Market Research Future has published a cooked research report on the Global Gummy supplements market, 2022–2028. The global Gummy supplements market is projected to exhibit a CAGR of 9.17% during the forecast period of 2022 to 2028.
Market Research Future has recognized the following companies as the key players in the global Gummy supplements market: Bayer Group (Germany), Church & Dwight Co., Inc. (US), Pharmavite LLC (US), Nature's Way Products, LLC (US), Hero Nutritionals, LLC (US), Zanon Vitamec USA Inc. (US), Softigel (US), Rainbow Light Nutritional Systems, Inc. (US), Bettera Wellness Corp. (US), Herbaland Naturals Inc. (Canada), The Nature's Bounty Co. (US), Unilever (United Kingdom), Gimbals Fine Candies (US), Life Science Nutritionals (Canada).
The global Gummy supplements market is projected to be valued at USD 9,447.5 million by 2028, recording a CAGR of 9.17% during the forecast period. The global gummy supplement market is expected to witness substantial growth due to the increase in consumption of gummy supplements among kids and adults. The sweet taste and the availability of nutritious products in several delectable flavors are key factors driving the growth of the market. The deficiency of various vitamins is a major concern among consumers in recent times, which, in turn, is creating an opportunistic market for the players operating in this market. However, certain side effects associated with the overconsumption of the product restrain the growth of the market.
The global Gummy supplements market has been segmented based on type, end user, distribution channel and region.
Based on type, the global market has been segmented into vitamins, minerals, omega fatty acid, proteins, blends and others. The vitamins segment accounted for the largest market share of 74.49% in 2021. Vitamins are organic compounds and vital nutrients for the human body. They are majorly used in supplements and other food & beverages as an important ingredient. Earlier, supplements were available in form of pills, capsules, or liquid. The consumption pattern of supplements changed significantly in the recent time. The manufacturers are also emphasizing new product development to increase the customer base. Consumers are also inclined to adopt new products. Thus, the demand for the gummy vitamins is expected to increase during the forecast period, 2022–2028.
Based on the end user, the global gummy supplements market has been segmented into adults and kids. The adults segment accounted for a larger market share of 71.59% in 2021. Gummy supplements are majorly available in the market, especially for adults. The adults segment accounted for a major global market share, and the trend is expected to continue throughout the forecast period. The sale of supplements is experiencing massive growth over the last few years owing to the growing awareness regarding healthcare. Supplements come in several forms, such as capsules, tablets, and gummies. Among forms, the gummies segment is highly preferred by consumers owing to the taste. Moreover, the products have gained massive acceptance among consumers due to their high availability in different flavors.
Based on distribution channel, the global gummy supplements market has been segmented into store-based and non-store-based. The store-based segment accounted for a larger market share of 83.07% in 2021. Store-based distribution channel includes supermarkets & hypermarkets, drug stores, and others. Supermarkets& hypermarkets mainly contribute to the sale of gummy supplements. Drug stores have a noticeable contribution in the distribution of gummy supplements. Consumer preference toward store-based channel as it provides a one-stop shopping experience.
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On the basis of region, the Gummy supplements market has been categorized as North America, Europe,Asia-Pacific, and Rest of the World. As per MRFR analysis,Asia-Pacific accounted market share of 31.15% of the global market in terms of value in 2021 growing at a CAGR of 9.32% during the forecast period. The growth of the market in the region is expected to be driven by various factors, such as urbanization and growth of the middle-income population. These factors have increased the consumption of supplements and consequently the demand for gummy supplements.Moreover, the increasing per capita disposable income of consumers has increased the sale of gummy supplements. Besides, the growing health awareness is one of the major factors driving the growth of the Asia-Pacific market. In addition, the key manufacturers of gummy supplements are targeting the region to increase the sales revenue.Europe dominates the market with a market share of 29.96% with a CAGR of 9.44% during the forecast period 2022-2028. The growth of the gummy supplements market is attributed to various factors. Consumers are increasingly opting for dietary supplements. However, adverse effects, e.g., pill fatigue, have led to inclination toward alternatives, which is driving the demand for gummy supplements. Moreover, technological advancements and innovations in the product offerings are driving the growth of the regional market. Also, the high demand for natural and organic food products among the consumers is boosting the growth of organic gummy supplements market in Europe. The growing demand for gummy supplements enriched with probiotics is another factor having positive impact on the growth of the regional market. Additionally, large presence of international brands and increasing promotional activities are factors contributing to the growth of the gummy supplements market in the region. North America holds a market share of 25.87% of the global market in 2021, growing at a CAGR of 9.21% during the forecast period. Expansion of the product portfolio of gummy supplements by the key manufacturers is one of the significant factors driving the growth of the market in the region. Innovation in the flavors of gummy supplements is expected to positively impact the growth of the market in North America. Moreover, the key manufacturers emphasize promotional activities to create strong awareness among consumers regarding product launch, which consequently is expected to accelerate the growth of the North America gummy supplements market.Rest of the World holds a market share of 13.02% of the global market in 2021, growing at a CAGR of 7.31% during the forecast period. Gummy supplements are gaining traction in the South America market over the last few years. Changing lifestyles of the people, coupled with demographical changes, is anticipated to be the key driving factor. Growing health consciousness and increasing promotions through social media have a major impact on the growth of market in this region. Urbanization and increasing per capita disposable income are influencing the regional market growth. Easy accessibility and widespread awareness are also facilitating the sale of gummy supplements in South America.
Key Findings of the Study: