Dublin, May 18, 2023 (GLOBE NEWSWIRE) -- The "Gummy Supplements Market by Type (Vitamin Gummies, Omega Fatty Acid Gummies, Collagen Gummies, CBD Gummies), Starch Ingredient (Supplements With Starch, Starchless Systems), Distribution Channel, End User, Functionality & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global gummy supplements market is projected to reach USD 48.5 Billion by 2028 from USD 24.6 Billion by 2023, at a CAGR of 14.5% during the forecast period in terms of value.
Gummy supplements are marketed as providing specific health benefits, such as boosting immune function or promoting healthy hair and skin. Gummy supplements are now widely available at drugstores, supermarkets, and online retailers, making them more accessible to consumers.
Gummy supplements are a convenient way to consume vitamins and minerals, especially for people who have difficulty swallowing pills. Gummy supplements come in various flavors, making them more appealing to people who don't like the taste of traditional supplements. Companies have been heavily marketing gummy supplements as an easy way to get essential nutrients.
By type, Vitamin Gummies are projected in high demand during the forecast period
Vitamin gummies are often more palatable than traditional vitamin supplements, which can have a bitter or unpleasant taste. The sweet and fruity flavor of gummies makes them more appealing to children and adults. Vitamin gummies are easy to take and can be consumed on the go without water or food.
This convenience makes them a popular choice for busy people who want to ensure they get their daily dose of vitamins. Vitamin gummies have been heavily marketed as a tasty way to supplement in diet with essential vitamins. The colorful packaging and advertising campaigns have contributed to the popularity of gummies as a supplement.
Some people believe that gummies are more effective than traditional supplements because they taste good and are easier to take. Moreover, the gummy vitamin market is expanding rapidly as a result of the rising number of undernourished people. According to FAO, the number of undernourished people rose to 828 million in 2021.
The population that is undernourished does not get the essential nutrients and food needed for growth. The gummy vitamins can be utilized as a nutritional source to meet the demand for nourishment and provide the undernourished population with health advantages. Thus, the rise in number of undernourished people is likely to drive the market for gummy vitamins.
Overall, the combination of taste, convenience, marketing, rise in a number of undernourished people, and perception of effectiveness has made vitamin gummies a highly demanding supplement.
By Distribution Channel, Online Retail Stores are widely used due to convenience and competitive pricing
Online retail stores provide a convenient way for consumers to purchase gummy supplements from the comfort of their homes. Consumers are able to easily browse through a wide range of products, compare prices, and read reviews without having to physically visit a store. Online retail stores often offer a greater variety of gummy supplements compared to general stores.
This is because online retailers source products from multiple suppliers and manufacturers, providing consumers with a wider selection to choose from. Many online retailers offer customization options for gummy supplements, such as personalized vitamin packs or subscription services.
This allows consumers to tailor their supplement intake to their specific needs and preferences. Online retailers are often able to offer competitive pricing due to lower overhead costs than general stores. This makes gummy supplements more affordable for consumers.
By Region, US is driving the market in North America in gummy supplements due to increasing demand for vitamins and supplements
The gummy supplement market in the US is driven by increasing consumer demand for more convenient ways to take vitamins and supplements as more consumers are looking for ways to support their overall health and well-being.
Some of the key factors driving the growth of the gummy supplement market in the US include the increasing popularity of gummy supplements among children and young adults, the rising awareness about the health benefits of dietary supplements, and the availability of a wide range of gummy supplement products across various distribution channels such as online stores, supermarkets, and health food stores.
The growing awareness among consumers about the importance of maintaining a healthy lifestyle, the aging of the US population, and the increasing prevalence of chronic diseases are driving the gummy supplements market in the US. In addition, consumers are becoming more proactive in managing their health, and are looking for natural and holistic ways to support their overall wellness.
Competitive landscape
Key players holding a large share in the gummy supplements market include GSK (UK), Church & Dwight (US), H&H (Hong Kong), Procaps (Luxembourg), Bayer AG (Germany), The Clorox Company (US), Nestle (Switzerland), Unilever (UK), Otsuka Holdings Co., Ltd (Japan), and Catalent (US).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 320 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $24.6 Billion |
| Forecasted Market Value (USD) by 2028 | $48.5 Billion |
| Compound Annual Growth Rate | 14.5% |
| Regions Covered | Global |
Premium Insights
- Growing Preference for Natural and Organic Ingredients to Drive Market
- Adults Accounted for Largest Share in 2022
- US Held Largest Share in Gummy Supplements Market, 2022
- North America to Dominate Gummy Supplements Market Across All Types, 2023 Vs. 2028
- Hypermarkets & Supermarkets to Dominate Gummy Supplements Market Across All Distribution Channels, 2023 Vs. 2028
- Adults Segment to Account for Largest Share by 2028
Market Dynamics
Drivers
- Rising Rate of Vitamin-Deficiency Diseases and Undernutrition
- Soaring Burden of Metabolic Diseases
- Increasing Rates of Infertility
- Growing Consumer Interest in Beauty and Wellness
- Increase in Product Innovations
Restraints
- High Cost of Gummy Supplements
- High Sugar Content in Gummy Supplements
Opportunities
- Rising Health Awareness Among Consumers and Demand for Plant-Based Products
- Increase in Aging Population
Challenges
- Risks Associated with Overconsumption of Gummy Supplements
- Formulation Challenges of Gummy Supplements
Value Chain Analysis
- Research & Product Development
- Raw Material Sourcing
- Production and Processing
- Quality and Safety Controllers
- Marketing & Distribution
- End-Users
Company Profiles
Key Players
- Gsk plc
- Church & Dwight Co. Inc.
- H&H Group
- Amway
- Procaps Group
- The Clorox Company
- Bayer Ag
- Haleon Group of Companies
- Catalent, Inc.
- Nestle
- Unilever
- Otsuka Holdings Co. Ltd.
- Pharmacare Laboratories Australia
- Swanson
- Global Widget, LLC
- Im Healthcare
- Smp Nutra
- Nature's Truth
- Herbaland Naturals Inc.
Other Players
- Zanonvitamec.Com
- Hero Nutritionals
- Nutra Solutions USA
- Vitakem Nutraceutical Inc.
- Boscogen, Inc.
- Makers Nutrition, LLC
- Ernest Jackson
- Scn Bestco
- Nature's Way Brands
- The Hut.Com Ltd
For more information about this report visit https://www.researchandmarkets.com/r/iaci
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