Pune, India, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The global gummy vitamins market size is growing extremely well due to the growing awareness among individuals regarding preventive healthcare measures and maintaining better health. Another reason that boosts the gummy product demand is the trend for immune boosters across developing and developed countries.
Fortune Business Insights™ has examined these responses in a research report titled, “Gummy Vitamins Market Size, Share & Industry Analysis, and Regional Forecast 2023-2030”
Gummy vitamins are a type of dietary supplement that comes in a chewy, gummy form, typically shaped like fruit or animals. They are often marketed toward children or adults who have difficulty swallowing pills or who prefer a more enjoyable way to take their vitamins.
Like other types of vitamins, gummy vitamins contain various vitamins and minerals that are important for the body's overall health and well-being. The specific vitamins and minerals included in gummy vitamins can vary depending on the brand and product, but some common ones include vitamins C, D, and E, as well as calcium and iron. While gummy vitamins can be a convenient and tasty way to get the nutrients you need, it's important to remember that they are still a type of supplement and should not be used as a replacement for a healthy diet.
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List of Companies Covered in the Gummy Vitamins Market Report:
- Church & Dwight CO. Inc., (U.S.)
- OLLY Public Benefit Corporation(U.S.)
- Vitakem Nutraceutical Inc., (U.S.)
- Life Science Nutritionals (Canada)
- Herbaland Naturals Inc., (Canada)
Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2022 |
| Historical Year | 2019 – 2021 |
| Forecast Year | 2023 – 2030 |
| Segments Covered | By Type, By Distribution, By End- User, By Geography |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Segments-
With regards to type, the market is divided into multivitamin and single vitamin. Based on distribution, the industry is divided into online retail, pharmacy stores, convenience stores, supermarkets/hypermarkets and others. On the basis of the end-users, the market is classified into adults and children. In terms of region, the market is categorized into the Middle East & Africa, Europe, South America, North America, and the Asia Pacific.
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Market Segmentation:
By Type
- Single Vitamin
- Multivitamin
By Distribution
- Supermarkets/Hypermarkets
- Convenience Stores
- Pharmacy Stores
- Online Retail
- Others
By End-User
- Children
- Adults
By Geography
Report Coverage-
Secondary and primary sources are used to get a detailed overview of the study in a prominent way. The qualitative and quantitative approach is also considered in the context of the report to achieve the detailed analysis. Meetings with the upper management, such as the board of directors and employees, have contributed to thoroughly recognizing the industry in the best possible way. For secondary resources, various press releases and journals are used to fetch the details of the industry. The report also includes COVID-19 analysis to boost the market coverage.
Drivers and Restraints:
Healthy Diet Prompted Investment in Market
As the world’s population grows and becomes more conscious of the importance of nutrition, the demand for items such as dietary supplements will rise. Increased demand for such products has led several manufacturers to launch different supplements. The fact that producers have begun to produce goods suitable for vegans, adults and children could contribute significantly to the gummy vitamins market growth. Meanwhile, the overconsumption of gummy vitamins can lead to health effects such as kidney stones in children, hampering industry growth.
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Regional Insights
Growing Awareness in Consumption of Supplements Nurture Growth in Asia Pacific Market
The Asia Pacific is expected to experience a considerable increase in the gummy vitamins market share, partially due to the expansion of supermarket and pharmacy stores. Besides, rising investment in a multivitamin in developed and developing regions is likely to generate new growth prospects. Moreover, growing awareness of chronic disease risk and malnutrition has empowered digital trade in the marketplace.
Due to a sizeable health-conscious customer base, the growth dynamics of North America are witnessing increased investmentsin the market. Furthermore, the market is projected to hold a prominent share due to the increasing preferences to maintain their daily requirement of vitamins across the region.
Competitive Landscape-
Stakeholders Focus on Procedural Improvements to Boost Portfolios
Leading companies, such as Church & Dwight CO. Inc., introduced innovative products to gain a competitive edge. Major industry players are expected to invest in product launches, partnerships and mergers & acquisitions to get an additional lead.
Developments in the business include:
- March 2020: The Vitafusion by Church & Dwight CO. Inc., introduced six innovative products such as triple immune power, organic prenatal multi, teen essential multi, kids essential multi, apple cider vinegar and irresistible skin to address the unmet nutritional needs.
- March 2020: OLLY, a San Francisco-based brand, launched a gummy vitamin supplement in Singapore to boost its customer base and profitability.
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