Selbyville, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) --
The multivitamin gummies market valuation is expected to cross USD 14.8 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rising shift towards preventive healthcare practices and the increasing availability of diverse gummy formulations will accelerate the business growth of multivitamin gummies over 2023–2032. Consumers are increasingly inclined to take proactive steps in maintaining their health, and the convenience and appealing taste of gummy vitamins make them an attractive choice. This dual trend is projected to drive substantial growth in the market, offering a broad range of health benefits.
For instance, in 2023, Voost, a P&G brand, broadened its product range by introducing Voost gummies, which cater to popular health categories such as men's and women's multivitamins, immunity, and B12. This expansion enhanced Voost's portfolio with these sought-after benefits.
The multivitamin gummies market from the general health application segment is projected to grow substantially from 2023 to 2032, led by growing consumer preferences for convenient and palatable ways to meet their nutritional needs. Gummies offer a tasty and easy-to-digest alternative to traditional pills, making them more appealing, particularly for those who have difficulty swallowing pills. In a fast-paced world, people seek dietary supplements that fit into their daily routines, and multivitamin gummies provide a delicious and accessible solution to promote overall health and well-being.
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The children segment will capture a substantial multivitamin gummies market share by 2032, primarily driven by the desire of parents to ensure their kids receive essential nutrients in a form that is both enjoyable and easy to administer. Multivitamin gummies offer a delicious and familiar taste, making them more appealing to children than traditional pills or capsules. Parents appreciate the convenience and peace of mind that these gummies provide, as they help bridge potential nutritional gaps and support their children's growth, development, and overall health.
Europe multivitamin gummies market will register noteworthy expansion between 2023 and 2032. The delicious and convenient form of multivitamin gummies appeals to consumers of all ages, making them a preferred choice for supplementing daily nutrition. Additionally, heightened health consciousness and a focus on preventive wellness have driven the demand for these supplements. Europe's aging population, in tandem with increased awareness of dietary deficiencies, has further boosted the popularity of multivitamin gummies as an accessible and tasty way to support overall health.
Some of the leading companies involved in the multivitamin gummies market include Bayer AG, Olly Nutrition (acquired by Unilever), Pfizer Inc. (Centrum), SmartyPants Vitamins, Hero Nutritional’s, Nature's Bounty Co., and LLC (Yummi Bears). Companies operating in this space are forming strategic collaborations and launching and marketing new products to extend their market reach. Additionally, they make substantial investments in research to introduce cutting-edge products, maximizing their revenue potential within the market.
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For instance, in 2023, Centrum broadened its product range in India, introducing 'Benefit Blends,' a new line of scientifically formulated gummy supplements. These appealing gummies offer diverse health benefits in a convenient and flavorful format.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Multivitamin gummies industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Source trends
2.5 End use trends
2.6 Application trends
2.7 Distribution Channel trends
Chapter 3 Multivitamin gummies market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By source
3.3.2 By end use
3.3.3 By application
3.3.4 By Distribution Channel
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 GAP analysis
3.11 Porter's analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
