New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gummy Vitamins Global Market Report 2023" - https://www.reportlinker.com/p06284124/?utm_source=GNW
, Nature’s Bounty, Softigel, Makers Nutrition LLC, Nutra Solutions, Ferrara Candy Company, and Zanon Lifesciences Pvt. Ltd.
The global gummy vitamins market grew from $6.47 billion in 2022 to $7.13 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The gummy vitamins market is expected to grow to $10.3 billion in 2027 at a CAGR of 9.6%.
The gummy vitamins market consists of sales of vitamin D3, gelatin, and corn starch.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Gummy vitamins refer to a variety of flavours, colours, and forms of chewable vitamins with a texture and flavour that are comparable to gummy candies.They are among the most widely used kind of vitamins.
Children and adults who dislike taking pills may find these vitamins appealing.
North America was the largest region in the gummy vitamins market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the gummy vitamins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of products in gummy vitamins are single vitamins, multivitamins, and probiotics.Probiotic supplements are available in several different forms, which protect the digestive tract from the harmful bacteria in sugar and also help with constipation, depression, skin problems, autoimmune disease, and even bad breath.
These are manufactured using plant and animal sources. These can be used by adults and children and are available at various sales channels such as hypermarkets and supermarkets, specialty stores, retail pharmacies, online sales channels, and other sales channels.
The growing undernourished population is significantly contributing to the growth of the gummy vitamin market.The undernourished population does not receive the minimal amount of food and nutrients required for growth.
The gummy vitamins are being used as a nutritional source to meet the nutritional demand and can offer health benefits to the undernourished population. For instance, according to the Food and Agriculture Organization, the global prevalence of undernourishment reached around 9.9% in 2020 with 768 million people, an increase of 8.4% from 2019. Therefore, growth in the undernourished population is expected to propel the growth of the gummy vitamins market over the coming years.
Product innovations have emerged as a key trend gaining popularity in the gummy vitamin market.Major companies operating in the gummy vitamin sector are focused on innovations to meet consumer demand and strengthen their position.
For instance, in June 2021, Vitamin Angels, a UK-based start-up, launched 3D-printed, high-impact, personalised gummy vitamins for kids.Each package includes 28 vegan gummies that are gluten-free, sugar-free, and free of artificial flavours and colors.
These are based on a monthly subscription and will be delivered through the letterbox every month.
In December 2020, Unilever, a UK-based consumer goods company, acquired SmartyPants Vitamins for an undisclosed amount.Through this acquisition, Unilever aimed to expand its supplement portfolio in the functional supplement and nutritional segment.
SmartyPants Vitamins is a US-based company that manufactures supplements, including gummy vitamins.
The countries covered in the gummy vitamins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The gummy vitamins market research report is one of a series of new reports that provides gummy vitamins market statistics, including gummy vitamins industry global market size, regional shares, competitors with a gummy vitamins market share, detailed gummy vitamins market segments, market trends and opportunities, and any further data you may need to thrive in the gummy vitamins industry. This gummy vitamins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06284124/?utm_source=GNW
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