Rockville, MD, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The global gummy vitamin market is projected to reach a value of US$ 7.18 billion by the end of 2034, up from US$ 4.36 billion in 2024, according to a recently updated Fact.MR industry analysis.
Well-known manufacturers of gummy vitamins are consistently creating new formulas in response to shifting consumer needs. More people are becoming interested in gummy vitamins as several companies are releasing products that are organic, vegan, and sugar-free. These products are being introduced by businesses as a result of the global trend toward natural and ethical food products.
Gummy vitamins are becoming more popular among consumers because of their tasty and convenient forms. Because gummies are tasty and easy to eat, many people prefer them over regular pills that can be difficult to swallow and typically have a medical connotation. People are drawn to gummy vitamins because of their delicious flavor and shape, which resembles candy.
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East Asia is set to hold a leading market position over the next ten years due to the high volume of aged population, rising demand for dietary supplements, and the existence of various leading market players. The North American region is also projected to hold a significant market share because of the rising prevalence of chronic illnesses, which is driving up demand for vitamins and nutraceuticals to maintain proper health.
Key Takeaways from Gummy Vitamin Market Study:
- The global market for gummy vitamins is forecasted to expand at a CAGR of 1% from 2024 to 2034. East Asia is set to account for 25.2% of the global market share in 2024.
- The market in South Korea is forecasted to expand at a CAGR of 4% from 2024 to 2034. The market in China is analyzed to generate revenue worth US$ 1.43 billion by the end of 2034.
- Based on customer orientation, the men segment is evaluated to generate revenue of US$ 3.05 billion by the end of 2034. In the North American region, revenue from gummy vitamins is projected to reach US$ 1.36 billion by 2034.
- The United States is estimated to account for 5% market share in the North American region in 2024. Sales of plant-based gummy vitamins are forecasted to reach US$ 4.62 billion by the end of 2034.
“Prominent gummy vitamin manufacturers are developing and releasing new products to address a range of health concerns, including those for energy boost, immune system support, digestive health, and others,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Gummy Vitamin Market:
Nestle SA; Zanon Vitamec Inc.; Bayer AG; Pfizer Inc.; Herbaland Naturals Inc.; Hero Nutritionals; Church & Dwight Inc.; Ernest Jackson; The Honest Company Inc.; Pharmavite LLC; Boscogen Inc.; GlaxoSmithKline (GSK); Vitakem Nutraceutical Inc.; Unilever PLC (OLLY); Nature Made; SmartyPants Vitamins; Vitamin Shoppe; Wedjat Health Solutions; Elo Health; Centrum; Vitafusion; Mankind Pharma.
Gummy Vitamin Industry News & Trends:
- Nature Made released Multivitamin Gummies with a pickle taste in April 2024. This vitamin taste, which is the brand's inaugural limited-edition offering, has the ideal balance of salt and sour.
- As its newest product for children aged 4 and above with digestive health advantages, SmartyPants Vitamins introduced Kids Fiber & Veggies, a brand-new gummy supplement made to promote regular digestion, in April 2024.
- A new line of wellness candies that are only sold at The Vitamin Shoppe, Super Supplements stores, and on vitaminshoppe.com was introduced in March 2024 by The Vitamin Shoppe and Imara's Beauty. The purpose of these gummies is to assist customers in reaching their wellness and health objectives.
- With a forward-thinking approach to wellbeing, Wedjat Health Solutions launched Health Etc., India's first doctor-formulated gummy vitamin brand, in February 2024. These delicious, chewable snacks offer a fun and effective method to meet a person's individual nutritional needs by eliminating the need for the traditional pill routine.
- In order to provide its customers with the opportunity to consume customized 3D-printed gummy supplements, customized nutrition firm Elo Health announced in October 2023 that it has partnered with Nourished, a manufacturer of nutritional gummies.
- A new line of high-science supplements dubbed "Benefit Blends," which come in a delicious gummy form and have several advantages, was introduced to the Indian market by Centrum in April 2023. Haleon now owns the multivitamin brand that was once owned by GlaxoSmithKline Consumer Healthcare.
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High Preference for Plant-Based Gummy Vitamins:
Demand for plant-based gummy vitamins is higher than that of animal-based ones. Many consumers, including vegetarians, vegans, and those seeking out supplements that are not sourced from animals, choose plant-based foods. Gummy vitamins made from plants also work well for people with special dietary requirements or allergies. Additionally, the growing concern over the ethical and environmental consequences of animal agriculture is driving rising sales of plant-based supplements. Gummy vitamins made from plants are often thought to be more natural and healthier than those made from animals.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the gummy vitamin market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (single vitamins, multivitamins, probiotic vitamins), source (animal-based, plant-based), customer orientation (men, women, children), packaging (bottles & jars, stand-up pouches), and sales channel (direct sales, modern trade, convenience stores, departmental stores, specialty stores, drug stores/pharmacies, online retailers), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Discover Additional Market Insights from Fact.MR Research:
Vitamins and Derivatives Market is valued at US$ 27.16 Bn in 2023. The global sales are forecasted to reach a market value of US$ 47.28 Bn by 2033
Dietary Supplement Market is expanding from an estimated $190.12 billion in 2024 to a colossal $410.46 billion by 2034, fueled by a CAGR of 8%.
Vitamin Supplement Market is expanding from an estimated $56 billion in 2024 to a colossal $115.5 billion by 2034, fueled by a CAGR of 7.5%.
Natural Health Supplement Market is expanding from an estimated $58.27 Bn in 2024 to a colossal $121.76 Bn by 2034, fueled by 7.6% CAGR.
Nutritional Blends Market is projected to reach a valuation of US$ 9.7 Billion by 2032. Rising health awareness to bolster nutritional blends market growth
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