New York, United States , July 04, 2024 (GLOBE NEWSWIRE) -- The Global Gummy Supplements Market Size is to Grow from USD 9.13 Billion in 2023 to USD 18.23 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.16% during the projected period.
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Gummy supplements are dietary supplements that resemble gummy candy and are frequently made of vitamins. Both kids and adults might enjoy the chewable form of these gummy supplements, which include vital vitamins, minerals, probiotics, melatonin, and other herbal extracts. Due to the growing health consciousness and preference for chewable nutritional supplements over traditional pills, the gummy supplement industry has experienced tremendous expansion in recent years. A delightful and entertaining substitute for conventional supplement forms like tablets and capsules are gummies. Hence, parents are resorting to readily consumable nutraceuticals, such as gummy vitamins, which come in a variety of flavors, forms, and formats. Children's nutritional needs might be effectively and tastily met with nutraceutical items, which can be shaped like bears, fruits, flowers, and more and come in a variety of flavors. Due to children's attraction to flavors like chocolate and strawberry, there is a considerable market demand for this flavored gummy supplement. However, one of the primary issues of customers is price, as gummy supplements tend to cost more than regular pills and tablets because there are fewer raw materials available for vitamins that are derived organically.
Browse key industry insights spread across 217 pages with 110 Market data tables and figures & charts from the report on the "Global Gummy Supplements Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Single Vitamin, Multi-Vitamin, Probiotics), By End-User (Children, Adult), By Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Pharmacies and Drug Stores, Online Channel, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The multi-vitamin segment is anticipated to hold the greatest share of the global gummy supplements market during the projected timeframe.
Based on the product type, the global gummy supplements market is divided into single vitamin, multi-vitamin, and probiotics. Among these, the multi-vitamin segment is anticipated to hold the greatest share of the global gummy supplements market during the projected timeframe. Companies that offer gummy vitamins aim to attract customers that are receptive to trying new combinations or substitutes for medications such as pills, tablets, and capsules in order to fill up any nutritional gaps or deficiencies. There is a strong correlation between the desire for gummy vitamins and the immune system's demonstrated benefits from vitamin consumption, especially with regard to vitamin C and vitamin D. The majority of gummy vitamins available in the market consist of vitamins A, B, C, D, E, K, and other essential vitamins.
The adult segment is anticipated to hold the largest share of the global gummy supplements market during the projected timeframe.
Based on the end user, the global gummy supplements market is divided into children and adults. Among these, the adult segment is anticipated to hold the largest share of the global gummy supplements market during the projected timeframe. The market development of this business is being influenced by growing consumer demand for gummy vitamins because of their range of flavors and shapes, growing awareness campaigns for preventative care, and an increase in the number of undernourishment and malnutrition cases in developing countries. Gummy supplements' continuous ability to attract new customers to dietary supplements has resulted in the adult and elderly demographic being the new face of sales. More adult is expected to join in since gummies are classified as prescription drugs and adults are more likely to experience pill tiredness. Citing the market penetration of adult gummies, producers strive to create products that provide customers with a more fun method to get their vitamins and minerals while having less sugar, texture, and flavor.
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North America is expected to hold the largest share of the global gummy supplements market over the forecast period.
North America is expected to hold the largest share of the global gummy supplements market over the forecast period. The reasons for this include a well-established health and wellness sector, a rising desire for confectionary formats among health-conscious customers, particularly millennials, and a high level of consumer knowledge about nutritional items. The expansion of the regional market has been aided by the presence of significant players and the simple accessibility of a broad variety of gummy supplements through various retail channels. When it comes to exports, North America is the world's biggest supplier of gummy vitamins. The robust branding and marketing strategies utilized by North American corporations to position gummy supplements as an enjoyable and delectable means of meeting daily vitamin and mineral needs have contributed to their widespread worldwide appeal. Nonetheless, costs in the North American market are often more expensive.
Asia Pacific is predicted to grow at the fastest pace in the global gummy supplements market during the projected timeframe. Future growth in the gummy supplement market in China is anticipated to be greatly aided by rising healthcare spending and urban residents' increasing awareness of their health, particularly the young of the nation. Numerous studies demonstrating advantages for immunity, cognitive function, and skincare, together with a growing awareness of the need of preventative healthcare, are driving the gummy supplement industry in China. Due to dropping birth rates and an aging population, Japan has seen a significant demographic and cultural shift.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global gummy supplements market include Boscogen, Inc., Bettera Brands, LLC, NutraStar Manufacturing Ltd., Better Nutritionals, Prime Health Ltd., AJES Pharmaceuticals LLC, Lactonova, SMPNutra.com, Lexicare Pharma Pvt. Ltd., Amapharm, Procaps Group, Vitakem Nutraceutical, Inc., Santa Cruz Nutritionals, Herbaland Canada, Allseps Pty. Ltd., Vitux AS, Others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global gummy supplements market based on the below-mentioned segments:
Global Gummy Supplements Market, By Product Type
- Single Vitamin
- Multi-Vitamin
- Probiotics
Global Gummy Supplements Market, By End User
- Children
- Adult
Global Gummy Supplements Market, By Distribution Channel
- Hypermarket/Supermarket
- Convenience Stores
- Pharmacies and Drug Stores
- Online Channel
- Other
Global Gummy Supplements Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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