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.
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.
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Covid-19 Scenario
Manufacturing activities of energy gums stopped partially or completely due to lockdown restrictions across many countries. Moreover, supply chain disruptions and raw materials shortages created challenges in conducting manufacturing with full capacity.
The demand from application industries such as sports and fitness exercises rolled down significantly due to stoppage of sports events and closure of fitness centers during the lockdown. However, the demand is expected to grow steadily post-lockdown as sports and fitness activities begin.
The fitness training/exercise segment to continue its lead position during the forecast period
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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The online segment to continue its leadership status during the forecast period
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.
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.
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Leading Market 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
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