Gummy Vitamins Market Share, Size, Growth | Industry Analysis 2023-2028
Significant growth in the nutraceutical industry is one of the key factors driving the market growth.
The latest report by IMARC Group, titled “Gummy Vitamins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, The global gummy vitamins market size reached US$ 6.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.25% during 2023-2028.
Industry Definition and Application:
Gummy vitamins are chewable products with a texture and taste similar to gummy candies. These supplements are made from a mixture of cornstarch, gelatin, sugar, water, and added colorings and are commonly available in various shapes, colors, and flavors. They are consumed to increase nutritional intake as they are a rich source of iron, calcium, magnesium, and vitamins A, B, C, D, and E. Since they offer ease of storage, swallowing, digestion, and absorption in the body, gummy vitamins are gaining immense traction across the globe.
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Gummy Vitamins Market Trends:
The global gummy vitamins market is primarily driven by the increasing awareness among individuals about the benefits of regularly consuming dietary supplements. Moreover, the rising consumption of gummy vitamins to prevent chronic diseases and maintain physical and mental well-being due to the increasing prevalence of nutritional deficiencies among children and adults is positively influencing the market growth. Additionally, the surging adoption of Vitamin C supplements to boost immunity against coronavirus disease (COVID-19) has catalyzed the market. Furthermore, several key players are introducing innovative product variants made from natural and organic ingredients, including gummy vitamins in unique flavors such as apple, pineapple, orange, strawberry, lime, cola, and cherry, thereby contributing to the market growth. Other factors, including increasing research and development (R&D) activities, inflating consumer disposable incomes, and easy product availability via e-commerce platforms, are also anticipated to drive the market further.
Global Gummy Vitamins Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Bayer AG
- Bettera Wellness LLC
- Church & Dwight Co. Inc.
- Hero Nutritionals
- Ion Labs Inc. (DCC plc)
- Nature's Way Products LLC. (Dr. Willmar Schwabe GmbH & Co. KG)
- Pfizer Inc.
- Pharmavite (Otsuka Pharmaceutical Co. Ltd)
- Santa Cruz Nutritionals
- SmartyPants Vitamins (Unilever plc)
- The Honest Company Inc.
- Vitakem Nutraceutical Inc.
The report has segmented the market on the basis on type, demographics and sales channel.
Breakup by Type:
- Single Vitamin
- Multi Vitamin
- Prebiotics and Probiotics
Breakup by Demographics:
Breakup by Sales Channel:
- Supermarkets and Hypermarkets
- Speciality Stores
- Retail Pharmacies
- Online Stores
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Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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