gums that provide quick energy and additional functionalities. The presence of a robust retail infrastructure, including health stores, gyms, supermarkets, and online platforms, ensures widespread availability and distribution of energy gums and increasing the Energy Gum Market Share.
The key players operating in the energy gum market are POWER GUM, Viter Energy, Rev Gum, GumRunners, LLC, NeuroGum, LLC, Military Energy Gum, Run Gum, Liquid Core Store, First Energy Gum and Blockhead HQ Ltd.
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Key Findings of the Study
By application, the fitness training/exercising segment was the highest revenue contributor to the market in 2023.
By flavor, the mint segment was the largest segment in the global luggage market in 2023.
By distribution channel, the health store segment was the largest segment in 2023.
Region-wise, North America was the highest revenue contributor in 2023.
David Correa
Allied Market Research
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