Dublin, July 05, 2024 (GLOBE NEWSWIRE) -- The "India Gummies Market, By Region, Competition, Forecast and Opportunities, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.
India Gummies Market was valued at USD 321.54 Million in 2024 and is anticipated to project impressive growth in the forecast period with a CAGR of 7.08% through 2030
The India Gummies Market is experiencing robust growth driven by several key factors. Changing consumer preferences towards healthier and convenient snack options are fueling the demand for gummies as a tasty and portable alternative to traditional candies. Increasing health consciousness among consumers, particularly millennials and Gen Z, is prompting a shift towards functional gummies fortified with vitamins, minerals, and herbal extracts, offering added health benefits.
The expanding urban population, rising disposable incomes, and growing influence of Western dietary trends are contributing to the popularity of gummies as a guilt-free indulgence and on-the-go snack option. Aggressive marketing strategies, innovative product formulations, and expanding distribution channels are driving market penetration and consumer awareness, further stimulating market growth.
With increasing demand for healthier and indulgent snacks, the India Gummies Market is expected to continue its upward trajectory in the coming years, presenting significant opportunities for manufacturers and retailers in the food and beverage industry.
Key Market Trends
Expanding Urban Population
The rapid urbanization of India is another significant driver shaping the Gummies Market. As more people migrate to urban areas in search of better opportunities and lifestyles, there is a corresponding increase in demand for convenient and on-the-go snack options. Gummies, with their portability, long shelf life, and easy consumption, are well-suited to meet the needs of urban consumers who lead busy and fast-paced lives.
Urbanization brings about changes in dietary habits and preferences, with consumers increasingly gravitating towards Western-style snacks and indulgent treats. Gummies, with their appealing flavors, textures, and fun shapes, resonate with urban consumers seeking novel and enjoyable snacking experiences. Consequently, manufacturers are targeting urban markets with tailored marketing campaigns and product offerings to capitalize on this trend and expand their market share.
Innovation in Product Formulations
Innovation in product formulations is driving growth and differentiation in the India Gummies Market. Manufacturers are experimenting with a wide range of ingredients, flavors, and textures to create unique gummy formulations that cater to diverse consumer preferences. Beyond traditional fruit flavors, gummies now come in a variety of exotic and novel flavors such as mango, lychee, and passion fruit, appealing to adventurous palates. There is a growing demand for gummies made with natural ingredients, free from artificial colors, flavors, and preservatives, reflecting consumer preferences for clean label products.
Manufacturers are exploring functional ingredients such as collagen, probiotics, and adaptogens to add health benefits to gummies, tapping into the growing trend of functional snacking. This emphasis on innovation and product differentiation allows brands to stand out in a crowded market and capture the attention of discerning consumers.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $321.54 Million |
| Forecasted Market Value (USD) by 2030 | $482.61 Million |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | India |
Key Market Players
- Power Gummies (Aesthetic Nutrition Pvt Ltd)
- Hindustan Unilever Limited
- Azveston Healthcare Pvt. Ltd.
- Marico Ltd.
- Solistaa Pharmaceuticals Private Limited (Amway)
- I M Healthcare Pvt. Ltd.
- Abbott India Ltd.
- Mankind Pharma Ltd.
- Purna Gummies Pvt. Ltd.
- Nutricore Biosciences Pvt. Ltd.
Report Scope:
India Gummies Market, By Type:
- Nutricosmetics
- Nutraceuticals
India Gummies Market, By Source:
- Plant Based
- Animal Based
India Gummies Market, By Distribution Channel:
- Pharmacies and Drug Stores
- Online
- Supermarkets and Hypermarkets
- Others
India Gummies Market, By Packaging:
- Bottles & Jars
- Pouches
India Gummies Market, By End User:
- Kids
- Adults
India Gummies Market, By Region:
- North
- South
- West
- East
For more information about this report visit https://www.researchandmarkets.com/r/1yfun3
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