The latest report by IMARC Group, titled “Gummy Vitamins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global gummy vitamins market size reached US$ 6.7 Billion in 2022. Gummy vitamins are chewable vitamins with a texture similar to gummy candies. They are manufactured with corn starch, gelatin, sugar, water, and added colorings and are available in different shapes, colors, and flavors.These vitamins are consumed to increase the intake of specific nutrients, such as iron, calcium, magnesium and vitamins A, B, C, D, and E. Gummy vitamins are gaining popularity among individuals as they are convenient to store, easy to swallow, digest and absorb in the body.
Global Gummy Vitamins Market Trends:
Significant growth in the nutraceutical industry is one of the key factors driving the market growth. In addition, the risingconsciousness among the masses regarding the benefits of regular consumption of dietary supplements represents another major growth-inducing factor. Moreover, due to the growing prevalence of nutritional deficiencies among children and adults, there has been a significant growth in the consumption of gummy vitamins to prevent chronic diseases and maintain physical and mental wellbeing. Besides this, the market is further propelled by the widespread adoption of Vitamin C supplements to boost immunity against coronavirus disease (COVID-19). Along with this, key manufacturers are introducing innovative product variants using natural and organic ingredients, including gummy vitamins in novel flavors, such as apple, pineapple, orange, strawberry, lime, cola, and cherry. They are also launchingproductswith customized nutrient compositions for each consumer. Furthermore, the rising disposable incomes of customers, the increasing research and development (R&D) activities, and theeasyproduct availability on e-commerce platforms are some of the other factors anticipated to propel the market growth. Looking forward, IMARC Group expects the market value to reach US$ 9.1 Billion by 2028, exhibiting a CAGR of 5.25% during the forecast period (2023-2028).
- On the basis of the type, the market has been segmented into single vitamin, multivitamin, and prebiotics and probiotics.
- Based on the demographics, the market has been bifurcated into children and adults.
- On the basis of the sales channel, the market has been classified into supermarkets and hypermarkets, specialty stores, retail pharmacies, and online stores.
- On the geographical front, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Bayer AG, Bettera Wellness LLC, Church & Dwight Co. Inc., Hero Nutritionals, Ion Labs Inc. (DCC plc), Nature’s Way Products LLC. (Dr Willmar Schwabe GmbH & Co. KG), Pfizer Inc., Pharmavite (Otsuka Pharmaceutical Co. Ltd), Santa Cruz Nutritionals, SmartyPants Vitamins (Unilever plc), The Honest Company Inc. and Vitakem Nutraceutical Inc.
|Base Year of the Analysis
||Type, Demographics, Sales Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Bayer AG, Bettera Wellness LLC, Church & Dwight Co. Inc., Hero Nutritionals, Ion Labs Inc. (DCC plc), Nature's Way Products LLC. (Dr. Willmar Schwabe GmbH & Co. KG), Pfizer Inc., Pharmavite (Otsuka Pharmaceutical Co. Ltd), Santa Cruz Nutritionals, SmartyPants Vitamins (Unilever plc), The Honest Company Inc. and Vitakem Nutraceutical Inc.
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