Gummy Vitamins Market Overview
A number of supposedly adult gummies were introduced in the market as vitamins and supplements. Among the many choices were gummy vitamins for men and women with natural flavor. According to the recommendations by the National Institutes of Health (NIH), premenopausal women take more iron than a man. Some other factors contributing to the growth of this market are the availability of gummy vitamins in different shapes, flavors, and colors. The adoption rate of gummy vitamins in the U.S. is estimated to be maximum. The global market for gummy vitamins was valued at $2,864m in 2017 and is expected to reach $3,804m by 2023 growing at a CAGR of 4.8%.
Gummy Vitamins Market Outlook
Gummy vitamins are soft, small, chewable dietary supplements that taste like candy and are vitamin- enriched. These are originally formulated for children who do not want to take pills and are preferred by the elderly because of their visual appeal. They are convenient, fun-to-eat, and supplement all the nutrients required by the body. One advantage of gummies is that they are more appetizing than traditional pills. Also, being chewable, and there’s no risk that the product will break, which often happens with a tablet. Gummy vitamins are made very tastier and are available in wide variety of attractive delicious flavors that attract the young as well as adults. According to the report, single vitamins and multivitamins are the two main types of gummy vitamins sold in the market. Of the two, multivitamins account for a significant market share due to the rapid growth of multivitamin supplements and the development of new formulations.
Gummy Vitamins Market Growth Drivers
Increasing awareness campaigns on preventive care, increasing consumer demand for gummy vitamins due to the diversity of taste and shape, rising cases of undernourishment and malnutrition in developing countries, and the advent of new organic formulated gummy vitamins by major key players are helping to drive the market growth. In addition, an increasing interest in extending the life expectancy of these vitamins and prenatal vitamin products used by women during pregnancy is expected to equally influence the overall market growth during the forecast period.
Gummy Vitamins Market Challenges
According to the Gummy Vitamin report, the risk and side effects of overconsumption of gummy forms of vitamins are the main restraining factor for the growth of the gummy vitamin market.
Gummy Vitamins Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Gummy Vitamins Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the gender, age group, product type in different industry.
Gummy Vitamins Market Report: Industry Coverage
Gummy Vitamins Market – By Product: Single Vitamins and Multivitamins
Gummy Vitamins Market – By Gender: Male and Female
Gummy Vitamins Market – By Age: Children & Teen (Below 18 Years) and Adult (18+ Years)
Gummy Vitamins Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Rest of South America
- Europe: Germany, France, Italy, Spain, Russia, U.K. and Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea and Rest of Asia-Pacific
- Middle East & Africa: Israel, South Africa, South Arabia, Rest of Middle East& Africa
Gummy Vitamins Market Key Players
Some of the key players mentioned in this market research report include Boli Naturals LLC, Ferrara Candy Company, Bayer AG, Makers Nutrition LLC, Nutra Solutions USA, Ernest Jackson, and Softigel.
Gummy Vitamins Market Trends
- In most cases, gummy vitamins are bought offline by women to protect their beauty by improving their hair, nails, skin, and others. Collagen and biotin are supplements for beauty products rich in amino acids, which helps to strengthen the skin and increases the growth of the hair.
- Prenatal multivitamin gummies are becoming increasingly popular and are preferred by most women because it is a great way to feed moms with different vegetables and fruits, providing important plant-based nutrients as well as other essential nutrients and vitamins.
- Aesthetic Nutrition Pvt. Ltd., one of the industry's leading players, introduced a new product called power gummies hair vitamins that act as an alternative to expensive hair improvement salon treatments. This product can revolutionize the hair care industry and replace expensive parlor costs.