“MarketsandMarkets™” The global gummy vitamins market size is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 10.6 billion by 2025, recording a CAGR of 12.5%
The report “Gummy Vitamins Market by Product Type (Multivitamins, Single Vitamins), Source (Animal, Plant), Packaging Type (Bottles & Jars, Pouches), Distribution Channel (Store-Based, Online), End User (Adult, Children), and Region – Global Forecast to 2025″ , According to MarketsandMarkets, the global gummy vitamins market size is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 10.6 billion by 2025, recording a CAGR of 12.5% in terms of value. The increasing prevalence of vitamin deficiencies and undernourishment along with growing demand and awareness for on-the-go supplements, supporting better health among consumers, is driving the majority growth of the global gummy vitamins market. Apart from that, the hike in the need for immunity boosting or supporting products, as a preventive healthcare measure, is further rocketing the growth of the market.
Drivers: High demand for on-the-go dietary supplement products
In recent years, health-conscious consumers are looking for nutritional foods and food products with essential health ingredients to prevent possible diseases and improve physical and mental well-being. The increase in the aging population and rise in consumer awareness in developing and developed countries are the key factors that have led to the rise in consumer preference for products with healthy ingredients, such as vitamins, required for the prevention or treatment of specific existing conditions. The increase in demands for such products has led several manufacturers to launch various products infused with vitamins in the dietary supplements market.
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However, the millennials across regions and countries are witnessing busier work schedules and the increase in the geriatric population that are experiencing problems with pill-consumption. Due to these factors, consumers in the market are witnessing high demand for convenient vitamin-based products that can be consumed on-the-go and are easy to consume, such as easy to chew instead of swallowing. Gummy vitamins help address these problems and provide consumers with on-the-go consumption characteristics, along with ease in consumption, as they are chewable candies. Apart from this, the pleasant sugar-based flavor coating on gummy vitamins also appeal to a larger consumer base in terms of taste preferences. The geriatric population and children avoid the consumption of dietary supplements due to their harsh, unappealing, and unpleasant strong tastes, due to which gummy vitamin manufacturers witness high growth potential to commercialize a line of their products. In addition, key factors such as the increased quantity of multi-vitamins in gummy vitamins encourage consumers to adopt these products rather than opt for other singular vitamin tablets or capsules, which, in turn, provides them convenience in consumption. Hence, the increase in demand for convenient and on-the-go supplements is further encouraging the demand for gummy vitamins.
By packaging type, the bottles and jars segment is projected to account for the largest share in the gummy vitamins market during the forecast period
The bottles & jars segment dominated the global market, on the basis of packaging type, in 2019. This is due to the air-tight characteristics offered by the lid of these bottles & jars, which helps protect the composition of gummies inside and prevent contamination or damages from the external environment. Bottles & jars available in plastic and glass forms are also easy to carry or transport.
By end-user, the adults segment is projected to account for the largest share in the gummy vitamins market by end-user during the forecast period
The adult segment accounted for a major share in the global market, in 2019, in terms of value. This is attributed to the increase in the geriatric population, which is more prone to the risks of vitamin deficiencies. In addition, with the increase in age, consumers witness difficulties in swallowing capsules, tablets, and other forms of pharmaceutical products that help in increasing vitamin intake in the body. Hence, gummy vitamins are majorly preferred among the adult population in the world, as they are chewable and offer enhanced taste apart from delivering health benefits.
The North America region dominated the gummy vitamin market with the largest share in 2019, whereas the Asia Pacific is expected to witness the highest growth rate.
The North American market accounted for the largest share in 2019. The market in this region is majorly driven by the US, which is the largest producer, exporter, and consumer of gummy vitamins. Further, the rise in income, increase in purchasing power, and significant consumer demand for nutritional & healthy products are the key factors that are projected to encourage the consumption of gummy vitamins in the region.
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The Asia Pacific region is projected to record a higher growth rate during the forecast period. This is attributed to the untapped potential, the increase in awareness among the population, the rise in investments from the global key players, and economic developments. In addition, due to the densely populated countries in the region with higher risks of chronic diseases and vitamin deficiencies, the market is projected to witness a high demand for gummy vitamins.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Church & Dwight Co. Inc. (US), Life Science Nutritionals (Canada), Bettera Brands LLC (US), Softigel (US), Nature's Way Products, LLC (US), Zanon Vitamec Inc. (US), Olly Public Benefit Corporation (US), Herbaland Naturals Inc. (Canada), Hero Nutritionals, LLC (US), SmartyPants Inc. (US), The Nature's Bounty Co. (US), IM Healthcare (India), Nutra Solutions (US), Makers Nutrition, LLC (US), Vitakem Nutraceutical Inc. (US), Bayer Group (Germany), The Clorox Company (US), Ernest Jackson (UK), Boscogen, Inc (US), and Santa Cruz Nutritionals Inc. (US).
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