Of late, the global energy chews market is reporting a strong growth in its valuation. With the rising popularity of energy chew products among athletes, thanks to the low cost and the convenience of carrying these products. As energy chew products provide instant energy to athletes, their popularity is likely to remain escalating in the near future, which eventually will reflect on their sales, leading to a definitive growth of this market.
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The increasing trend of convenience packaging across the world is the main factor that has been boosting the demand for energy chew products among consumers. Consumers, with their extremely fast-paced lifestyles, are preferring food products that they can use on-the-go. This, as a result, is leading to a significantly increased demand for handy energy chews, which, people can carry easily in their pockets.
The rising awareness regarding the adverse impacts of adulterated drugs among consumers is also influencing the sales of energy chews, which is likely to propel this market in the near future.
Fixed flavored or fusion flavored energy chews are expected to report promising growth in the near future, thanks to their distinctive taste. Nut flavored and fruit flavored energy chew products are also expected to enjoy steady rise in the demand over the next few years. Retail stores have surfaced as the leading distribution channels for the sale of energy chew products. However, online store is likely to gain momentum in the years to come.
Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa (MEA) are the main regional markets for energy chews across the world. North America, among these, has been leading the overall market, since it is the most prominent consumer as well as producer of energy chew products, worldwide. This regional market is anticipated to remain dominant over the next few years; however, Asia Pacific is likely to report a more fast-paced growth in the years to come, with countries, such and India, China, and Australia generating significant revenue.
The presence of a large number of retail outlets, together with a wide consumer base, is also projected to propel the energy chews market in Asia Pacific in the near future. The markets for energy chews in Latin America and the Middle East and Africa are also anticipated to witness strong growth over the forthcoming years.
With a number of established players, the global market for energy chews is demonstrating a highly competitive landscape. EN-R-G Foods Inc., PowerBar Inc., Clif Bar & Co., General Mills Inc. (Nature Valley), The Gatorade Co. Inc., Human Foods Inc. are some of the leading players in this market. Currently, they are focusing on products and price differentiation to compete with their peers. However, they are likely to shift their focus towards expanding in various regional markets in the years to come in order to gain an edge over their competitors. They are also expected to involve into strategic partnerships with small players as a part of the consolidation activity in the near future.