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Global Gums (Chewing Gum and Bubble Gum) Industry

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New York, July 11, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Gums (Chewing Gum and Bubble Gum) Industry” – https://www.reportlinker.com/p05442562/?utm_source=GNW
9 Billion in the year 2020, is projected to reach a revised size of US$38.6 Billion by 2027, growing at a CAGR of 3.7% over the analysis period 2020-2027.Bubble Gum, one of the segments analyzed in the report, is projected to grow at a 4% CAGR to reach US$28.9 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Chewing Gum segment is readjusted to a revised 2.1% CAGR for the next 7-year period. This segment currently accounts for a 11.7% share of the global Gums (Chewing Gum and Bubble Gum) market.

The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 6.8% CAGR for the Period of 2020-2027
The Gums (Chewing Gum and Bubble Gum) market in the U.S. is estimated at US$8.1 Billion in the year 2020. The country currently accounts for a 26.98% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$8.2 Billion in the year 2027 trailing a CAGR of 6.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.1% and 2.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.9% CAGR while Rest of European market (as defined in the study) will reach US$8.2 Billion by the year 2027.

Other Product Types Segment Corners a 14.9% Share in 2020
In the global Other Product Types segment, USA, Canada, Japan, China and Europe will drive the 3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.4 Billion in the year 2020 will reach a projected size of US$4.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.4 Billion by the year 2027, while Latin America will expand at a 4.4% CAGR through the analysis period. We bring years of research experience to this 16th edition of our report. The 213-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

– Competitors identified in this market include, among others,

  • Arcor Group
  • Cloetta AB
  • Ferndale Confectionery Pty Ltd.
  • Haribo GmbH & Co. Kg
  • Lotte Confectionery
  • Mars, Inc.
  • Meiji Holdings Company, Ltd.
  • Mondelez International
  • Peppersmith
  • Perfetti Van Melle
  • The Hershey Company
  • The Wm. Wrigley Jr. Company

Read the full report: https://www.reportlinker.com/p05442562/?utm_source=GNW

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Recent Market Activity
Gums: Confectionery with High Levels of Frequent Consumption
Gums: A Few Interesting Facts
Despite Concerns, Myriad Health Benefits Drive Steady Growth in
Gum Consumption
Market Fortunes Significantly Impacted by Trends in the
Confectionery Sector
Global Market Outlook
Emerging Markets Drive Future Market Growth
Global Competitor Market Shares
Gums (Chewing Gum and Bubble Gum) Competitor Market Share
Scenario Worldwide (in %): 2020 & 2029
Developed Regions: Traditional Revenue Contributors Reduce
Scope for Growth
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS
Arcor Group (Argentina)
Cloetta AB (Sweden)
Ferndale Confectionery Pty Ltd. (Australia)
Haribo GmbH & Co. Kg (Germany)
Lotte Confectionery (South Korea)
Mars, Incorporated (USA)
The Wm. Wrigley Jr. Company (USA)
Meiji Holdings Company, Ltd. (Japan)
Mondelez International, Inc. (USA)
Peppersmith (UK)
Perfetti Van Melle (Italy)
The Hershey Company (USA)
ZED Candy (Ireland)

3. MARKET TRENDS & DRIVERS
Evolving Role of Gums as a Functional Product Drive Market Demand
Gum Innovations and Advancements: Spearheading Growth
3D-Printed Chewing Gum
Chewing Gum for Relief from IBS Symptoms
Cannabis-Based Chewing Gum for Multiple Sclerosis Patients
Gum-tec Compounds from Recycled Chewing Gum
Chewing Gum to Ease Nausea
Chewing Gum for Weight Management
Sensor-Integrated Chewing Gum for Fitness Tracking
Green Chewing Gums
Jolt Energy Gum with Caffeine and Guarana
CBD (Cannabidiol) Chewing Gum
Innovative Flip-Top Packaging for Chewing Gums
Biodegradable Gums: The Next Big Thing in the Gums Market?
Nutraceutical Gum: Inexpensive and Effective
Medium for Delivering Medicinal Properties Offer Huge Market
Potential
Medium for Delivering Medicinal Properties Offer Huge Market
Potential
Localized Effects and Convenience Drive Demand for Medicated
Chewing Gum as a Drug Delivery System
A Plethora of Interesting Flavors Benefit Market Adoption
Flavor Preferences Vary by Region
“Bubble Gum Flavor”: Still the Popular Choice
Mint: All-Time Favorite
Sweet and Sour: A Unique Flavor
Changing Attitudes, Health and Product Safety Concerns
Influence Gum Packaging Formats
Increasing Prominence of Nicotine Replacement Therapies (NRTs)
Drive Demand for Anti-Smoking Gums
Growing Health Concerns Inflate Sales of Products with All-
Natural Ingredients
Shift in Consumer Preference from Mints to Breath-Freshening
Gum Augurs Well for the Market
Limiting Calorie Intake with Chewing Benefit Gums Demand in
Weight Management
Favorable Demographic and Economic Trends Strengthen Market
Prospects
Demographic Shift Prompts Adult-Specific Products
Rapid Urbanization
Increasing Affluence of the Ballooning Middle Class Population

4. GLOBAL MARKET PERSPECTIVE
Table 1: Gums (Chewing Gum and Bubble Gum) Global Market
Estimates and Forecasts in US$ Million by Region/Country:
2020-2027

Table 2: Gums (Chewing Gum and Bubble Gum) Global Retrospective
Market Scenario in US$ Million by Region/Country: 2012-2019

Table 3: Gums (Chewing Gum and Bubble Gum) Market Share Shift
across Key Geographies Worldwide: 2012 VS 2020 VS 2027

Table 4: Bubble Gum (Product Type) World Market by
Region/Country in US$ Million: 2020 to 2027

Table 5: Bubble Gum (Product Type) Historic Market Analysis by
Region/Country in US$ Million: 2012 to 2019

Table 6: Bubble Gum (Product Type) Market Share Breakdown of
Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027

Table 7: Chewing Gum (Product Type) Potential Growth Markets
Worldwide in US$ Million: 2020 to 2027

Table 8: Chewing Gum (Product Type) Historic Market Perspective
by Region/Country in US$ Million: 2012 to 2019

Table 9: Chewing Gum (Product Type) Market Sales Breakdown by
Region/Country in Percentage: 2012 VS 2020 VS 2027

Table 10: Other Product Types (Product Type) Geographic Market
Spread Worldwide in US$ Million: 2020 to 2027

Table 11: Other Product Types (Product Type) Region Wise
Breakdown of Global Historic Demand in US$ Million: 2012 to
2019

Table 12: Other Product Types (Product Type) Market Share
Distribution in Percentage by Region/Country: 2012 VS 2020 VS
2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
Market Facts & Figures
US Gums (Chewing Gum and Bubble Gum) Market Share (in %) by
Company: 2020 & 2025
Market Analytics
Table 13: United States Gums (Chewing Gum and Bubble Gum)
Market Estimates and Projections in US$ Million by Product
Type: 2020 to 2027

Table 14: Gums (Chewing Gum and Bubble Gum) Market in the
United States by Product Type: A Historic Review in US$ Million
for 2012-2019

Table 15: United States Gums (Chewing Gum and Bubble Gum)
Market Share Breakdown by Product Type: 2012 VS 2020 VS 2027

CANADA
Table 16: Canadian Gums (Chewing Gum and Bubble Gum) Market
Estimates and Forecasts in US$ Million by Product Type: 2020 to
2027

Table 17: Canadian Gums (Chewing Gum and Bubble Gum) Historic
Market Review by Product Type in US$ Million: 2012-2019

Table 18: Gums (Chewing Gum and Bubble Gum) Market in Canada:
Percentage Share Breakdown of Sales by Product Type for 2012,
2020, and 2027

JAPAN
Table 19: Japanese Market for Gums (Chewing Gum and Bubble
Gum): Annual Sales Estimates and Projections in US$ Million by
Product Type for the Period 2020-2027

Table 20: Gums (Chewing Gum and Bubble Gum) Market in Japan:
Historic Sales Analysis in US$ Million by Product Type for the
Period 2012-2019

Table 21: Japanese Gums (Chewing Gum and Bubble Gum) Market
Share Analysis by Product Type: 2012 VS 2020 VS 2027

CHINA
Table 22: Chinese Gums (Chewing Gum and Bubble Gum) Market
Growth Prospects in US$ Million by Product Type for the Period
2020-2027

Table 23: Gums (Chewing Gum and Bubble Gum) Historic Market
Analysis in China in US$ Million by Product Type: 2012-2019

Table 24: Chinese Gums (Chewing Gum and Bubble Gum) Market by
Product Type: Percentage Breakdown of Sales for 2012, 2020, and
2027

EUROPE
Market Facts & Figures
European Gums (Chewing Gum and Bubble Gum) Market: Competitor
Market Share Scenario (in %) for 2020 & 2025
Market Analytics
Table 25: European Gums (Chewing Gum and Bubble Gum) Market
Demand Scenario in US$ Million by Region/Country: 2020-2027

Table 26: Gums (Chewing Gum and Bubble Gum) Market in Europe:
A Historic Market Perspective in US$ Million by Region/Country
for the Period 2012-2019

Table 27: European Gums (Chewing Gum and Bubble Gum) Market
Share Shift by Region/Country: 2012 VS 2020 VS 2027

Table 28: European Gums (Chewing Gum and Bubble Gum) Market
Estimates and Forecasts in US$ Million by Product Type:
2020-2027

Table 29: Gums (Chewing Gum and Bubble Gum) Market in Europe in
US$ Million by Product Type: A Historic Review for the Period
2012-2019

Table 30: European Gums (Chewing Gum and Bubble Gum) Market
Share Breakdown by Product Type: 2012 VS 2020 VS 2027

FRANCE
Table 31: Gums (Chewing Gum and Bubble Gum) Market in France by
Product Type: Estimates and Projections in US$ Million for the
Period 2020-2027

Table 32: French Gums (Chewing Gum and Bubble Gum) Historic
Market Scenario in US$ Million by Product Type: 2012-2019

Table 33: French Gums (Chewing Gum and Bubble Gum) Market Share
Analysis by Product Type: 2012 VS 2020 VS 2027

GERMANY
Table 34: Gums (Chewing Gum and Bubble Gum) Market in Germany:
Recent Past, Current and Future Analysis in US$ Million by
Product Type for the Period 2020-2027

Table 35: German Gums (Chewing Gum and Bubble Gum) Historic
Market Analysis in US$ Million by Product Type: 2012-2019

Table 36: German Gums (Chewing Gum and Bubble Gum) Market Share
Breakdown by Product Type: 2012 VS 2020 VS 2027

ITALY
Table 37: Italian Gums (Chewing Gum and Bubble Gum) Market
Growth Prospects in US$ Million by Product Type for the Period
2020-2027

Table 38: Gums (Chewing Gum and Bubble Gum) Historic Market
Analysis in Italy in US$ Million by Product Type: 2012-2019

Table 39: Italian Gums (Chewing Gum and Bubble Gum) Market by
Product Type: Percentage Breakdown of Sales for 2012, 2020, and
2027

UNITED KINGDOM
Table 40: United Kingdom Market for Gums (Chewing Gum and
Bubble Gum): Annual Sales Estimates and Projections in US$
Million by Product Type for the Period 2020-2027

Table 41: Gums (Chewing Gum and Bubble Gum) Market in the
United Kingdom: Historic Sales Analysis in US$ Million by
Product Type for the Period 2012-2019

Table 42: United Kingdom Gums (Chewing Gum and Bubble Gum)
Market Share Analysis by Product Type: 2012 VS 2020 VS 2027

SPAIN
Table 43: Spanish Gums (Chewing Gum and Bubble Gum) Market
Estimates and Forecasts in US$ Million by Product Type: 2020 to
2027

Table 44: Spanish Gums (Chewing Gum and Bubble Gum) Historic
Market Review by Product Type in US$ Million: 2012-2019

Table 45: Gums (Chewing Gum and Bubble Gum) Market in Spain:
Percentage Share Breakdown of Sales by Product Type for 2012,
2020, and 2027

RUSSIA
Table 46: Russian Gums (Chewing Gum and Bubble Gum) Market
Estimates and Projections in US$ Million by Product Type: 2020
to 2027

Table 47: Gums (Chewing Gum and Bubble Gum) Market in Russia by
Product Type: A Historic Review in US$ Million for 2012-2019

Table 48: Russian Gums (Chewing Gum and Bubble Gum) Market
Share Breakdown by Product Type: 2012 VS 2020 VS 2027

REST OF EUROPE
Table 49: Rest of Europe Gums (Chewing Gum and Bubble Gum)
Market Estimates and Forecasts in US$ Million by Product Type:
2020-2027

Table 50: Gums (Chewing Gum and Bubble Gum) Market in Rest of
Europe in US$ Million by Product Type: A Historic Review for
the Period 2012-2019

Table 51: Rest of Europe Gums (Chewing Gum and Bubble Gum)
Market Share Breakdown by Product Type: 2012 VS 2020 VS 2027

ASIA-PACIFIC
Table 52: Asia-Pacific Gums (Chewing Gum and Bubble Gum) Market
Estimates and Forecasts in US$ Million by Region/Country:
2020-2027

Table 53: Gums (Chewing Gum and Bubble Gum) Market in
Asia-Pacific: Historic Market Analysis in US$ Million by
Region/Country for the Period 2012-2019

Table 54: Asia-Pacific Gums (Chewing Gum and Bubble Gum) Market
Share Analysis by Region/Country: 2012 VS 2020 VS 2027

Table 55: Gums (Chewing Gum and Bubble Gum) Market in
Asia-Pacific by Product Type: Estimates and Projections in US$
Million for the Period 2020-2027

Table 56: Asia-Pacific Gums (Chewing Gum and Bubble Gum)
Historic Market Scenario in US$ Million by Product Type:
2012-2019

Table 57: Asia-Pacific Gums (Chewing Gum and Bubble Gum) Market
Share Analysis by Product Type: 2012 VS 2020 VS 2027

AUSTRALIA
Table 58: Gums (Chewing Gum and Bubble Gum) Market in
Australia: Recent Past, Current and Future Analysis in US$
Million by Product Type for the Period 2020-2027

Table 59: Australian Gums (Chewing Gum and Bubble Gum) Historic
Market Analysis in US$ Million by Product Type: 2012-2019

Table 60: Australian Gums (Chewing Gum and Bubble Gum) Market
Share Breakdown by Product Type: 2012 VS 2020 VS 2027

INDIA
Table 61: Indian Gums (Chewing Gum and Bubble Gum) Market
Estimates and Forecasts in US$ Million by Product Type: 2020 to
2027

Table 62: Indian Gums (Chewing Gum and Bubble Gum) Historic
Market Review by Product Type in US$ Million: 2012-2019

Table 63: Gums (Chewing Gum and Bubble Gum) Market in India:
Percentage Share Breakdown of Sales by Product Type for 2012,
2020, and 2027

SOUTH KOREA
Table 64: Gums (Chewing Gum and Bubble Gum) Market in South
Korea: Recent Past, Current and Future Analysis in US$ Million
by Product Type for the Period 2020-2027

Table 65: South Korean Gums (Chewing Gum and Bubble Gum)
Historic Market Analysis in US$ Million by Product Type:
2012-2019

Table 66: Gums (Chewing Gum and Bubble Gum) Market Share
Distribution in South Korea by Product Type: 2012 VS 2020 VS
2027

REST OF ASIA-PACIFIC
Table 67: Rest of Asia-Pacific Market for Gums (Chewing Gum and
Bubble Gum): Annual Sales Estimates and Projections in US$
Million by Product Type for the Period 2020-2027

Table 68: Gums (Chewing Gum and Bubble Gum) Market in Rest of
Asia-Pacific: Historic Sales Analysis in US$ Million by Product
Type for the Period 2012-2019

Table 69: Rest of Asia-Pacific Gums (Chewing Gum and Bubble
Gum) Market Share Analysis by Product Type: 2012 VS 2020 VS
2027

LATIN AMERICA
Table 70: Latin American Gums (Chewing Gum and Bubble Gum)
Market Trends by Region/Country in US$ Million: 2020-2027

Table 71: Gums (Chewing Gum and Bubble Gum) Market in Latin
America in US$ Million by Region/Country: A Historic
Perspective for the Period 2012-2019

Table 72: Latin American Gums (Chewing Gum and Bubble Gum)
Market Percentage Breakdown of Sales by Region/Country: 2012,
2020, and 2027

Table 73: Latin American Gums (Chewing Gum and Bubble Gum)
Market Growth Prospects in US$ Million by Product Type for the
Period 2020-2027

Table 74: Gums (Chewing Gum and Bubble Gum) Historic Market
Analysis in Latin America in US$ Million by Product Type:
2012-2019

Table 75: Latin American Gums (Chewing Gum and Bubble Gum)
Market by Product Type: Percentage Breakdown of Sales for 2012,
2020, and 2027

ARGENTINA
Table 76: Argentinean Gums (Chewing Gum and Bubble Gum) Market
Estimates and Forecasts in US$ Million by Product Type:
2020-2027

Table 77: Gums (Chewing Gum and Bubble Gum) Market in Argentina
in US$ Million by Product Type: A Historic Review for the
Period 2012-2019

Table 78: Argentinean Gums (Chewing Gum and Bubble Gum) Market
Share Breakdown by Product Type: 2012 VS 2020 VS 2027

BRAZIL
Table 79: Gums (Chewing Gum and Bubble Gum) Market in Brazil by
Product Type: Estimates and Projections in US$ Million for the
Period 2020-2027

Table 80: Brazilian Gums (Chewing Gum and Bubble Gum) Historic
Market Scenario in US$ Million by Product Type: 2012-2019

Table 81: Brazilian Gums (Chewing Gum and Bubble Gum) Market
Share Analysis by Product Type: 2012 VS 2020 VS 2027

MEXICO
Table 82: Gums (Chewing Gum and Bubble Gum) Market in Mexico:
Recent Past, Current and Future Analysis in US$ Million by
Product Type for the Period 2020-2027

Table 83: Mexican Gums (Chewing Gum and Bubble Gum) Historic
Market Analysis in US$ Million by Product Type: 2012-2019

Table 84: Mexican Gums (Chewing Gum and Bubble Gum) Market
Share Breakdown by Product Type: 2012 VS 2020 VS 2027

REST OF LATIN AMERICA
Table 85: Rest of Latin America Gums (Chewing Gum and Bubble
Gum) Market Estimates and Projections in US$ Million by Product
Type: 2020 to 2027

Table 86: Gums (Chewing Gum and Bubble Gum) Market in Rest of
Latin America by Product Type: A Historic Review in US$ Million
for 2012-2019

Table 87: Rest of Latin America Gums (Chewing Gum and Bubble
Gum) Market Share Breakdown by Product Type: 2012 VS 2020 VS
2027

MIDDLE EAST
Table 88: The Middle East Gums (Chewing Gum and Bubble Gum)
Market Estimates and Forecasts in US$ Million by
Region/Country: 2020-2027

Table 89: Gums (Chewing Gum and Bubble Gum) Market in the
Middle East by Region/Country in US$ Million: 2012-2019

Table 90: The Middle East Gums (Chewing Gum and Bubble Gum)
Market Share Breakdown by Region/Country: 2012, 2020, and 2027

Table 91: The Middle East Gums (Chewing Gum and Bubble Gum)
Market Estimates and Forecasts in US$ Million by Product Type:
2020 to 2027

Table 92: The Middle East Gums (Chewing Gum and Bubble Gum)
Historic Market by Product Type in US$ Million: 2012-2019

Table 93: Gums (Chewing Gum and Bubble Gum) Market in the
Middle East: Percentage Share Breakdown of Sales by Product
Type for 2012,2020, and 2027

IRAN
Table 94: Iranian Market for Gums (Chewing Gum and Bubble Gum):
Annual Sales Estimates and Projections in US$ Million by
Product Type for the Period 2020-2027

Table 95: Gums (Chewing Gum and Bubble Gum) Market in Iran:
Historic Sales Analysis in US$ Million by Product Type for the
Period 2012-2019

Table 96: Iranian Gums (Chewing Gum and Bubble Gum) Market
Share Analysis by Product Type: 2012 VS 2020 VS 2027

ISRAEL
Table 97: Israeli Gums (Chewing Gum and Bubble Gum) Market
Estimates and Forecasts in US$ Million by Product Type:
2020-2027

Table 98: Gums (Chewing Gum and Bubble Gum) Market in Israel in
US$ Million by Product Type: A Historic Review for the Period
2012-2019

Table 99: Israeli Gums (Chewing Gum and Bubble Gum) Market
Share Breakdown by Product Type: 2012 VS 2020 VS 2027

SAUDI ARABIA
Table 100: Saudi Arabian Gums (Chewing Gum and Bubble Gum)
Market Growth Prospects in US$ Million by Product Type for the
Period 2020-2027

Table 101: Gums (Chewing Gum and Bubble Gum) Historic Market
Analysis in Saudi Arabia in US$ Million by Product Type:
2012-2019

Table 102: Saudi Arabian Gums (Chewing Gum and Bubble Gum)
Market by Product Type: Percentage Breakdown of Sales for 2012,
2020, and 2027

UNITED ARAB EMIRATES
Table 103: Gums (Chewing Gum and Bubble Gum) Market in the
United Arab Emirates: Recent Past, Current and Future Analysis
in US$ Million by Product Type for the Period 2020-2027

Table 104: United Arab Emirates Gums (Chewing Gum and Bubble
Gum) Historic Market Analysis in US$ Million by Product Type:
2012-2019

Table 105: Gums (Chewing Gum and Bubble Gum) Market Share
Distribution in United Arab Emirates by Product Type: 2012 VS
2020 VS 2027

REST OF MIDDLE EAST
Table 106: Gums (Chewing Gum and Bubble Gum) Market in Rest of
Middle East: Recent Past, Current and Future Analysis in US$
Million by Product Type for the Period 2020-2027

Table 107: Rest of Middle East Gums (Chewing Gum and Bubble
Gum) Historic Market Analysis in US$ Million by Product Type:
2012-2019

Table 108: Rest of Middle East Gums (Chewing Gum and Bubble
Gum) Market Share Breakdown by Product Type: 2012 VS 2020 VS
2027

AFRICA
Table 109: African Gums (Chewing Gum and Bubble Gum) Market
Estimates and Projections in US$ Million by Product Type: 2020
to 2027

Table 110: Gums (Chewing Gum and Bubble Gum) Market in Africa
by Product Type: A Historic Review in US$ Million for 2012-2019

Table 111: African Gums (Chewing Gum and Bubble Gum) Market
Share Breakdown by Product Type: 2012 VS 2020 VS 2027

IV. COMPETITION

Total Companies Profiled: 72
Read the full report: https://www.reportlinker.com/p05442562/?utm_source=GNW

About Reportlinker
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Source: https://markets.businessinsider.com/news/stocks/global-gums-chewing-gum-and-bubble-gum-industry-1029385352

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The Briefing: RVShare raises over $100M, Google disputes charges, and more

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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RVShare raises over $100M for RV rentals

RVShare, an online marketplace for RV rentals, reportedly raised over $100 million in a financing led by private equity firms KKR and Tritium Partners.

Akron, Ohio-based RVShare has seen sharp growth in demand amid the pandemic, as more would-be travelers seek socially distanced options for hitting the road. Founded in 2013, the company matches RV owners with prospective renters, filtering by location, price and vehicle types.

Previously, RVShare had raised $50 million in known funding, per Crunchbase data, from Tritium Partners. The company is one of several players in the RV rental space, and competes alongside Outdoorsy, a peer-to-peer RV marketplace that has raised $75 million in venture funding.

Funding news

  • BrightFarms closes on $100M: Indoor farming company BrightFarms said it secured more than $100 million in debt and new equity capital to support expansion plans. The Series E round of funding was led by Cox Enterprises, which now owns a majority stake in the company, and includes a follow-on investment from growth equity firm Catalyst Investors.
  • Anyscale inks $40MAnyscale, the Berkeley-based company behind the Ray open source project for building applications, announced $40 million in an oversubscribed Series B funding round. Existing investor NEA led the round and was joined by Andreessen Horowitz, Intel Capital and Foundation Capital. The new funding brings Anyscale’s total funding to more than $60 million.
  • Klar deposits $15M: Mexican fintech Klar closed on $15 million in Series A funding, led by Prosus Ventures, with participation from new investor International Finance Corporation and existing investors Quona Capital, Mouro Capital and Acrew. The round brings total funding raised to approximately $72 million since the company was founded in 2019. The funds are intended to grow Klar’s engineering capabilities in both its Berlin and Mexico hubs.
  • O(1) Labs rakes in $10.9M: O(1) Labs, the team behind the cryptocurrency Mina, announced $10.9 million in a strategic investment round. Co-leading the round are Bixin Ventures and Three Arrows Capital with participation from SNZ, HashKey Capital, Signum Capital, NGC Ventures, Fenbushi Capital and IOSG Ventures.
  • Blustream bags $3M: After-sale customer engagement company Blustream said it raised $3 million in seed funding for product usage data and digital transformation efforts for physical goods companies via the Blustream Product Experience Platform. York IE led the round of funding for the Worcester, Massachusetts-based company with additional support from existing investors.Pillar secures another $1.5M: Pillar, a startup that helps families protect and care for their loved ones, raised $1.5 million in a seed extension to close at $7 million, The round was led by Kleiner Perkins.

Other news

  • Google rejects DOJ antitrust arguments: In the wake of a widely anticipated U.S. Justice Department antitrust suit against Google, the search giant disputed the charges in a statement, maintaining that: “People use Google because they choose to, not because they’re forced to, or because they can’t find alternatives.”
  • Facebook said to test Nextdoor rival: Facebook is reportedly testing a service similar to popular neighborhood-focused social Nextdoor. Called Neighborhoods, the feature reportedly suggests local neighborhood groups to join on Facebook.

Illustration: Dom Guzman

Venture investors and leaders in the fintech space can visualize a future where such startups will move toward again rebundling services.

Root Inc., the parent company of Root Insurance, launched its initial public offering and is looking at a valuation of as much as $6.34 billion.

Clover Health posted rising revenues and a narrower loss in its most recent financial results, published in advance of a planned public market debut.

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Source: https://news.crunchbase.com/news/briefing-10-21-20/

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Crunchbase

Syte Sees $30M Series C For Product Discovery

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Online shopping has become the norm for most people in 2020, even coaxing traditional retail brands to up their presence to stay competitive. However, now that shoppers can’t see and touch products like they used to, e-commerce discovery has become a crucial element for customer acquisition and retention.

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Enter Syte, an Israel-based company that touts creating the world’s first product discovery platform that utilizes the senses, such as visual, text and voice, and then leverages visual artificial intelligence and next-generation personalization to create individualized and memorable customer experiences, Syte co-founder and CEO Ofer Fryman told Crunchbase News.

To execute on this, the company raised $30 million in Series C funding and an additional $10 million in debt. Viola Ventures led the round and was joined by LG Technology Ventures, La Maison, MizMaa Ventures and Kreos Capital, as well as existing investors Magma, Naver Corporation, Commerce Ventures, Storm Ventures, Axess Ventures, Remagine Media Ventures and KDS Media Fund.

This brings the company’s total fundraising to $71 million since its inception in 2015. That includes a $21.5 million Series B, also led by Viola, in 2019, according to Crunchbase data.

Fryman intends for the new funding to be put to work on product enhancements and geographic expansion. Syte already has an established customer base in Europe, the Middle East and Africa, and will now focus expansion in the U.S. and Asia-Pacific.

Meanwhile, Syte has grown 22 percent quarter over quarter, as well as experienced a 38 percent expansion of its customer base since the beginning of 2020.

“Since we crossed $1 million annual recurring revenue, we have been tripling revenue while also becoming more efficient,” Fryman said. “We can accelerate growth as well as build an amazing technology and solution for a business that needs it right now. We plan to grow further, and even though our SaaS metrics are excellent right now, our goal is to improve them.”

Anshul Agarwal, managing director at LG Technology Ventures, said Syte was an attractive investment due in part to its unique technology.

“They have a deep-learning system and have created a new category, product discovery that will enable online shopping in a way we never had the ability to do before,” Agarwal said. “The product market fit was also unique. We believe in the strong execution by the team and the rapid growth in SaaS. We looked at many different companies, and the SaaS metrics that Syte showed are the strongest we’ve seen in a while.”

Illustration: Li-Anne Dias

Venture investors and leaders in the fintech space can visualize a future where such startups will move toward again rebundling services.

Root Inc., the parent company of Root Insurance, launched its initial public offering and is looking at a valuation of as much as $6.34 billion.

Clover Health posted rising revenues and a narrower loss in its most recent financial results, published in advance of a planned public market debut.

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Source: https://news.crunchbase.com/news/syte-sees-30m-series-c-for-product-discovery/

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GenTech Proudly Secures Deal with TruLife Distribution to Drive Growth in SINFIT Digital Sales

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Denver, CO, October 21, 2020 – OTC PR WIRE – GenTech Holdings, Inc. (OTC PINK: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end Premium Coffee (www.secretjavas.com), Hemp Wellness (www.hakunasupply.com) and Functional Foods (www.SINFITnutrition.com) marketplaces, along with its SINFIT Nutrition brand (“SINFIT”), is excited to announce that the Company has signed a new marketing, sales, and distribution agreement (the “Agreement”) with TruLife Distribution (“TruLife”) (TruLifeDist.com), a leader in marketing, distribution, compliance, e-commerce, and advisory services in the Functional Foods marketplace. The main focus of the new Agreement will be to accelerate the growth of e-commerce sales of SINFIT products, particularly over the Amazon.com platform.

TruLife provides direct access to sales on Amazon, Walmart, Rakuten, Wish, TopHatter, and other top e-commerce platforms, allowing clients to instantly list, ship, and sell products through any major platform, with an experienced team of experts and a proven track record of success in brand placement and digital sales strategies.

“We have already demonstrated a significant & expansive growth curve since taking control of the SINFIT brand in June,” commented Harold Vaca, VP Domestic Sales of SINFIT. “But the vast majority of that growth has been driven by large purchase orders from major distribution partners, both domestic and international. We are also committed to aggressively pursuing end-market consumer direct purchases through our e-commerce footprint, which will provide additional growth and diversify our cash flow ecosystem, making our overall strategy less dependent upon any one source of demand, while driving further growth in total sales.”

Management notes that e-commerce sales represent a sizeable portion of overall retail sales growth worldwide, with more than $3.5 trillion in online sales accounting for over 14% of total pre-pandemic global retail sales. Since the onset of the global health crisis, that ratio has shifted decisively further in favor of e-commerce sales, which is not likely to entirely revert back upon the advent of a viable and widely accessible vaccine.

Vaca added, “We have seen an epic process of market penetration for e-commerce platforms this year as major online retailers have begun to reach a much wider base of consumers – people who haven’t ever shopped much online, but have been forced to during recent months out of personal health concerns. Many of them will almost certainly continue to make use of e-commerce now that they have tried it out, at least to some extent, making e-commerce an essential sales channel for SINFIT products. TruLife has the network, team, experience, and resources to dramatically augment our e-commerce performance.”

SINFIT branded products registered over $2.2 million in global sales in 2019, and are now approved for sale and available for purchase on the Walmart.com and Amazon.com e-commerce platforms as well as in over 2,500 GNC locations in North America and over 10,000 global physical and e-commerce stores across more than 10 countries around the world.

SINFIT products as well-positioned relative to peers and to the long-term macro tailwind defining the functional foods market, which saw sales top $267 billion in February of this year on a global basis, with sales in the US reaching $63 billion, according to Euromonitor 2020. This trend is part of a larger supportive momentum in the general category, with global sales of organic food and drink topping $105 billion in 2018 (Ecovia 2019). U.S. organic food sales also reached $47.9 billion, up 5.9% in 2018 (OTA 2019). In 2019, 77% of U.S. adults used dietary supplements, an all-time high (CRN 2019). U.S. supplement sales are estimated to have reached $49.3 billion in 2019, up 6.2% (NBJ 2019).

About GenTech Holdings, Inc.:

GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas, owns a Functional Food company, SINFIT Nutrition and recently closed its acquisition on Products-Groups’ “Hakuna Supply”.

Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.

Corporate Contact:
invest@gentech.group

www.gentechholdings.com

Source: https://otcprwire.com/gentech-proudly-secures-deal-with-trulife-distribution-to-drive-growth-in-sinfit-digital-sales/

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