The global gummy supplements market revenue was valued at USD 9.30 billion in 2023 and is expected to expand from USD 10.50 billion in 2024 to USD 27.57 billion by 2032, with a compound annual growth rate (CAGR) of 12.89% during the forecast period.
Gummy supplements, known for their rich vitamin and mineral content, provide a flavorful and convenient way to meet daily nutritional needs. The increasing adoption of sports supplements highlights the preference of athletes for convenient, effective nutritional options to enhance performance, contributing to the market’s growth.
This information is sourced from Fortune Business Insights™ in their research report, titled “Gummy Supplements Market, 2024-2032.”
List of Key Players Mentioned in the Report:
- Church & Dwight (U.S.)
- Haleon Plc. (U.K.)
- Nordic Naturals (U.S.)
- Hero Nutritionals (U.S.)
- Nutri Bears (India)
- Jamieson Vitamins (Canada)
- The Clorox Company (U.S.)
- H&H Group (Hong Kong)
- Unilever Plc. (U.K.)
- Nestle Health Science (Switzerland)
Information Source: https://www.fortunebusinessinsights.com/gummy-supplements-market-109478
Segmentation:
Single Vitamin Segment Held the Largest Share Owing to Widespread Micronutrient Deficiencies
The market is segmented by type into multi-vitamins, minerals, probiotics, omega-3 fatty acids, collagen, single vitamins, and others. In 2023, the single vitamin segment held the largest market share. The widespread prevalence of deficiencies, particularly in vitamins C, D, and B among various age groups, is driving the demand for single vitamin supplements and fostering growth in this segment.
Adults Segment Secured the Highest Market Share owing to Convenience and Taste Appeal
The market is categorized by end-user into adults, children, and geriatric populations.
The adult segment accounted for the largest share of the gummy supplements market. The growing preference for gummy vitamins and minerals among adults can be attributed to their convenient format and pleasant taste, which effectively disguises the unpleasantness associated with pills or capsules. This appeal is especially pronounced among middle-aged individuals who often experience "pill fatigue."
Supermarkets/Hypermarkets Segment Holds the Apex Position due to Convenience and Accessibility
The gummy supplements market is segmented by distribution channel into supermarkets/hypermarkets, pharmacies/drug stores, specialty stores, online retail, and others. Supermarkets and hypermarkets lead the market due to their convenient shopping experiences, offering services such as home delivery and bulk purchasing options, which make it easy for consumers to access a diverse range of gummies and other products.
Regionally, the market is divided into Europe, North America, the Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report offers both quantitative and qualitative insights, including market sizing, growth rates across different segments, an analysis of the competitive landscape, regulatory considerations, and recent industry trends such as mergers and acquisitions.
Drivers and Restraints:
Strategic Product Promotion and Diverse Functional Offerings to promote Product Demand
Effective promotional campaigns, such as Swisse Wellness' "Function, Fun Gummies" and Power Gummies' "GummyUpShapeUpDressUp," play a crucial role in raising product awareness and attracting consumers, which in turn fuels market expansion. Additionally, the presence of brands like Swisse Wellness, offering gummies with various functional benefits, and Power Gummies, targeting health-conscious consumers, expands the range of available products. This diverse selection appeals to a broader audience, further driving market growth.
However, the high levels of sugar alcohols used to enhance flavor may pose health risks, which could discourage consumer uptake and hinder the growth of the gummy supplements market.
Regional Insights:
North AmericaDominate the Market Owing to Strong Presence of Manufacturers
North America is the leading region in the gummy supplements market, holding approximately 44.48% of the market share in 2023. This dominance is attributed to a strong presence of established manufacturers, increasing adoption of gummy products, and access to a wide variety of gummy supplements.
In the Asia Pacific region, the rising number of sports enthusiasts and growing awareness of health-conscious lifestyles, including veganism, are driving demand for convenient options like gummies.
Competitive Landscape:
Key Players are Focusing on Product Innovation to Meet Consumer Demand
Church & Dwight, Haleon Plc, The Clorox Company, and other key players are instrumental in the gummy supplements industry, driving market expansion through their diverse range of flavored nutritional products enriched with vitamins and minerals. Their effective sales strategies further enhance the market's growth, as these companies respond to consumer demand with innovative product offerings, contributing to the overall upward trajectory of the gummy supplements market.
Key Industry Development:
April 2023- Nutritional supplements leader TopGum announced the acquisition of PharmltBe, an R&D specialist, aiming to bolster gummy production with advanced techniques in the future.
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