USD 5.04 billion
Report ID: SQMIG35I2229 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 115 | Figures: 77
Gummy Vitamins Market size was valued at USD 5.04 billion in 2021 and is poised to grow from USD 5.5 billion in 2022 to USD 6.04 billion by 2030, growing at a CAGR of 9.17% in the forecast period (2023-2030).
Gummy vitamins are easy to chew and are popular with people who have difficulty swallowing pills. Innovative products such as hemp-based gummies and pet gummies have reached the market in response to increased customer demand for additional vitamin sources. Previously, corporations only produced gummy vitamins in a few flavours and colours. However, with increased awareness and use, these have achieved wider recognition and acceptance. Church & Dwight Co., Inc., a U.S. producer focused on developing a line of gummies in a variety of flavours, including lemon, orange, cherry, strawberry, and others.
In March 2020, US-based start-up 16VIT developed numerous sticky vitamin supplements, including START, BLINK, CONTINUE and RESET, for the health of modern gamers. The company is well positioned to tap into the growing vitamin supplements market, with a growing variety of supplements, energy drinks, and multivitamins aimed at the avid gamer. Growing population and consumer knowledge in both emerging and developed countries are key factors driving consumer preference for nutritional products such as dietary supplements. Due to the increasing demand for such products, many manufacturers have introduced various vitamin supplements in the market. Manufacturers offering new products for special consumers such as vegetarians, diabetics, adults, and children have also helped expand the market.
After the emergence of COVID-19, the market for immune boosters grew significantly. Vitamin C and D intake have been linked to increased immunity. Consumers have become more health conscious, looking for nutritious foods to ward off diseases and improve their mental and physical health. These are particularly appealing to consumers because of their superior taste. Supplements are avoided by children and the elderly due to their unpleasant, pungent, and strong tastes. Gummy vitamins were created to help the elderly and young who have difficulty swallowing vitamin pills. As a result, the market is expected to expand in the coming years. While these frequently contain a few grams of sugar, vitamin pills are calorie and sugar-free. An increase in sugar intake can lead to an increased risk for diseases including diabetes and heart disease. Gummy vitamin overconsumption in children can result in health problems such as kidney stones. Minerals such as iron are frequently left out of gummies because they are difficult to include. These reasons are expected to restrain the market growth.
US Gummy Vitamins Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.04 billion
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Global Gummy Vitamins Market is segmented on the basis of distribution channel, source, application, end-user, and region. By distribution channel, the market is segmented into non-store-based and store-based. By source, market is segmented into plants and animals. By application, market is segmented into vitamins, minerals, omega fatty acids, proteins, and other substances (Probiotics, Botanicals, and Fibers). By end use, market is segmented into adults and children. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Gummy Vitamins Market Analysis by Distribution Channel
The segment for non-store distribution channels is expected to experience a CAGR of over 14% during the forecast period. The increasing sophistication of consumer needs along with the increasing prevalence of e-commerce is primarily driving the expansion of this market. Major manufacturers are accessing new distribution channels to interact with a wider customer base, which has led to increased sales of products through non-store-based channels such as online stores and other e-retailers such as Amazon, 1mg, and others. Non-store-based channels also include network marketing and direct sales of products that do not require a physical store, such as those offered by Amway. According to the World Federation of Direct Selling Associations (WFDSA), independent direct sellers generated approximately USD 180.4 billion in sales worldwide in 2019.
Wellness products accounted for 36% of all products sold through direct selling worldwide. As a result, gummy supplement manufacturers may benefit from direct selling. However, the COVID-19 pandemic resulted in a decrease in direct selling sales due to lockdowns established across multiple regions to minimize disease spread. Online channels provide a simple one-click solution. With the increasing adoption of cellphones and e-commerce sites, the segment's growth is expected to be boosted by the rising young and working-class population.
Gummy Vitamins Market Analysis by Source
The revenue share of the plant segment was the highest in 2021. A growing vegetarian population, as well as growing concern about the environmental impact of dairy and meat-based products, is driving the market demand for plant-based products. Plant-based vitamin sources are becoming more popular as consumer preferences in the marketplace change. Fortified foods, mushrooms, algae, cereals, nutritional yeast, leafy greens, fruits, sea vegetables, avocados, and other plant-based vitamin sources are employed to create vitamin-based sticky vitamins. For example, in December 2021, a strawberry-flavored gummy candy using plant-based ingredients enhanced with B12 and D3 was introduced to the vegan community, which is expected to meet the needs of vegans.
Revenue from the animal segment is expected to grow at a moderate rate throughout the forecast period. Gelatin, a byproduct of animal bones, is a regularly used ingredient in animal-based chewable vitamins. Additionally, gelatin can be prepared by boiling animal skin, tendons, ligaments, and other body components. The use of animal-derived vitamin-based gummies as snacks for children is likely to drive revenue growth in the market.
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In 2021, according to a regional study, the North America gummy vitamins market accounted for the largest revenue share. The growing number of health-conscious consumers is increasing the demand for consumable supplements and gummies as daily necessities. The growing vegetarian population is projected to increase the demand for plant-based vegetarian nutritional gummies. For example, in January 2022, Vegum announced the debut of a plant-based vitamin gummy for the vegetarian community in the United States to fuel the growing plant-forward crowd with growing awareness of the dairy and meat industries. Sales of these vitamins in the region are likely to increase due to hassle-free consumption and bear-sized gummies.
Asia Pacific is expected to grow at a significant CAGR during the forecast period. The prevalence of malnourished populations in APAC countries, particularly in India, is expected to drive the regional demand for gummy vitamins. To meet these countries' criteria, major competitors and startups are expanding their existing business processes. In July 2021, Power Gummies, a nutraceutical Indian firm, announced plans to expand its presence to around 1,000 outlets in India. The company plans to offer around 40 adhesive variants to meet customer needs.
Europe is expected to exhibit a moderate rate of revenue growth during the forecast period. Increasing population concerns, public awareness, and adequate investment to enhance the process of launching new products are driving revenue growth in the market of this region. Revenue growth is expected due to new product types and changing consumer preferences. For example, in August 2021, Yummygums, a Dutch startup, received a USD 1 26 million investment from Rabobank, a Dutch bank, and a group of business angels. Apart from major internationalization, the firm intends to produce vitamin-based fruity gummies to encourage people to adopt good behavior.
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Gummy Vitamins Market Drivers
Growing vegetarian population and the spread of the malnourished population
Gummy Vitamins Market Restraints
Available substitutes and less effectiveness of gummy vitamins
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Global Gummy Vitamins Market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share.
For example, In July 2022, Mankind Pharma, a well-known pharmaceutical company in India, launched its first series of multivitamin candies for children under the Health OK brand. This gummy multivitamin is recommended for teens and children aged 7 to 17. It promotes healthy growth as well as a stronger immune system. It comes in two flavors: lemon and strawberry, and it contain vitamins A, B12, C, and D, as well as zinc, calcium, iodine, and magnesium.
In August 2021, Catalent Inc., a company based in New Jersey, announced that it would buy Bettera Holdings LLC, a company that makes vitamin-based soft chew and gummy candies and is for USD $1 billion. The acquisition aims to considerably expand the consumer health business and give clients access to tremendous potential in the global market for vitamin-based lozenges, soft chews, and gummies.
In August 2021, MegaFood, a US-based dietary supplement provider of real food and critical minerals, announced that it will expand its multivitamin line with multivitamin-based gummies for various age groups. The gummies are vegetarian, Non-GMO Project Verified, gluten-free, glyphosate residue-free, and dairy-free promoting wellbeing and optimal health for men, women, and children aged 4 and up, as well as pregnant women.
Gummy Vitamins Market Top Player’s Company Profiles
Nature's Bounty Co.
Olly Public Benefit Corporation
Life Science Nutritionals Inc.
Hero Nutritionals LLC
Rainbow Light Nutritional Systems
Nutramax Laboratories Inc.
Nordic Naturals Inc.
The Honest Company Inc.
Natural Dynamix LLC
Garden of Life LLC
Pure Encapsulations Inc.
Country Life LLC
Bluebonnet Nutrition Corporation
Gummy Vitamins Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global gummy vitamins market analysis, innovative products such as hemp-based gummies and pet gummies have entered the market in response to growing consumer demand for additional vitamin sources. However, with increasing awareness and use, these have become more widely recognized and accepted. In March 2020, US-based start-up 16VIT developed a variety of sticky vitamin supplements, including START, BLINK, CONTINUE and RESET, for the health of modern gamers. The segment for non-store distribution channels is expected to experience a CAGR of more than 14% during the forecast period. The increasing sophistication of consumer needs along with the increasing prevalence of e-commerce is primarily driving the expansion of this market. North America market accounted for the largest revenue share. The growing number of health-conscious consumers is increasing the demand for consumable supplements and gummies as daily necessities. However, available substitutes for these vitamins and less effectiveness of gummy vitamins hampers market growth.
|Market size value in 2021
|USD 5.04 billion
|Market size value in 2030
|USD 6.04 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Gummy Vitamins Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Gummy Vitamins Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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