(MENAFN- GlobeNewsWire - Nasdaq) The Global Gummy market Size was Valued at USD 22.78 Billion in 2023 and the Worldwide Gummy Market Size is expected to reach USD 66.56 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies Covered: Bettera Brands, LLC, NutraStar manufacturing Ltd., Procaps Group, Santa Cruz Nutritionals, Amapharm, Herbaland Canada, Allseps Pty. Ltd., Vitux AS, Boscogen, Inc, Better Nutritionals, Prime health Ltd., AJES Pharmaceuticals LLC, Lactonova, SMPNutra, Lexicare Pharma Pvt. Ltd., Superior Supplement Manufacturing, Well Aliments, Supplement Factory Ltd., Vitakem Nutraceutical, Inc., and Other Key Vendors.
New York, United States, March 28, 2024 (GLOBE NEWSWIRE) -- The Global Gummy Market Size is expected to Grow from USD 22.78 Billion in 2023 to USD 66.56 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.32% during the forecast period.
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The gummy is a chewable substance with a texture similar to candies and came in a variety of flavors, shapes, and colors. Gummies are an excellent nutrient delivery format because they are convenient to consume and can be made with a wide range of active ingredients. Certain gummies contain omega-3 fatty acids, which are essential for heart health, or vitamins and minerals that boost the immune system. For instance, in December 2023, OGeez launched two new products: The Naturals, a vegan gummy with rosin, and The Big OGeez. Gummy manufacturers are now providing gummies with multiple benefits in a single product. Key players provide gummy products that boost immunity, aid digestion, promote sleep, increase strength, and benefit the heart, bones, eyes, hair, and skin. These elements create a favorable environment for the rise in demand for vitamin-enhanced products, which will drive the overall gummy market. However, Gummies can be marketed as a healthier option, but they may still contain high amounts of sugar, artificial additives, and preservatives. The gummy industry's expansion may be hampered by concerns about excessive sugar consumption and additives, particularly among parents and health-conscious customers.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the " Global Gummy Market Size, Share, and COVID-19 Impact Analysis , By Product (Vitamins, Minerals, Dietary Fibers), By Ingredients (Fruit-Based Gummies, Gelatin-Free Gummies, CBD/THC Gummies, Probiotic Gummies, Vitamin/Supplement, Collagen Gummies), By End User (Children, Adults, Seniors), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The vitamins segment dominates the market with the largest revenue share over the anticipation timeframe.
On the basis of product, the global gummy market is segmented into vitamins, minerals, and dietary fibres. Among these, the vitamins segment is dominating the market with the largest revenue share over the anticipation timeframe. Gummies containing vitamins are an effortless means to obtain these nutrients. Furthermore, because they promote metabolic health and balance the body's folic acid and glycemic index, vitamin gummies are becoming increasingly popular among working professionals. Vitamin gummies' popularity has also grown as a result of successful marketing campaigns that have featured social media influencers and medical professionals endorsing the product.
The fruit-based gummies segment is witnessing significant CAGR growth over the anticipation timeframe.
On the basis of the ingredients, the global gummy market is segmented into fruit-based gummies, gelatin-free gummies, CBD/THC gummies, probiotic gummies, vitamin/supplement, and collagen gummies. Among these, the fruit-based gummies segment is witnessing significant growth over the anticipation timeframe. Fruit candies are also benefiting from flavor and form innovation. Their appeal is enhanced by the manufacturers' constant introduction of novel and exotic fruit flavours, as well as visually appealing and entertaining shapes, particularly among younger consumers.
The adults dominate the market with the largest revenue share over the anticipation timeframe.
Based on the end user, the global gummy market is segmented into children, adults, and seniors. Among these, the adult's segment is dominating the market with the largest revenue share over the anticipation timeframe. The growing population of adults, who are more susceptible to deficiency of vitamins and bone diseases. In addition, since they are chewable and have a better flavour in addition to their health benefits, gummy vitamins are popular among adults all over the world.
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North America dominates the market with the largest market share over the anticipation timeframe.
North America is dominating the market with the largest market share over the anticipation timeframe. The need for customized supplement solutions, rising demand for vitamin C and D supplements, and an increase in the number of cases of vitamin deficiencies have all contributed to gummy's recent popularity. Gummy supplements can be used to supplement vitamin deficiencies and support wellness goals. They are tasty and convenient.
Asia Pacific is expected to grow the fastest during the anticipation timeframe. Countries such as China, India, and Japan. Furthermore, in response to consumer demand, regional gummy manufacturers are introducing fusion gummies and a variety of flavors that appeal to younger consumers, including children. This is expected to boost demand and aid the growth of the local gummy market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major market key players in the global gummy market Bettera Brands, LLC, NutraStar Manufacturing Ltd., Procaps Group, Santa Cruz Nutritionals, Amapharm, Herbaland Canada, Allseps Pty. Ltd., Vitux AS, Boscogen, Inc, Better Nutritionals, Prime Health Ltd., AJES Pharmaceuticals LLC, Lactonova, SMPNutra, Lexicare Pharma Pvt. Ltd., Superior Supplement Manufacturing, Well Aliments, Supplement Factory Ltd., Vitakem Nutraceutical, Inc., and Others.
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Key Market Developments
On February 2024, Anti-alcohol gummy comes in a colorful standup pouch. Ando, an anti-Alcohol Flush gummy, was created to treat the symptoms of Alcohol Flush, which affects over 15 million Americans and causes redness, itching, nausea, and dizziness. It was recently released in a stand-up pouch with a matte finish and a resealable zipper down the tearline.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Gummy Market based on the below-mentioned segments:
Gummy Market, Product Analysis
Vitamins Minerals Dietary Fibers
Gummy Market, Ingredients Analysis
Fruit-Based Gummies Gelatin-Free Gummies CBD/THC Gummies Probiotic Gummies Vitamin/Supplement Collagen Gummies
Gummy Market, End User Analysis
Gummy Market, Regional Analysis
North America Europe Germany Uk France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of Middle East & Africa
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Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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