Energy Chews Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
Energy chews are the newest format of energy providing supplement which is gaining its popularity to significant rate. Energy chews is very popular amongst the athletes as is very convenient to carry and offers instant energy at a very low cost. Energy chews comes in various flavors, but the fruity flavor is the most popular among the young athletes. Some manufacturers add caffeine in order to fortify the product. Energy chews are generally jelly in nature and comes in two variant, conventional and organic. The organic energy chew contains almost 96% of organic ingredients and is slowly gaining traction the market.
Energy chews market is segment on the basis of nature, flavors, distribution channel and region. On the basis of nature the market is segmented into organic and conventional. On the basis of flavors the market is segmented into fruit flavor, chocolate flavor, nut flavor, and mixed flavors. Among all these segment mixed flavor or can say fusion flavor is expected to grow enormously in the coming future, followed by nuts flavor segment. The fruit flavor can be further segmented into strawberry, banana, blackcurrant, lemon, orange and watermelon. On the basis of distribution channel the market is segmented into supermarkets/hypermarkets, convenience stores, medical stores and online store. Online store is expected to hold a relatively high share in the energy chews market. Online stores have also contributed significantly in the growth of energy chews market over the forecast period.
Market Regional Outlook:
Regional segment for the market of energy chews is divided into five different regions: North America, Latin America, Europe, Asia Pacific and MEA. Among these segment North America is expected to have the major market share globally, as it is the largest producer and consumer of energy chews products. In Asia Pacific region the countries like China, Australia and India are generating the major revenue. While APEJ region is estimated to account the highest CAGR, owing to a higher number of retail outlets, combined with larger consumer base than any other region. The Latin America market is expected to grow significantly over the forecast period, but is anticipated to account for a lower growth rate than the APEJ region, owing to a greater number of emerging economies in APEJ.
The preference for energy chews is primarily driven by growing demand for convenience packaging across the globe. Fast-paced lifestyle in these regions has resulted in many people preferring on-the-go food items. This leads to increased sales of handy energy chews, which can be carried easily in the pocket. In the recent past, consumers have shown growing preference for portable, efficient and convenience packaging and sachets to meet all the three requirements. This factor is expected to drive growth of the market in the forecast period.
Consumer awareness about potential adverse effects of adulterated drugs is increasing in various developed countries across the globe. Rising health awareness has led to rising preference for energy chews and energy drinks among consumers worldwide. In addition, consumers are more aware of the various nutritional values of fruits and vegetables, and the associated health benefits such as increasing antioxidant levels, reduced risks of metabolic diseases including obesity and diabetes, related with consumption.
Currently, manufacturers are more focused on manufacturing energy chews which are more nutritive and healthier. Manufacturers are focusing on natural ingredients such as fruits and vegetable into their products without hampering the nutritional value, and thus can be considered relatively more natural than chemically synthesized equivalents.
Concentration in the retail sector is shifting from producers to retailers, leading to development of partnerships, or horizontal integration of the food supply chain. Another significant trend is increasing dominance of private label products, food products manufactured or provided by one company for sale under another’s brand (WalMart, Tesco etc.). This means that a company’s own brand products compete on the shelf with other (usually cheaper) products, but under the retailer’s brand. According to a study (Fearne & Dedman 2000), almost half of all foods purchased in the U.K. supermarkets are private label products. An important implication is that food retailers can exert considerable influence and control over manufacturers because they can change suppliers for private label products.
Market Key Players:
Some of the key players in energy chews Market are PowerBar, Inc., EN-R-G Foods Inc., Clif Bar & Company, The Gatorade Company, Inc., General Mills, Inc. (Nature Valley), Humm Foods, Inc. among others.
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