The global Gummy Supplements Market is estimated to be valued at US$ 4093.89 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
They are easy to consume, come in different flavors, and are a fun and enjoyable way for people of all ages to meet their daily nutritional needs.
Market key trends:
One of the key trends in the Gummy Supplements Market Size is the introduction of CBD-infused gummy supplements. CBD edibles are gaining popularity due to the various therapeutic benefits of CBD such as pain relief, anxiety relief, and improved sleep. Manufacturers are launching innovative CBD gummy products in attractive packages and multiple flavors to cater to increasing consumer demand. Additionally, consumers' preference for more convenient and enjoyable ways of consuming daily supplements is fueling demand for gummy supplements.
Segment Analysis
The global gummy supplements market is segmented into vitamin, dietary supplements, and others. The vitamin gummy supplements segment holds the largest share in the market and is expected to be the fastest growing segment, owing to the increasing cognizance about the health benefits associated with vitamin supplementation in the form of chewable gummies. Vitamin gummy supplements are available in variants like multivitamin, vitamin C, calcium, and omega-3 fatty acids. The dietary supplements segment also holds a prominent share and includes supplements like probiotics, melatonin, and collagen peptides.
Key Takeaways
Market size
The global gummy supplements market is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing health awareness among consumers and growing preference for chewable supplements.
Regional analysis
North America dominates the global gummy supplements market and is expected to continue its dominance over the forecast period. This is attributed to the rising health consciousness and increasing adoption of dietary and nutritional supplements in chewable forms. Asia Pacific exhibits the fastest growth owing to increasing spending on healthcare and wellness products in major countries like India and China.
Key players
Key players operating in the gummy supplements market are 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). GlaxoSmithKline dominates the gummy supplements market owing to its diverse product portfolio and global brand recognition.
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