Gummy Supplements Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Gummy Supplements Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The gummy supplements market is projected to witness a CAGR of 4.88% during the forecast period, 2022 – 2027.

The COVID-19 crisis has impacted the overall gummy supplements industry, as many stores were shut down or reduced their business hours. For instance, Walmart announced that it would modify its store hours in response to the pandemic, while other retailers planned to temporarily close their stores. Many companies shortened their working hours to help employees restock shelves overnight and clean stores. Owing to the above-mentioned factors, online distributors are recording an increased interest, as consumers are exploring retail alternatives they can access from their homes.

The growing consumption of multivitamins in various formats is one of the most favorable reasons for the growth of the gummy supplements market. Furthermore, chewables are preferred primarily by children, giving opportunities for the manufacturers to innovate in terms of color, taste, and size.

The North American market for gummy supplements is one of the dominant ones. Here, most product launches are pivoted toward pregnancy/breastfeeding and joint health products. On the other hand, oral, energy, and stamina products are usually launched in Europe and Asia.

Children are generally reluctant to eat nutritious food, which often leads to deficiency disorders. Thus, parents are resorting to easily chewable nutraceutical products available in different formats, shapes, and flavors, such as gummy supplements. These days, nutraceutical products come in attractive shapes, like bears, fruits, flowers, and various flavors, and they offer a fun, flavorful, and convenient way of meeting children's health needs. Further, these days, parents are becoming increasingly conscious of the nature of the vitamin supplements they buy for their kids. Thus, companies are providing organic ingredient-based gummy supplements for children to expand their customer base. For instance, recently, Nature’s Truth expanded its line of vitamin gummies with three products focused on children’s needs. The product range includes children’s multivitamin gummies, vitamin C gummies, and elderberry gummies. The new gummies are vegetarian, non-GMO, and free of gluten, dairy, and artificial flavors. They come in natural flavors, such as Berry Burst and Honey Lemon.

The gummy supplements market is likely to be driven by the North American region, which has been witnessing a significant Y-o-Y growth rate. The increasing demand for vitamin C and vitamin D supplements, as well as products for heart health, stamina, and bone health, is a major factor propelling the growth of the gummy supplements market. Furthermore, products that are specifically aimed at children are driving innovation, particularly those addressing immune and gut health, which are expected to gain more traction over the coming years. The North American market may also witness increased demand for vegan/plant-based products in various fruit flavors, which may further contribute to the development of the market in the region.

The gummy supplements market is fragmented and competitive in nature, with the strong presence of major players who deal in the pharmaceutical industry, along with domestic players catering to the confectionery segment. The market is expected to witness innovation in terms of format, serving per size, and flavor, to cater to the growing set of adult consumers. Some of the key players in the gummy supplements market include Nestle SA, Bayer AG, Pfizer Inc., Church & Dwight Inc., The Honest Company Inc., Pharmavite LLC, GlaxoSmithKline (GSK), Bayer AG, Church & Dwight Co. Inc., and Unilever PLC (OLLY).

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