The ingredients of gummy vitamins are an important part of their design. They contain important vitamins, including A, B, C, D, and E. Other ingredients include zinc, calcium, and various other nutrients. Sugar and artificial sweeteners are often added to gummy vitamins. Other ingredients found in gummy vitamins include pectin, which comes from fruits.
Market Statistics:
The global gummy supplements market is estimated to account for US$ 3,721.78 Mn in terms of value by the end of 2021.
Global Gummy Supplements Market: Drivers
Increasing availability of supplements in different flavours, especially for kids is driving growth of the gummy supplements market growth. For instance, recently in 2021, Nature’s Truth has expanded its line of vitamin gummy with three products focused on children’s needs. The product range includes children’s multivitamin gummies, Vitamin C gummies, and elderberry gummies. The new gummies are vegetarian, non-GMO, and free of gluten, dairy, and artificial flavour. They sold in such natural flavours, such as berry burst and honey lemon.
Global Gummy Supplements Market: Opportunities
Expansion of dietary supplements industry across developed countries is projected to provide significant growth opportunities for the market player in the near future. According to the National Center for Health Statistics, from 2007–2008 through 2017–2018, the prevalence of dietary supplement use increased in all age groups among U.S. adults.
Global Gummy Supplements Market: Restraints
Easy availability of substitutes, such as lozenges, soft gels, tablets, and capsules is expected to hamper the growth of the market. Moreover, lower shelf-life of a gummies is another key factors expected to restrict the market growth over the forecast period.
Global Gummy Supplements Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 crisis has impacted the overall gummy supplements industry, as many stores were shut down or were reducing their business hours. For instance, Walmart announced that it would modify its store hours in response to the pandemic, while other retailers planned to temporarily close their stores. Many companies shortened their working hours to help employees restock shelves overnight and clean stores.
To know the latest trends and insights prevalent in the Global Gummy Supplements Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/gummy-supplements-market-5103
Key Takeaways:
The global gummy supplements market was valued at US$ 3,721.78 Mn in 2021 and is forecast to reach a value of US$ 56,712.00 Mn by 2030 at a CAGR of 4.88% between 2022 and 2030.
Adult end segment held dominant position in the global gummy supplements market in 2020, accounting for 67% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Gummy Supplements Market Trends:
Increasing working-class population and changing lifestyle have failed to keep up with the daily nutrition requirement via diet. This is creating demand for vitamin supplements among working-class population, thus augmenting market growth.
Growing aging population, increasing healthcare costs, and rising awareness regarding maintaining a healthy diets are other key factor propelling market growth.
Global Gummy Supplements Market: Competitive Landscape
GlaxoSmithKline (GSK), Bayer AG, Amway Corporation, Church & Dwight Co. Inc., Nestle SA, Hero Nutritionals® LLC., Aesthetic Nutrition Pvt. Ltd (Power Gummies), Unilever PLC, and Jagzee Enterprises (Nutrazee)
Global Gummy Supplements Market: Recent Developments
- In April 2021, Nestlé and KKR entered an agreement, in which Nestlé would acquire the core brands of The Bountiful Company for USD 5.75 billion. The transaction included the high-growth brands, Nature's Bounty®, Solgar®, Osteo Bi-Flex®, and Puritan’s Pride®, and the company's US private-label business. These brands were to be integrated into Nestlé Health Science, creating a global leader in vitamins, minerals, and nutritional supplements.
- In November 2020, Unilever announced that it signed an agreement to acquire SmartyPants Vitamins, a US-based vitamin, mineral, and supplement company.
- In April 2018, Nutrazee launched an India-made fully vegan gummy vitamin product for all age groups. The gummies are sourced in WHO- GMP certified facility with non-GMO ingredients that support to filling the nutritional gaps in both kids and adults.
