ID: MRFR/F-B & N/7323-CR | February 2020 | Region: Global | 100 pages
Gummy Supplements Market is projected to register a CAGR of 8.40% and reach USD 8.8 Million by 2025.
The benefits of gummy supplements are more than prevalent in millennials across the world. It can be termed as a chewable supplement that can be brought in different flavors of personal choice. Owing to the changing lifestyle, constant race against time, rise in the quantum of disposal incomes, along with the emerging awareness amongst people for healthcare measures that are preventive in nature, the vegan omega3 gummy supplements are widening their scale of operations. The gummy supplements are filled with the goodness of essential vitamins and minerals, blends, and proteins, along with the omega fatty acids.
The fiber gummy supplements are sold to the customers through different distribution channels like supermarkets, specialty, and convenience stores. The main aim behind this is to expand the service and operation line with a wide customer base. The fortified gummies are expected to register a CAGR growth of 8.40% by the end of the forecast year of 2025.
There are moderated implications of the supply for fortified gummies because of the spread of the novel coronavirus. The supply chain management for the final products to be sold in the market was exposed to various adverse impacts of COVID19 like the lockdowns. The gummy supplements market is majorly dependent on exports from different regions. Due to the imposition of restrictions related to international travel or export ban. The transition of glutathione gummy supplements is expected to regain momentum along with increased consumption in different regions.
The spread of coronavirus has led people to take care of their lifestyle and thus, keep proper track of the consumption of necessary immunity-boosters, vitamins, and minerals. The government is also taking up initiatives for spreading awareness, and mass distribution of Vitamin C, and D supplements. Also, the vegan omega3 gummy supplements are being exported to international borders, thus, helping the market cover up the losses due to the spread of coronavirus.
There is a growth in the quantum of consumers that are concerned about their health. They are demanding food items and by-products that have the capability to prevent diseases from entering the body and provide an overall improvement in the body. Also, the aging population is on the rise that is more in need of iron gummy supplements. Both the developing and developed countries are looking for sources through which they can meet the demand for healthy ingredients in the form of food and dietary supplements.
The probiotic gummy supplements that are available for sale in the market are a by-product of synthetic. Also, these synthetic vitamins are experiencing great popularity. However, the raw material for the preparation of the gummy supplements is not available in abundance. Hence, there is a high cost of production. Most of the synthetic vitamin supplements are either prepared with the help of petroleum extracts or the derivatives of coal tar. These might be cheaper materials but still, the investment cost is relatively high.
The global gummy supplements market analysis shows that formulation challenges are the biggest for the market. The formulations further push the development of other additional challenges like the preparation of capsules and tablets to cover the issues related to vitamin stability in the gummies. In some circumstances, manufacturers are adding huge quantities of vitamins while producing that might affect the pectin, as well as, the gelatin bonds in the body. These issues will further result in softening the bonds and harming their stability.
Value Chain Analysis
Immense traction for mass consumption of the gummy supplements market is on the rise since 2014-2015. The main reason behind this is the flavor, taste, techniques for advertising, convenience for mass sale and consumption, along with the health benefits that come tagged along with the consumption of fiber gummy supplements. Also, the key players in the market are making use of cheaper and natural alternatives.
The key players are also taking up initiatives to create awareness for the demand for gummy supplements, and the product variation and taste variety. The government is also increasing its investment in the market to help the manufacturers come up with new flavors.
Gummy Supplements Market Segment Overview
The gummy supplements market research market is divided into various segments owing to the divergence of the products, and their demand. These are as follows:
The vitamins and minerals, along with the protein blends. Also, the omega fatty acids are counted as a part of the product type of gummy supplements. Vitamins further consist of vitamins and multivitamins. This market sub-segment is expected to have the highest market valuation by the end of the forecast period of 2025. A CAGR growth of 9.26% for vitamins is expected.
The benefits of gummy supplements are within the proper reach of end-users. These include both the young generation, along with the old-age group.
Both the store-based and non-store-based distribution channels are used by the manufacturers to make the gummies available to the end-users.
The forecast period of 2019-2025 sees the region of North America as the most prominent player. During the previous forecast period that ended in 2018, North America had a market share of 40.55%. The expected CAGR growth by the North American market for the current forecast period of 2019-2025 stands at 8.33%. The key players belonging to Canada, and the US, are working great on the product portfolios. Also, there is a growing awareness amongst people related to the product launches and their benefits.
The Asian Pacific region is also expected to grow similar to the North American region. The untapped potential in collaboration to the awareness in people and increased investment size is likely to help the market register good growth by the end of the forecast period of 2019-2025. Due to the increasing population having a higher risk of contracting chronic diseases, and get over vitamin deficiencies, the global gummy supplements market is expected to experience a rise. Europe is also likely to register a decent growth for the growing demand for organic products in the form of supplements.
Competitive Landscape of the Gummy Supplements Market
The competitive landscape of the gummy supplements market includes the following market players:
The key market players are developing and launching gummies that are a combination of natural fibers and flavors that are extracted from fruits. With this, the companies on a global level are able to cater to the dynamicity of customers’ tastes and preferences. This is emerging as a great growth opportunity for both the regional and players on the global level.
Vitafusion, a US company launched its product line in March 2020. The gummies are available in peach flavor and also come in apple cider vinegar taste. Vitafusion, with its parent company - Church and Dwight had launched Vitafusion Organic. These are the organic supplements that are inclusive of men’s and women’s multivitamins. Vitamin D3, and B-12, are also included.
Nutranext signed an acquisition with Clorox Company in March 2018. This resulted in a great boost for the company’s growth. The company was able to conduct expansions for its wellness portfolio and launch a new range of dietary supplements and digestive products that are good for the health. Softigel has also released its new product line recently that consists of supplements packed with the goodness of natural; echinacea, zinc, along with vitamins C, and D.
Gummy Supplements Market Report Overview
The gummy supplements market research report discusses the scope of the market in the historic years, present scenario, and the future forecast period of 2019-2025. The report also discusses the impact of the novel coronavirus, and what steps are being taken by the various governments, and key players to bounce back.
The market drivers, challenges, restraints, and growth opportunities, for the future, are mentioned. Also, the report bifurcates the market on the basis of the product, end-user, and the channels for distribution. The overall attempts on the regional and global level with highlighting the recent developments of the key players are expected to play a major role in growing the market by the end of the forecasted time of 2025.
|Market Size||USD 8.8 Million (2025)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Life Science Nutritionals (Canada), Nature's Bounty Co. (US), IM Healthcare (India), Bettera Brands LLC (US), Ernest Jackson (UK), Bayer Group (Germany), The Clorox Company (US), Boscogen, Inc (US), Sofigel (US), Santa Cruz, Nutritionals Inc. (US), Nature's Way Products, LLC (US), Zanon Vitamec Inc. (US), Herbaland Naturals Inc. (Canada),, Olly Public Benefit Corporation (US)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||Growing Demand for chewable supplement among adult|
Frequently Asked Questions (FAQ) :
USD 7,145.8 million by the end of the forecast period of 2019-2025.
The market is segmented based on the distribution channels, end-users, and product type