Growing demand from consumers for gummy vitamins due to the variety in the taste and shape is the major factor influencing market growth.
Market Size – USD 6.70 Billion in 2021, Market Growth – CAGR of 4.7 %, Market Trends –Global penetration of new and innovative gummy vitamin products manufactured by the organic formulations
The global Gummy Vitamins Market is expected to reach USD 19.90 Billion by 2030, according to a new report by Reports and Data. This can be mainly associated with the high growing demand from consumers for gummy vitamins due to the variety in the taste and shape globally. Based on statistics, increased occurrences of malnutrition and undernourished children in the various underdeveloped regions are expected to become the most common growth interest globally in the coming years. Rising growth in health awareness, growing interest in extending the life expectancy of the gummy vitamins and prenatal vitamin products used by pregnant women are also significant factors stimulating market demand.
North America accounts for the largest market for gummy vitamins with a share of 37.50 % in 2020, and is expected to reach USD 1.69 billion by 2030. Due to the increasing consumption and growing health concerns in this region will propel the demand for gummy vitamin materials the North America region.
Key participants include Bayer, Smarty Pants Vitamins, Ferrara Candy, Hero Nutritonals, Zanon Vitamec, Natures Way, Gimbals, Nature’s Bounty, Softigel, Pharmavite, Olly Nutrition, VITAFUSION, Life Science Nutritionals, Albanese, and Herbaland
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Further key findings from the report suggest
- The multivitamin product type will dominate gummy vitamin market with the highest CAGR of 4.8% during the forecast period due to its prevalence and development of new formulations in the shape and taste of vitamin gummies.
- The single vitamin segment will also experience high growth of 4.4 % during the forecast period due to the expanding demand for supplements like Vitamin D among all the age groups and the growing use of Omega 3DHA among pregnant women.
- The demand for the gummy vitamins for vitamin deficiency is anticipated to grow at a CAGR of 5.3% during the forecast period. Growing incidents of malnutrition and undernourished children in the underdeveloped regions will initiate the growth of the gummy supplements.
- The addition of innovative gummy vitamin products manufactured from the organic formulations by the present players will drive the demand for gummy vitamins worldwide
- The rise in the Pharmaceutical segment as personal care-specific gummy vitamins, especially among the female population is significant. The segment is expected for the highest CAGR of 5.2% during the forecast period.
- In an attempt to draw potential possibilities in this market, manufacturers are taking efforts in the development of gummy vitamins that include Vitamin A, C, and E – which are known to improve skin health along with hair growth.
- Gummy vitamins are potentially useful options for people who can’t swallow pills well. What makes these vitamins a slightly better choice is not for the reason that they are absorbed better. It is because they tend to contain more amount of nutrients and necessary amounts of nutrients.
- The use of gummy vitamins for adults and children is increasing rapidly in various regions. The popularity is gained more by the children type of consumers.
- Europe is considered to be the second largest market for the gummy vitamins with a share of 33.50% in 2020.
- Alongside rising demand for the product, shifts in the gummy vitamins formulations are also propelling the growth of the market in the region. One major factor for the increase in the demand is the strict regulations of gummy vitamins supplements in Europe.
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For the purpose of this report, Reports and Data have segmented global Gummy vitamins market on the basis of Product Type, Application, Industry, Consumer type and region:
Product Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- Single vitamin
Source Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- Vitamin Deficiency
- Food Supplement
- Weight Gain
- Immunity & Bone Strength
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- North America
- Latin America
- Middle East & Africa
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Key Advantages of Gummy Vitamins Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Gummy Vitamins industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Gummy Vitamins market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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