NEW YORK, United States, July 04, 2024 (GLOBE NEWSWIRE) — The global gummy supplements market size is expected to expand from USD 9.13 billion in 2023 to USD 18.23 billion by 2033, at a compound annual growth rate (CAGR) of 7.16% during the forecast period.
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Gummy supplements are dietary supplements that resemble gummy candy and are often made from vitamins. Children and adults alike will enjoy the chewable form of these gummy supplements. Gummy supplements contain important vitamins, minerals, probiotics, melatonin, and other herbal extracts. Due to the growing health consciousness and the preference for chewable dietary supplements over traditional tablets, the gummy supplement industry has seen tremendous growth in recent years. Gummies are a fun and enjoyable alternative to traditional supplements such as tablets and capsules. Therefore, parents are turning to ready-to-take dietary supplements such as gummy vitamins in various flavors, shapes, and formats. With different flavors of dietary supplements in the form of bears, fruits, flowers, and more, these flavored gummy supplements can effectively and deliciously meet the nutritional needs of children. As children are attracted to flavors such as chocolate and strawberry, there is a considerable market demand for these flavored gummy supplements. However, one of the main issues customers have is the price. Due to fewer raw materials available for organically grown vitamins, gummy supplements tend to be more expensive than regular pills and tablets.
Browse 217 pages of key industry insights and access 110 market data tables, charts & graphs from the report. “Global Gummy Supplements Market Size, share, COVID-19 impact analysis, By Product Type (Single Vitamins, Multi Vitamins, Probiotics), By End User (Children, Adults), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Pharmacies & Drug Stores, Online Channels, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Analysis and forecast for 2023-2033.
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The multivitamin segment is expected to account for the largest share of the global gummy supplements market during the forecast period.
Based on product type, the global gummy supplements market is bifurcated into single vitamins, multivitamins, and probiotics. Of these, the multivitamin segment is expected to account for the largest share of the global gummy supplements market during the forecast period. Companies offering gummy vitamins aim to attract customers who are willing to try new combinations and alternatives to pills, tablets, capsules, and other medications to supplement nutritional gaps and deficiencies. There is a strong correlation between the desire for gummy vitamins and the proven benefits of vitamin intake for the immune system, especially with regard to vitamin C and vitamin D. The majority of gummy vitamins available in the market consist of vitamins A, B, C, D, E, K, and other essential vitamins.
The adult segment is expected to account for the largest share of the global gummy supplements market during the forecast period.
Based on end user, the global gummy supplements market is bifurcated into children and adults. Of these, the adult segment is expected to account for the largest share of the global gummy supplements market during the forecast period. The market development of this business is influenced by the growing consumer demand for gummy vitamins in various flavors and shapes, growing awareness campaigns for preventive care, and the increasing number of cases of nutritional deficiencies and malnutrition in developing countries. With its continued ability to attract new customers to dietary supplements, adult and geriatric demographics are the new face of sales for gummy supplements. Gummies are classified as prescription medicines, and more adults are expected to participate as they are more likely to experience tablet fatigue. Due to the market penetration of gummies for adults, producers are striving to develop products that offer customers a more enjoyable way to consume vitamins and minerals while reducing sugar, texture, and flavor.
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North America is expected to account for the largest share of the global gummy supplements market during the forecast period.
North America is expected to hold the largest share of the global gummy supplements market during the forecast period. Reasons include the well-established health and wellness sector, growing appetite for confectionery formats among health-conscious customers, especially millennials, and high level of consumer knowledge about nutritional products. The market expansion in this region is supported by the presence of leading companies and easy availability of a wide range of gummy supplements through various retail channels. In terms of exports, North America is the world’s largest supplier of gummy vitamins. The strong branding and marketing strategies adopted by North American companies to position gummy supplements as a fun and tasty means of meeting daily vitamin and mineral needs have contributed to their widespread acceptance across the globe. That said, costs in the North American market are often expensive.
Asia Pacific is projected to grow at the fastest pace in the global gummy supplements market during the forecast period. Future growth of China’s gummy supplements market is expected to be driven largely by rising healthcare spending and growing health awareness among urban residents, especially the youth. Numerous studies showing benefits on immunity, cognitive function, and skin care, along with growing awareness of the need for preventive healthcare, are driving the gummy supplements industry in China. Japan is witnessing significant demographic and cultural changes due to a declining birth rate and an aging population.
Competitive Analysis:
The report provides a proper analysis of the key organizations/companies involved in the global market and a comparative assessment based mainly on product offerings, business overview, geographical presence, corporate strategies, segment market share, and SWOT analysis. The report also provides a detailed analysis focusing on the current news and developments of the companies, including product developments, innovations, joint ventures, partnerships, mergers & acquisitions, and strategic alliances, which allows to evaluate the overall competition within the market. Key vendors in the global Gummy Supplements market include Boscogen, Inc., Bettera Brands, LLC, NutraStar Manufacturing Ltd., Better Nutritionals, Prime Health Ltd., AJES Pharmaceuticals LLC, Lactonova, SMPNutra.com, Lexicare Pharma Pvt. Ltd., Amapharm, Procaps Group, Vitakem Nutraceutical, Inc., Santa Cruz Nutritionals, Herbaland Canada, Allseps Pty. Ltd., Vitux AS, and others.
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Market Segments
The study forecasts revenue at global, regional and country levels from 2020 to 2033. Spherical Insights segments the global gummy supplements market based on the following segments:
Global Gummy Supplements Market, by Product Type
- Single Vitamin
- multivitamin
- Probiotics
Global Gummy Supplements Market by End User
Global Gummy Supplements Market by Distribution Channel
- Hypermarket/Supermarket
- convenience store
- Pharmacies and drug stores
- Online Channels
- other
Global Gummy Supplements Market, Regional Analysis
- North America
- Europe
- Germany
- England
- France
- Italy
- Spain
- Russia
- Other Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- south america
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- Qatar
- South Africa
- Other Middle East and Africa
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