New York, May 20, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Gummy Supplements Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Digestive Health, Heart Health, Immune Health, Stress Management, Brain Health, Skin Health, Healthy Ageing, Sports Nutrition, Weight Loss, Multivitamins, Single Vitamins, Probiotics, Men's Health, Women's Health, and Others), End-User (Adults and Kids), and Geography.
Dietary supplements are available in numerous forms, including tablets, soft gels, capsules, powders, liquids, and gummies. As per consumer data published by Glanbia plc, the "preferred format" is one of the most influential factors in decision making after highest quality ingredients" and the "most affordable option" for consumers when making a purchase decision for supplements. The right format is more important to consumers than its taste, label claims, and brand.
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| Report Coverage | Details |
| Market Size Value in | US$ 9,467.04 million in 2021 |
| Market Size Value by | US$ 16,510.39 million by 2028 |
| Growth rate | CAGR of 8.3% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 198 |
| No. Tables | 86 |
| No. of Charts & Figures | 80 |
| Historical data available | Yes |
| Segments covered | Type and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Gummy Supplements Market: Competitive Landscape and Key Developments
Bayer AG; Church & Dwight, Inc.; Pharmavite LLC; Herbaland Naturals Inc.; Jarrow Formulas, Inc.; Life Science Nutritionals; Nature's Bounty; Nature's Way Products LLC; The Clorox Company; and Zanon Vitamec are the prominent players operating in the global gummy supplements market.
The gummy format is most popular among 18 to 34-year-old adults. Vitafusion, one of the brands in the gummy supplements market, reported around 67% of US consumers aged between 18 to 34 prefer the gummy format.
Gummy supplements consist of nutrients, such as vitamins, minerals, proteins, amino acids, probiotics, and others. These supplements help in fulfilling the specific nutritional requirement of an individual. The rising concerns related to health and fitness amongst the people, especially the young population group, is one of the key factors driving the market growth. Moreover, growing traction for sports and recreational activities and rising awareness related to the advantages of consuming gummy supplements are also propelling the growth of the global gummy supplements market.
Furthermore, social media also plays a significant role in fitness motivation and influencing self-improvement. For instance, social media platforms, such as Instagram, Twitter, and Pinterest, have boosted the popularity of the health and fitness industry, with many celebrities and influencers introducing users to new fitness regimes and gummy supplements, highlighting the benefits they offer to their physical and mental health, in turn, aiding the gummy supplements demand.
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The growth of gummy supplements is also driven due to the increasing occurrence of pill fatigue. Pill fatigue is defined as "unwillingness to continue treatment due to the nuisance of having to take a multiplicity of doses" and "loss of desire to take medication over time due to high pill burden." While many supplement users have trouble swallowing pills and feel exhausted by the number of tablets and pills to be consumed within a day, the gummy format provides a fun and easy way of ingesting supplements. Beyond relieving pill fatigue, this format also offers consumers a delightful sensory experience. This format is becoming more popular with consumers as they are enjoyable in terms of mouthfeel, appearance, smell, taste, and interactive experience. The advantages of the gummy format are driving the demand for gummy supplements worldwide.
In 2020, North America accounted for the largest share of the global gummy supplements market. The US is the major market for gummy supplements in this region due to a rise in obesity, cardiovascular disease, constipation, and other disorders. As a result, consumers are increasingly turning to gummy supplements in the region. Moreover, the region is dominated by key players, such as Amway Corp. and Bayer AG. These players are continuously focusing on fulfilling the rising demand for gummy supplements.
The gummy supplements market is highly competitive with presence of a large number of manufacturers competing on the basis of product differentiation and price. In 2020, North America led the global gummy supplements market owing to rising prevalence of chronic and lifestyle diseases such as obesity, diabetes, and heart diseases in the region coupled with majority of consumers shifting toward active lifestyles. Based on product type, the skin health segment is projected to grow at the fastest CAGR owing to rising concerns regarding skin issues such as acne, wrinkles, fine lines, dark circles, etc.
Based on the distribution channel, the specialty stores segment held the largest market share owing to the availability of a wide range of products of different brands coupled with the presence of knowledgeable staff that helps consumers in finding the right product. The global gummy supplements market is primarily driven by increasing consumer focus on preventive health and the availability of innovative products across multiple retail channels.
Leading companies are continuously involved in merger and acquisition activities to introduce innovative products in the gummy supplements market. For instance, in July 2020, Amway Corp. announced a partnership with South Korea-based Holzapfel Effective Microbes (HEM). Companies will produce personalized probiotics to promote wellness through gut-health-related benefits, such as weight management, immunity, brain health, skin health, and more. All these factors are contributing to the growth of the market in the region.
Increasing Consumer Preference for Preventive Health to Boost Market Growth
In recent years, health and fitness have picked up pace as a trend due to the rising prevalence of various diseases, such as cancer and cardiovascular disorders, and several medical conditions, including diabetes, high blood pressure, obesity, and high cholesterol. People have become more aware and concerned about their health and physique over the last few years, which has led to the increasing popularity of gummy supplements worldwide. Millions of people of various age groups, backgrounds, and geographies are embracing fitness worldwide to better their physical health and overall well-being, boosting the demand for dietary supplements. Thus, the increasing consumer preference for preventive health fuels the market's growth.
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Gummy Supplements Market: Segmental Overview
Based on type, the gummy supplements market is segmented into digestive health, heart health, immune health, stress management, brain health, skin health, healthy aging, sports nutrition, weight loss, multivitamins, single vitamins, probiotics, men's health, women's health, others. In 2020, the multivitamins segment accounted for the largest revenue share in the market. Based on end users, the market is segmented into adults and kids. In 2020, the adult's segment accounted for the largest market share.
Impact of COVID-19 Pandemic on Gummy Supplements Market
The COVID-19 pandemic has mixedly impacted the overall dietary supplement sector. Initially, the COVID-19 had a substantial impact on the market because of the decrease in manufacturing. The imposition of lockdown halted manufacturing activities, resulting in a decrease in supply. In addition, travel restrictions worldwide made it difficult to transport raw materials, which impacted the worldwide economy negatively. However, post ease of lockdown restrictions and vaccinations, the nutraceuticals industry, including the gummy supplements market, recovered and portrayed a high growth rate after the pandemic.
The demand for gummy supplements surged during the COVID-19 period due to studies claiming that gummy supplements can help enhance the immune system. Due to COVID-19, consumers have been increasingly attentive to their health and wellness. For instance, between January and April 2020, posts including the term "immunity" were up by 134% on social media platforms as per data published by gummy supplements contract manufacturer, named FONA International Inc.
Further, rising influence of social media and celebrity endorsements is also likely to boost the gummy supplements market. Over the past few years, the number of social media players has increased dramatically, owing to the rising penetration of the internet and smartphones. People are heavily influenced by social media influencers and celebrities and try to follow them. Brands benefit from the growing influence of social media and celebrities on people.
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Gummy supplements have become increasingly popular among adults and kids owing to their easy consumption and availability of a wide range of flavors. Gummy supplements are the most rapidly accepted format of dietary supplements. There are various types of gummy supplements available that target different health concerns. This includes gummies that promote hair growth, reduce acne, increase immunity, improves sleep, boost energy levels, and enhance brain functioning, among others. Moreover, the manufacturers are also offering plant-based, organic, GMO-free, and allergen-free gummies to attract a large number of consumers.
Gummy supplements are generally made from gelatin. Gelatin is a protein obtained by boiling bones, ligaments, tendons, and/or skin with water. It is usually sourced from pigs or cows. Additionally, the raw material for gelatin is sourced from waste products in the food processing industry. There are general concerns regarding the safety of gelatin as it is derived from animal sources. The vegan and vegetarian population have reservations about consuming gummy supplements made from gelatin. As the vegan lifestyle is becoming more and more popular, the demand for plant-based supplements is also growing. Therefore, the demand for plant-based gummy supplements is increasing which is likely to drive the overall gummy supplements market growth.
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