Pune, India, February 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Gummy Supplements Market.
Gummy Supplements Market is projected to be valued at USD 7,145.8 Million by 2025, registering a CAGR of 8.40% during the forecast period. Gummy supplements are chewable supplements available in several delectable flavors. The growth of the global gummy supplements market is driven by the increase in consumption of gummy supplements among kids and adults along with the rising popularity of fortified gummies. However, the side effects associated with the overconsumption of gummy supplements are hampering the growth of the market. The increasing demand for natural and organic ingredients is expected to offer lucrative opportunities to the market players in the coming years.
North America held a dominant share of the gummy supplements market in 2018 owing to the high per capita disposable income of 18–34 years of age in the region. The US followed by Canada are among the lucrative markets for manufacturers in the region. Regular product launches followed by expansion plans of market players have further boosted the sale of gummy supplements in North America. The market in Europe is expected to exhibit the highest CAGR during the review period. Germany is the major gummy supplement market in the region due to the increasing adoption of dietary supplements. Other factors such as increasing demand for natural food ingredients and additives among consumers is expected to drive the growth of the gummy supplements market in the region. Increasing awareness and availability of these supplements in Asia-Pacific is expected to provide lucrative opportunities to gummy supplements manufacturers in the coming years.
The Global Gummy Supplements Market has been segmented on the basis of product Type, End User, Distribution Channel, and Region.
By product type, the market has been divided into vitamins, minerals, omega fatty acids, proteins, blends, and others. The vitamins segment accounted for the maximum market share in 2018, whereas the blends segment is expected to register the highest CAGR of 9.26% during the forecast period. The cost of the blends gummy supplements is low compared to other types of gummy supplements which can act as a major growth factor. Also, the key manufacturers of gummy supplements are introducing new multifunctional products in the blends segment, which is also a major factor driving the growth of the blends segment.
By the end-user, the market has been divided into adults and kids. The adult's segment accounted for maximum market share in 2018. The sale of supplements is increasing over the last few years owing to growing awareness regarding healthcare. Supplements come in several forms, such as capsules, tablets, and gummies, of which gummies are preferred due to the taste factor. Among end user, the gummies segment is highly preferred by kids owing to the availability of different flavors. However, the kids segment is expected to register the highest CAGR of 8.65% during the forecast period. The sale of kids’ gummy supplements is growing at an exponential rate owing to several factors. Gummy supplements taste similar to gummy candies, which is one of the major factors boosting the demand for the product. Due to the decent taste, parents are increasingly shifting to gummy supplements instead of tablets, capsules, and powder.
Based on the distribution channel, the global gummy supplements market has been classified as store-based and non-store-based. The store-based segment accounted for a larger market share in 2018. Consumers prefer store-based channels as they provide a one-stop shopping experience. This segment is projected to register a higher CAGR during the forecast period.
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Market Research Future recognizes include Bayer AG (Germany), Church & Dwight Co., Inc. (US), Pharmavite LLC (US), Hero Nutritionals, LLC (US), Nature's Way Products, LLC (US), Zanon Vitamec USA Inc. (US), Softigel (US), Bettera Wellness Corp. (US), The Nature's Bounty Co. (US), and Rainbow Light Nutritional Systems, Inc. (US) as the Key Players in the Global Gummy Supplements Market.
Geographically, the global gummy supplements market has been categorized into North America, Asia-Pacific, Europe, and the Rest of the World. As per MRFR analysis, North America accounted for the largest share in 2018. The European gummy supplements market accounted for the second-largest market share in 2018 and is projected to register the highest CAGR of 8.77% during the forecast period.
Key Findings of the Study