Richmond, Nov. 08, 2023 (GLOBE NEWSWIRE) -- According to a research report "Gummy Vitamins Market, by Type (Single Vitamins, Multivitamins, Probiotic Vitamin Gummies), Consumer Orientation (Adults, kids), Calories (High, Low), Shape (Traditional Round, Animal), Source (Plant Based, Animal Based), distributional channel ( Supermarkets/Hypermarkets, Pharmacies and Drug Stores, Online Retail Stores, Other Distribution Channel) and Region.
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TOC Covers in Depth & Breath on Gummy Vitamins Market
170 - Market Data Tables
68 - List of Figures
225 - Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Gummy vitamins are ingestible supplements with a chewable consistency and flavors reminiscent of gummy candies. They are available in a range of flavors, colors, and shapes. Vitamin gummies provide health advantages while enhancing the supplement experience for both children and adults. These gummy supplements are promoted to cater to various nutritional requirements. In response to the growing consumer demand for alternative sources of vitamins, the market has witnessed the introduction of innovative products like hemp-based gummies. Previously, companies offered gummy vitamins in a restricted range of flavors and colors. However, as awareness and consumption have increased, gummy vitamins have gained broader acceptance and popularity. For instance, Church & Dwight Co., Inc., a U.S.-based manufacturer that has concentrated on developing a range of gummies with unique flavors, including lemon, orange, cherry, strawberry, and more.
Major vendors in the global Gummy Vitamins Market - BAYER AG, Pharmavite, SmartyPants Vitamins, Wellnext Health, Church & Dwight Co. Inc., Life Science Nutritionals, Taura Natural Ingredients Ltd., Viva 5 Corporation, Olly Public Benefit Corporation, Nowamyl, and Others.
The expanding awareness of health and wellness among consumers.
Major driver for the Global Gummy Vitamins Market is the expanding awareness of health and wellness among consumers. With an increased focus on personal health and well-being, individuals are seeking convenient and enjoyable ways to supplement their diets with essential vitamins and minerals. Gummy vitamins provide a palatable and appealing option, particularly for children and individuals who have difficulty swallowing traditional pills. The rising prevalence of vitamin deficiencies, concerns about immune health, and a desire for preventive healthcare have further fueled the demand for gummy vitamins. Consumers are increasingly incorporating gummy supplements into their daily routines, and this heightened awareness of the role of vitamins in overall health acts as a substantial market driver.
Market Dynamics
Drivers:
- Customization and Variety of Formulations
- Growing Health and Wellness Awareness
- Increased Pediatric and Geriatric Usage
Opportunities:
- Sustainable Agriculture and Environmental Concerns
- Labor Shift and Rural-Urban Migration
- Data-Driven Decision-Making and Smart Farming
The expanding nutraceuticals industry create the significant opportunities
The significant market opportunity for the Global Gummy Vitamins Market is the ever-expanding nutraceuticals industry. Gummy vitamins are a popular form of nutraceuticals, which combine the benefits of nutrition and pharmaceuticals. With the increasing focus on preventive healthcare and holistic well-being, consumers are seeking nutraceutical products that offer health-enhancing properties. Gummy vitamins, being a convenient and tasty delivery method for essential nutrients, are well-positioned to tap into this growing market. The nutraceuticals industry's continuous diversification and innovation, with a focus on combining vitamins, minerals, and dietary supplements in appealing formats, open doors for gummy vitamins to meet various health and lifestyle needs. As consumer preferences continue to evolve, gummy vitamins can align with the demand for customized and specialized nutraceutical solutions.
The market for Gummy Vitamins is dominated by North America.
In 2022, the North American region dominated the Gummy Vitamins Market with the highest market share. The region is characterized by a health-conscious population that places significant emphasis on preventive healthcare. In North America, gummy vitamins are widely recognized for their convenience and appeal, especially among children and adults who may struggle with traditional pill supplements. The market benefits from a robust retail infrastructure, including pharmacies, supermarkets, and e-commerce platforms, which provide easy access to gummy vitamins. Additionally, a strong presence of key market players and a focus on product innovation contribute to the region's market dominance.
In U.S., gummy supplements have become the second most preferred supplement form, following the conventional capsules and tablets, signifying substantial growth within the U.S. gummy industry. As per the Council for Responsible Nutrition, gummy supplements constituted 14% of the total supplement sales in the U.S. in 2019.
The gummy industry in the Asia Pacific is anticipated to achieve highest Compound Annual Growth Rate (CAGR) from 2022 to 2030. The primary driver of this growth is the increasing consumer expenditure on health and wellness products, influenced by evolving lifestyles and higher disposable incomes. Economies such as China, India, and Japan are expected to play a pivotal role in propelling the industry's expansion. Additionally, the China gummy industry took the lead in the Asia Pacific market.
Furthermore, gummy manufacturers in the region are actively responding to consumer preferences by introducing a diverse range of flavours and fusion gummies designed to appeal to a younger demographic, including children. This strategic approach is poised to stimulate demand and significantly contribute to the gummies market's growth within the region.
Overall, while North America currently dominates the Gummy Vitamins market, Asia-Pacific, with countries like China and India, is expected to witness substantial growth and become a key player in the coming years.
The agricultural robot hardware- automated & controlled system segment is anticipated to hold the largest market share during the forecast period
The multivitamin gummies segment is projected to demonstrate highest growth rate in the foreseeable future, driven by the escalating demand for healthier alternatives to traditional pills. Multivitamin gummies are often favored over conventional pills and capsules due to their superior taste and flavors. These chewable tablets come in a diverse array of flavors, mimicking the delightful taste and texture of gummy candies. This quality makes them appealing to both adults and children, rendering them an excellent choice for families. By eliminating resistance to vitamin consumption, they serve people of all age groups effectively. A range of multivitamin gummy formulations is readily available, tailored to different age brackets, gender specifications, or specific health concerns. The customizable nature of gummies allows consumers to match their preferences, providing them with a sense of personalized nutrition.
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Recent Developments
- In March 2020, Church & Dwight Co. Inc.'s brand, Vitafusion, unveiled a lineup of six groundbreaking products, encompassing Organic Prenatal Multi, Irresistible Skin, Triple Immune Power, Apple Cider Vinegar, Kids Melatonin, and Teen Essential Multi. These innovations were introduced to cater to the previously unmet nutritional requirements within the gummy vitamin category.
- In March 2022, the San Francisco-based brand has introduced a gummy vitamin supplement in Singapore. Before this expansion, OLLY's gummy vitamins were exclusively available in Target stores and through Amazon within the United States..
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