Gummy Vitamins Market to Attain Valuation of USD 7.89 Billion by 2028 at 7.30% CAGR - Report by Market Research Future (MRFR)

Gummy Vitamins Market Size and Trends by Type (Single Vitamins, Multi-vitamins), by End-User (Child, Adult), by Distribution Channel (Store-based, Non-store-based) - Forecast till 2028

New York, New York, UNITED STATES

New York, US, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR),"Gummy Vitamins Market Information by Type, End-User, Distribution Channel, and Region - Forecast till 2028”, the market can touch USD 7.89 Billion by 2028 while soaring at decent CAGR of 7.30% from 2020 to 2028.

Market Synopsis

A popular dietary supplement, a gummy vitamin is tasty and can be easily digested. But despite their popularity and the convenience they provide to the consumer, the fat-soluble vitamins present in these can cause harm if consumed excessively. Gummy vitamins have vitamins A, B, C, D, and E, as well as zinc. A few also have small levels of omega-3 fatty acids while other ingredients can be sugar, flavorings, and gelatin.

Females are one of the key consumers of gummy vitamins but children should emerge as the top consumers in the coming years. Organic now goes hand in hand with health, which trend anticipated to make its presence felt in the gummy vitamin products market.

Opportunities will be underpinned by the emergence of several e-Commerce channels that offer attractive deals as well as discounts, even international ones. The profitability of the market is inspiring new companies to enter and capitalize on the consumers’ rising preference for different flavors.

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Report Scope:

Report AttributeDetails
2028 Market SizeUSD 7.89 Billion
CAGR7.30% (2021–2028)
Base Year2020
Forecast Period2021-2028
Historical Data2019
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Coveredby Type, End-User, Distribution Channel, and Region
Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market DriversGrowing Demand For Chewable Supplements Among Adults
Rising Popularity Of Fortified Gummies

Market Competitive Landscape:

The affluent companies in the gummy vitamins market include

  • Church & Dwight Co. Inc. (US)
  • Nutra Solutions (US)
  • Herbaland Naturals Inc. (Canada)
  • The Nature's Bounty Co. (US)
  • ZanonVitamec Inc. (US)
  • Life Science Nutritionals (Canada)
  • Bettera Brands LLC (US), Softigel (US)
  • Nature's Way Products, LLC (US)
  • Olly Public Benefit Corporation (US)
  • Hero Nutritionals, LLC (US)
  • SmartyPants Inc. (US)
  • IM Healthcare (India)
  • Makers Nutrition, LLC (US)

July 2022

Mankind Pharma, a renowned pharmaceutical brand in India, has introduced its first series of multivitamin gummies for children under the Health OK brand. For teens and kids between the ages of 7 and 17, this gummy multivitamin supports healthy growth as well as a better immune system. It is available in two flavors, namely lemon as well as strawberry and has vitamins A, B12, C, and D, along with zinc, calcium, iodine, and magnesium.

Market USP Covered:

Market Drivers:

Gummy vitamins have permeated almost all age groups, adults and children alike. But recent years have seen a notable spurt in product consumption among the latter. Elderly individuals generally have a reduced appetite with advancing age, making them vulnerable to various illnesses as well as vitamin deficiencies since they are unable to get sufficient nutrients from the food they consume. This can only be addressed with the intake of gummy vitamins, which is the reason for their popularity among elderlies in recent years.

Gummy vitamins are also gaining prominence among elderly people due to the fact that vitamin deficiency among them is raising the chances of fragile bones, mental imbalance, and night blindness.

Organic gummy vitamins are now the latest rage among consumers, given the environment-friendly techniques the raw materials are grown, with no use of pesticides. GMO-based food items can lead to various side effects, severely affecting a person’s health. The chemical compounds found in GMO-based foods harm the person’s body, while their cause largely remains undetected. A few studies reveal that the intake of GMO foods can lead to liver damage or toxemia. Therefore, consumers are now more inclined towards organic, non-GMO-based, and natural gummy vitamins and similar products.

Browse In-depth Market Research Report (161 Pages) on Gummy Vitamins:

Market Restraints:

Gummy vitamins have a large sugar content that bolsters the chances of cavities, especially among kids. Also, their regular consumption can elevate the sugar level among those dealing with diabetes. In view of these side effects, consumers generally hesitate to buy these products, which could lead to a decline in the market expansion rate in the years ahead.

COVID 19 Analysis

The COVID-19 pandemic’s impact resulted in numerous repercussions on the world’s health status. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.

Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets.

However, the demand for natural, plant-based products has risen considerably, with the aim to remain healthy and ensure well-being. This should greatly benefit the global industry in the long run.

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Market Segmentation

By Type

Gummy vitamins come in various types, especially multivitamins as well as single vitamins.

By End-User

Adults, as well as, children are the key end-users-based segments in the market.

The child segment will be scaling the worldwide market at a significant rate in the future since this age group is extremely fond of savory items that come in attractive shapes and flavors.

By Distribution Channel

The main distribution channels in the market are store-based along with non-store-based.

Regional Insights

The Asia Pacific market size will touch USD 2,019.9 million by 2028-end, emerging as highly attractive, in terms of value. The APAC market shows significant growth potential, owing to the rapidly burgeoning middle-income population with a significant purchasing capacity. The region is filled with extremely competitive brands and businesses constantly adopting various strategies like partnerships and new launches. They are also capitalizing on new trends such as preventative healthcare and the rise in health consciousness among consumers, to enhance their presence in the region.

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