Gummy Vitamins - Global Market Insights, Competitive Landscape, and Market Forecast - 2028

Gummy Vitamins - Global Market Insights, Competitive Landscape, and Market Forecast - 2028

Gummy Vitamins Market By Product Type (Single Vitamin And Multivitamins), Source (Plant-Based And Animal-Based), End-User (Adults And Pediatric), Distribution Channel (Hypermarkets And Supermarkets, Pharmacies, E-Commerce, And Others), and geography is estimated to register growth at a remarkable CAGR during the forecast period from 2023-2028 owing to rising cases of vitamin deficiencies among the population globally along with the rising advancements in delivering quality and nutrient rich gummy vitamins among others, across the globe.

The global gummy vitamins market was valued at USD XX billion in 2022, growing at a CAGR of XX% during the forecast period from 2023 to 2028 to reach USD XX billion by 2028. The gummy vitamins market is slated to witness positive growth due to the increasingly sedentary lifestyle of people globally, improper diet, lack of exercise, rising awareness among people to lead a healthy lifestyle, along with the rising advancements in delivering quality and nutrient-rich gummy vitamins across the globe, resulting in appreciable revenue growth of the gummy vitamins market during the forecast period (2023-2028).

Gummy Vitamins Market Dynamics:

One of the main factors for the growth of the Gummy Vitamins market is the rising number of unhealthy and improper diets among the population globally, leading to malnutrition and deficiency of essential vitamins and minerals. Due to the onset of a fast-paced world with a lack of exercise, and no exposure to sunlight, a sufficient amount of vitamins and minerals are not received and hence not optimally synthesized by the body. Due to all the abovementioned reasons, a decrease in the overall well-being of an individual is observed, where the individual is susceptible to had low immunity and is thus more prone to get diseases. This happens primarily because the daily requirements of macro and micronutrients are not met regularly, resulting in the need for supplements and therefore, vitamin supplements.

According to the data from UNICEF (2021), only two out of five children in need received the life-saving benefits of vitamin A supplementation in 2020. The source further stated that periodic, high-dose vitamin A supplementation is a proven, low-cost intervention, which has been shown to reduce all-cause mortality by 12 to 24 percent. The rising need for such vitamin supplementation and their increasing requirement among children and adults to fulfill their vitamin deficiencies is further expected to boost the market for gummy vitamins.

Gummy vitamins, owing to their chewy texture and candy-like taste, have observed a wide end-user base among both children and adults. The majority of the population, in all age groups, crave some kind of sweet candies, and owing to the gummy texture of these supplements, a vast majority of people can have it irrespective of time, without any potential health hazards. Thus, gummy vitamins aim to provide essential vitamins without compromising in taste.

However, the presence of synthetic vitamins in the gummy vitamins market, the high production costs, and the unavailability of raw and naturally sourced vitamins, among others, may be restraints for the gummy vitamins market growth.

Gummy Vitamins Market Segment Analysis:

Gummy Vitamins market By Product Type (Single Vitamin and Multivitamins), Source (Plant-Based and Animal-Based), End-User (Adults and Pediatric), Distribution Channel (Hypermarkets & Supermarkets, Pharmacies, E-Commerce, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

Based on the product-type segment in the gummy vitamins market, the multivitamins category is projected to register a significant growth in the overall revenue for the gummy vitamins market, during the forecast period (2023-2028).

This can be ascribed to the various advantages associated with multivitamin gummies, there increasing demand, and the rising number of innovative product launches by key players in this sector.

Single-vitamin gummies are only rich in one type of vitamin, adhering to the deficiency of the people being deficient in only one vitamin. But, multivitamins on the other side, provide a variety of essential vitamins whose deficiencies are found in people. However owing to the presence of different vitamins in gummies, the quantity of them in the composition is relatively less. Since a majority of children are attracted to sweets and candies in their teenage years, they can relatively consume multivitamin gummies, to ensure that they fulfill their vitamin requirements with no compromise in taste.

Therefore, considering the growing demand for this category, various multivitamin gummies are being launched in the market which are driving the market growth and pushing the overall gummy vitamins market. For example, in May 2022, Health OK, a multivitamin and minerals tablet of Mankind Pharma expanded its product offering with the launch of Gummies for Children under the age group of 7-17 years old, containing Vitamin A, B, C & D. Their regular intake can help kids stay active strengthening their bones, boosting immunity, and also improving brain functioning. The product also has a good source of zinc, magnesium, and iodine which are integral for promoting an optimal immune system.

North America is expected to dominate the overall Gummy Vitamins Market:

Among all the regions, North America is expected to lead in revenue generation in the global gummy vitamins market. This can be ascribed to the growing cases of vitamin deficiency among the North American population, increasing cases of obesity, and the rising awareness of inculcating a nutritious diet in their lifestyle, and others; the increasing advancements such as product launches will increase the demand for gummy vitamins in the region during the given forecast period.

According to statistics from the US Department of Health and Human Services and the US Department of Agriculture (2020), 94.3% of the US population does not meet the daily requirement for vitamin D, 88.5% for vitamin E, 52.2% for magnesium, 44.1% for calcium, 43.0% for vitamin A, and 38.9% for vitamin C.

The National Health and Nutrition Examination Survey (NHANES) (2021) stated that the prevalence of obesity in 2020 was 41.9% in the US. The source further stated that the rates of severe obesity in the US rose from 4.7% in 2017 to 9.2% in 2020. Gummy vitamins help suppress appetite by containing constituents like collagen, fiber, and probiotics, among others. These ingredients can work together and can help the body to feel fuller for a longer duration of time, thus reducing the overall calorie intake. To manage obesity, consumption levels of micronutrients need to be kept optimum, therefore gummy vitamins can serve as a good option for obese people who are on a weight loss regime, consuming candy like gummy vitamins, which can satisfy their sugar cravings too.

Along with this, the rising developmental activities in the gummy vitamins sector are further expected to drive the demand for gummy vitamins. In May 2021, vitafusion Gummy Vitamins, America’s No. 1 gummy vitamin brand launched their new brain food supplement, which features Ashwagandha, Phosphatidylserine, and B vitamins to help support brain nourishment, stress, and focus, to feed the brain by providing key nutrients. Therefore, the interplay of all the above-mentioned factors is expected to bolster the growth of the gummy vitamins market in the North America region during the forecast period.

Gummy Vitamins Market Key Players:

Some of the key market players operating in the Gummy Vitamins market include Amway Corporation, Abbott, Glanbia PLC, Bayer AG, Pfizer Inc., Suntory Holdings Ltd, Herbalife Nutrition, Otsuka Holdings Co. Ltd. , Glaxosmithkline PLC, The Bountiful Company, ADM, NU SKIN, Nature's Sunshine Products, Inc., RBK Nutraceuticals, American Health, Good Health New Zealand, International Flavors & Fragrances Inc., NOW Foods, Bionova, Carlyle Nutritionals, LLC, and others.

Recent Developmental Activities in Gummy Vitamins Market:

In December 2022, GNC introduced innovative holistic health solutions to market including the new GNC Mega Men® and GNC Women's 50+ Multivitamin Gummies. The new GNC Mega Men® and GNC Women's 50+ Multivitamin Gummies provide essential vitamins and minerals in a flavorful and convenient format helping consumers to feel better and to support the overall enhanced quality of life and longevity.

In June 2022, vitafusion™ introduced Multi + Immune Support*, a 2-in-1 gummy vitamin that is a daily multivitamin and includes Vitamin C and Zinc for immune support. It also introduced Multi + Beauty, another 2-in-1 multivitamin that includes Biotin and Retinol (vitamin A RAE) for hair, skin and nails support.

In April 2021, Persona Nutrition, a leading personalized vitamin program, launched the world's first daily gummy vitamin packs for the entire family with specific health goals, including immune health, focus, relaxation, everyday support as well as hair, skin and nail health. The new, all-natural gummies were developed by doctors and nutritionists to support kid, teen and adult health.

Key Takeaways from the Gummy Vitamins Market Report Study

Market size analysis for current gummy vitamins market size (2022), and market forecast for 5 years (2023-2028)

Top key product developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years

Key companies dominating the global gummy vitamins market.

Various opportunities available for the other competitor in the gummy vitamins market space.

What are the top-performing segments in 2022? How these segments will perform in 2028.

Which are the top-performing regions and countries in the current gummy vitamins market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for gummy vitamins market growth in the coming future?

Target Audience who can be benefited from this Gummy Vitamins Market Report Study

Gummy vitamins products providers

Research organizations and consulting companies

Gummy vitamins-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in gummy vitamins

Various distribution channels who want to know more about the gummy vitamins market and latest product innovations in the gummy vitamins market.

Frequently Asked Questions for Gummy Vitamins Market:

1. What are gummy vitamins?

Gummy supplements, commonly called gummy vitamins, are Gummy Vitamins containing a variety of vitamins, and are delivered to as gummy-candy-like products. They are considered more palatable than other vitamin formulations, as an alternative to regular vitamins in the hopes that people will be more inclined to take them.

2. What is the market for the global Gummy Vitamins?

The global gummy vitamins market was valued at USD XX billion in 2022, growing at a CAGR of XX% during the forecast period from 2023 to 2028 to reach USD XX billion by 2028.

3. What are the drivers for the global Gummy Vitamins market?

The Gummy Vitamins market is slated to witness positive growth due to the increasing sedentary lifestyle of people globally, improper diet, lack of exercise, rising awareness among people to lead a healthy lifestyle, along with the rising advancements in delivering quality and nutrient-rich gummy vitamins across the globe, resulting in appreciable revenue growth of the gummy vitamins market during the forecast period (2023-2028).

4. Who are the key players operating in the global Gummy Vitamins market?

Some of the key market players operating in the Gummy Vitamins market includes Amway Corporation, Abbott, Glanbia PLC, Bayer AG, Pfizer Inc., Suntory Holdings Ltd, Herbalife Nutrition, Otsuka Holdings Co. Ltd., Glaxosmithkline PLC, The Bountiful Company, ADM, NU SKIN, Nature's Sunshine Products, Inc., RBK Nutraceuticals, American Health, Good Health New Zealand, International Flavors & Fragrances Inc., NOW Foods, Bionova, Carlyle Nutritionals, LLC, and others.

5. Which region has the highest market share in the Gummy Vitamins market?

North America is expected to be the largest growing region in the overall gummy vitamins market during the forecast period from 2023 to 2028. This can be ascribed to the growing cases of vitamin deficiency among the North American population, increasing cases of obesity, and the rising awareness of inculcating a nutritious diet in their lifestyle, and others; the increasing advancements such as product launches in the gummy vitamins arena will increase the demand for gummy vitamins in the region during the given forecast period.

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