New York, United States, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Gummy vitamins, often known as gummy supplements, resemble candies and are available in various colors, forms, and flavors. They are considered more flavorful than conventional vitamin formulations, although excessive sugar consumption may occur. They use cornstarch, gelatin, sugar, water, and colorings. Herbal supplements can manufacture gummy vitamins with extracts from plants such as ashwagandha and cannabis and astaxanthin generated from algae. Popular vitamin gummy tastes include raspberry, lemon, orange, and happy. Vitamin supplements are incredibly popular around the world. They improve health and can compensate for a poor diet. Moreover, gummy vitamins are easily digestible and popular among those with trouble swallowing tablets.
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Increase in the Prevalence of Dysphagia and Vitamin Deficiency Drives the Global Market
According to Straits Research, “The global gummy vitamins market share was valued at USD 7.2 billion in 2022. It is estimated to reach USD 12.47 billion by 2031, growing at a CAGR of 6.3% during the forecast period (2023–2031).” Around 38% of American individuals have difficulties swallowing medicines, per Straits Research. Vitamins in the gummy form are a fantastic aid for folks who have difficulty swallowing tablets. Gummy vitamins are a lot more practical than regular vitamin pills. Gummy vitamins are now generally accepted by both adults and children since they are simple to swallow. In recent years, the increase in chronic disease cases in industrialized nations such as North America and Europe has also increased the demand for gummy vitamins. Hence, market growth is projected due to the prevalence of dysphagia. Currently, the aging population is severely afflicted by health-related conditions. In addition, the effects of vitamin insufficiency can be minimized by consuming gummy vitamins daily.
Pectin as a Gelatin Substitute Creates Tremendous Opportunities
Gelatin is one of the world's most extensively used thickening and gelling substances. Bovine and pig are two of the most common sources of gelatin. There has been a substantial increase in vegetarian and vegan customers globally, with the number of vegans in the United Kingdom and the United States quadrupling over the previous few years. As a result, involved parties in the gummy vitamin market are increasingly releasing 100% vegetarian goods. Vitamins made with the aid of agar are positioned at the forefront of emerging customer demands in a dynamic market. In the future, the recent trend of gelatin-free gummy vitamins will undoubtedly prevail, offering prospects for market expansion.
Regional Analysis
North America is the most significant global gummy vitamins market shareholder and is anticipated to exhibit a CAGR of 5.2% during the forecast period. The major market participants have controlled the North American market for gummy vitamins. These market participants are implementing techniques such as innovative product introductions to remain competitive and relevant in a highly competitive and saturated market. For instance, Vitafusion, a renowned U.S. business, has introduced gummies laced with CBD hemp extract. In addition, Walmart introduced the new brand Glow Habit for gelatin-free gummy vitamins to meet the need of the vegan community, consequently accelerating the market expansion in this region. The market for gummy vitamins in North America includes the United States, Canada, and Mexico. Over-the-counter sales predominantly drive the U.S. and Canadian gummy vitamin markets. In addition, high levels of awareness and excellent channel management have enhanced vitamin gummy sales revenue in these nations.
European gummy vitamins industry share is estimated to exhibit a CAGR of 6.3% over the forecast period. In Europe, the number of brands providing gummy vitamin supplements has increased. The top manufacturers in the region are Ferrara Candy Company, Natural Well-being Ltd, ParkAcre Ltd, and Yumi Nutrition LTD. These players in the region offer an extensive selection of gummy vitamins for adults and children. Market leaders are also forming strategic alliances to extend their market presence, propelling market expansion in this region.
Key Highlights
- Based on type, the global gummy vitamins market is bifurcated into single vitamins, multivitamins, and prebiotics. The multivitamin segment owns the highest market share and is projected to exhibit a CAGR of 6.8% over the forecast period.
- Based on demographics, the global gummy vitamins market is divided into demographics into children and adults. The adult segment is responsible for the largest market share and is anticipated to grow at a CAGR of 6.3% over the forecast period.
- Based on sales channels, the global gummy vitamins market is segmented into hypermarkets and supermarkets, specialty stores, retail pharmacies, and online sales channels. The hypermarket and supermarket segment owns the highest market share and is estimated to exhibit a CAGR of 5.2% during the forecast period.
- North America is the most significant global gummy vitamins market shareholder and is anticipated to exhibit a CAGR of 5.2% during the forecast period.
Competitive Players
The Top 10 players in the global gummy vitamins industry are Bayer AG., Church & Dwight, Inc., Pfizer Inc., The Honest Company, Inc., SmartyPants Vitamins, Pharmavite LLC., Olly Public Bettera Wellness, Hero Nutritionals LLC., Benefit Corporation, and Ion Labs, Inc.
Market News
- In December 2022, GNC expanded its holistic health solutions by introducing a new method for consumers aged 50+ to fulfill their daily nutritional requirements. GNC Mega Men® and GNC Women Multivitamin Gummies are new launches from the firm.
- In March 2023, Akums Drug & Pharmaceutical Ltd announced its foray into nutraceutical gummies with various innovative formulations for general well-being and common diseases. This program aims to address a variety of illnesses, providing a remedy for adults, children, and the elderly who no longer find pills, capsules, and syrups palatable or convenient.
Global Gummy Vitamins Market: Segmentation
By Type
- Single Vitamin
- Multivitamin
- Prebiotics
By Demographics
- Children
- Adult
By Sales Channel
- Hypermarket and Supermarket
- Specialty Stores
- Retail Pharmacies
- Online Sales Channel
By Regions
- North America
- Europe
- Asia Pacific
- LAMEA
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