Gummy Vitamin Market - Growth, Trends and Forecas(2022 - 2027)

Gummy Vitamin Market - Growth, Trends and Forecas(2022 - 2027)

Global gummy vitamin market is projected to grow at a CAGR of 8.52% during the forecast period (2021-2026).

Key Highlights

• The gummy chewable vitamins are widely establishing their presence in the global market owing to their resemblance to gummy candies. Accordingly, from being the niche market segment, the gummy vitamin market has reached to become a mainstream market.
• Other than its nutritional value, the manufacturers supplementing their product range with wide variety of flavors, colors, and shapes of these gummy vitamins are further enticing the consumers regardless of age. Thereby, denoting product innovation as the major factor contributing to growth of the market.
• Additionally, the manufacturers introducing products for specific consumer groups such as diabetic consumer, vegans, children, adults, and others has also played a major role in boosting the market studied. As a result, the market is witnessing introduction of sugar-free, organic, plant-based, halal and other types of gummy vitamins.
• As an impact of COVID-19, the demand for immunity boosting supplements witnessed a major upsurge. Among all, the demand for vitamin D gummies also known as ‘sunshine vitamin’ skyrocketed for its role in building the immunity system.

Key Market TrendsThe Demand for Gummy Vitamins is Primarily Witnessed Among Kids

The introduction of gummy vitamins was primarily done to entice the children with its texture and flavor resemblance to chewable gummy candies, as a result, it observed a huge demand from the kids. Moreover, the parents also accepted the gummy vitamins for their children owing to its high vitamin content which are highly required for the growing kids. Consequently, it led to the launch of numerous gummy vitamins especially for kids during the studied period which ultimately contributed to the growth of the market studied. For instance, in March 2016, Nordic Naturals introduced new vitamin D3 gummies for kids in watermelon flavor that provides 400 I.U. of vitamin D3, 100% of the daily value of natural vitamin D3 (cholecalciferol) for children four years and older. Hence, the product supports immune and nervous system health, mineral absorption, healthy bones, and muscle function. Moreover, multivitamins combined with probiotics are the most preferred gummies for children for it caters almost all the good nutrients in a bite-sized gummy that are required by the kids. Thus, the products such as Olly kids multi-vitamin and probiotic gummy supplements are significantly driving the market studied.

North America is the Largest Market

The North America market is the leading market for gummy vitamins owing to the presence of larger consumer base that are increasingly paying attention to their individual health. Thus, they are increasing the consumption of vitamin supplements including gummies to maintain their daily requirement of vitamins. Moreover, as the healthcare expenditure pattern in the country is rising regularly, it further insist the consumers to pay attention to thier daily nutrient requirement and consume supplements that cost them comparetively minimal to the healthcare expenditure in the region. Accordingly, with the rise in demand for vitamin gummies, it led to the entrance of numerous international as well as local players in the North America gummy vitamins market. Some of the prominent companies which are manufacturing and distributing gummy vitamins in United States are Amway, Church & Dwight Co. Inc. and Reckitt Benckiser Group plc. In order to sustain their customers and attract new customers, these companies are tending towards product development. For instance, in March 2020, the vitafusion by Church & Dwight Co. Inc introduced six innovative products including Irresistible Skin, Organic Prenatal Multi, Triple Immune Power, Apple Cider Vinegar, Kids Melatonin and Teen Essential Multi with an aim to address the unmet nutritional needs in the gummy vitamin category.

Competitive Landscape

The global gummy vitamin market is dominated by both regional as well as the global players, nonetheless, the global players hold an upper hand over the market studied. The key players, including Church & Dwight Co. Inc., Reckitt Benckiser Group plc, Nature’s Bounty, Inc., Pharmavite ® LLC, Amway Corp. and Bioschwartz LLC dominated the global gummy vitamin market. Moreover, the other companies are expanding their market share or product lines in the other countries, thus, satisfying the consumer demand. Therefore, companies are increasingly undertaking both product innovation and expansion as the most preferred strategies to expand their business further.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Church & Dwight Co. Inc.
Reckitt Benckiser Group plc
Nature's Bounty, Inc.
Doctors Best
Pharmavite LLC
PharmaCare Laboratories Pty Limited
Amway Corp.
BIOSCHWARTZ LLC

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