NEWARK, Del, March 04, 2024 (GLOBE NEWSWIRE) -- The global chewable energy tablet market value is estimated to total US$ 478.9 million in 2024. It will likely exhibit a CAGR of 8.9% throughout the forecast period, totaling a valuation of US$ 1,120.6 million by 2034.
Consumers mostly prefer orange-flavored chewable energy tablets owing to their perceived health benefits and other advantages. As per the latest analysis, the orange flavor segment will likely progress at a CAGR of 5.6% through 2034.
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Several factors are predicted to fuel the growth of the chewable energy tablet industry during the assessment period. These include:
- Increasing demand for convenient and portable energy sources
- Growing health consciousness
- Rising preference of fitness enthusiasts towards chewable energy products
- Escalating demand for functional foods
- Availability of chewable energy tablets in a wide range of flavors
The market for chewable energy tablets is experiencing significant growth, driven by increasing consumer demand for convenient and portable energy-boosting products. These tablets offer an alternative to traditional energy drinks, shots, or caffeine pills, providing a quick and convenient way to boost energy levels on the go.
Chewable energy tablets are portable and easy to consume without the need for water. This is making them convenient for busy individuals, athletes, travelers, and students who need a quick energy boost anytime, anywhere.
Manufacturers offer a variety of formulations to cater to different preferences and dietary needs. Some chewable energy tablets contain caffeine derived from natural sources like green tea extract or guarana, while others may include vitamins, minerals, amino acids, or herbal extracts known for their energy-boosting properties.
As consumers become more health-conscious, there is a growing demand for energy products that provide sustained energy without the excessive sugar and calories found in many traditional energy drinks. Chewable energy tablets often contain low or no-sugar formulations, appealing to health-conscious consumers.
Companies in the chewable energy tablet market target specific consumer demographics, including athletes, students, professionals, and those leading active lifestyles. Marketing strategies focus on promoting the tablets' benefits, such as increased focus, alertness, and endurance, to resonate with their target audience.
Chewable energy tablets are widely available in pharmacies, convenience stores, supermarkets, and online retailers, making them easily accessible to consumers. Overall, the chewable energy tablet market is expected to continue growing as consumers seek convenient and effective solutions to support their energy needs in today's fast-paced lifestyles.
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Key Takeaways from the Chewable Energy Tablets Market Study:
- The global market for chewable energy tablets is set to total US$ 1,120.6 million by 2034.
- Based on ingredient type, the caffeine segment will account for a value share of 35.6% by 2034.
- By flavor, the orange segment is expected to hold a dominant market share of 54.3% in 2034.
- The United States market value is predicted to reach US$ 313.8 million in 2034.
- Chewable energy tablet demand in Japan is projected to expand at 7.1% CAGR through 2034.
“Persistent innovation in formulation, flavor, and packaging is essential to differentiate offerings and meet evolving consumer preferences for convenience, health, and taste. Strong marketing strategies that effectively communicate product benefits, target specific consumer demographics, and build brand loyalty are crucial for capturing market share and sustaining growth in a competitive market landscape,” - Nandini Roy Choudhury, Client Partner at Future Market Insights
Who is Winning?
A few of the leading chewable energy tablet manufacturers listed in the report include Nutra Healthcare Private Limited, Nirvana Being, Gnova Biotech Pvt.Ltd, Piping Rock, BNK Healthcare, Pharmaco Healthcare, Lift, GNC, Nature's Bounty, NOW Foods, NutraBio, Optimum Nutrition, BPI Sports, Cellucor, and Clif Bar.
Established brands with strong market presence and brand loyalty enjoy a competitive edge. They often invest in extensive marketing campaigns, sponsorships, and endorsements to maintain visibility and attract consumers.
Newer entrants can challenge incumbents by offering innovative products and disruptive marketing strategies. Pricing plays a significant role in competitive positioning. While premium brands may command higher prices based on perceived quality or exclusivity, budget-friendly options appeal to price-sensitive consumers.
Competitors continually adjust their pricing strategies to maintain competitiveness while ensuring profitability. Access to efficient distribution networks is critical for reaching target markets and gaining market share. Companies may leverage a combination of retail channels to maximize their profits.
Recent Development:
- In 2022, Ashland introduced a new Nutrapress organic chewable base for chewable dietary supplements.
Get Valuable Insights into the Chewable Energy Tablet Market:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the chewable energy tablet industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034. The study provides market growth projection based on ingredient type (vitamin C, vitamin B, zinc, caffeine, calcium, magnesium, others [chloride, sodium, potassium]), flavors (raspberry, blueberry, lemon & lime, orange, others (blackberry), and sales channel (hospital pharmacies, retail pharmacies, drug stores, online pharmacies, and hypermarkets/supermarkets) across seven major regions.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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