Product ID: UCMIG30I2204
Report ID:
UCMIG30I2204 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2020, the global gummy market achieved a significant milestone with a value of approximately USD 16.28 billion. Looking ahead, industry experts anticipate robust growth in this sector, projecting a compound annual growth rate (CAGR) of 12.6% between 2020 and 2028. This positive outlook is driven by several factors, including increasing consumer preference for convenient and indulgent snack options, the widespread popularity of gummies among various age groups, and the continuous innovation and diversification of gummy products by manufacturers. With the expanding market potential and evolving consumer demands, the gummy industry is poised for sustained expansion in the coming years, creating opportunities for both established and emerging market players.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG30I2204