CAGR: 11.9%Current Market Size: USD 17.1 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global gummy vitamins market is expected to grow from USD 17.1 billion in 2022 to USD 42 billion by 2030, at a CAGR of 11.9% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising cases of skull injuries in road accidents and abnormalities arising due to genetic mutations.
Gummy vitamins are chewable nutritional supplements that taste and feel like gummy sweets. They are ingested to meet the nutritional needs of both adults and children and come in a huge range of tastes, sizes, forms, and colours. They are made from maize starch, sugar, gelatin, water, flavours derived from fruit, and other colorings. The consumption of some nutrients, such as calcium, iron, magnesium, and vitamins A, B, C, D, and E, can be increased by taking these vitamins. Bottles, jars, and pouches are typically used to store and distribute them. Gummy vitamins are simpler to swallow, digest, and absorb in the body than the more common tablets, capsules, and pills. In addition to its nutritious significance, the manufacturers of these gummy vitamins are further luring customers of all ages by expanding their product line with a broad variety of flavours, colours, and forms. The introduction of products by producers for particular customer groups, such as diabetics, vegans, kids, adults, and others, has also significantly increased the market under study. The industry is now seeing the launch of gummy vitamins that are sugar-free, organic, plant-based, halal, and other varieties.
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Market Dynamics:
Drivers:
The rising awareness about the benefits of gummy vitamins and the health benefits associated with them is boosting the growth of the market and also creating new opportunities for the growth of the market. The rising consumption of gummy vitamins among consumers is helping the market to know about the consumer’s requirements. Major key players are continuously working on their products to enhance the taste, flavour, colour, and texture of the gummy vitamins in order to make them more demandable and acceptable among consumers.
Restraints:
In comparison to capsules and tablets, it is more complicated and expensive to formulate gummy supplements infused with additional nutrients, colours, and flavours. This leads to increased production costs, resulting in a higher price point for gummy vitamins than conventional vitamin supplements. Moreover, users are hesitant to purchase gummy vitamins due to the lower level of reliability compared to traditional vitamins, as well as other nutritional components contained in them.
Opportunities:
Market growth is expected to be driven by the growth of vegan populations around the world and the prevalence of undernourished populations. It is projected that the vegan population will increase further in the next few years, along with a change in consumers' preferences for consuming plant-based foods is raising the demand for vegan gummy vitamins. Globally, about 9% of the population is undernourished and 720 million to 811 million people suffered from undernourishment in 2020, which will increase global demand for gummy vitamins.
Challenges:
The growth of the gummy vitamins market is impacted by the presence of other vitamin substitutes present in the market. The presence of other low-cost substitutes in the market will attract a huge number of consumers which will lead to low sales in the gummy vitamins market. Additionally, excessive use of gummy vitamins is detrimental to health, and the sugar content in them contributes to tooth decay, cardiovascular disease, and weight gain, limiting the growth of the market for gummy vitamins.
Segmentation Analysis:
The global gummy vitamins market has been segmented based on type, source, end-user, and region.
By Type
The Type segment includes multivitamins and single vitamins. The multivitamin segment led the largest share of the gummy vitamins market with a market share of around 56% in 2022. There are many nutritional components in multivitamins that enhance their usefulness, including calcium, vitamins, magnesium, iron, and potassium. Multivitamins include other nutritional components that enhance their usefulness, such as thiamin, niacin, riboflavin, Vitamin A, Vitamin D2, D3, and others, contributing to the segment's revenue growth. Multivitamins, fulfil the daily requirement of essential nutrients in adults and children.
By Source
The source segment includes plant and animal. The plant segment led the largest share of the gummy vitamins market with a market share of around 60% in 2022. In the manufacture of vitamin-based gummies, plant-based vitamin sources such as mushrooms, algae, cereals, nutritional yeast, leafy vegetables, fruits, sea vegetables, avocados, and others are used. The market is becoming increasingly saturated with plant-based products due to an ever-increasing vegan population and a growing concern for saving dairy products and meat-based products.
By End-User
The end-user segment includes food supplement, weight gain, vitamin deficiency, immunity strength and others. The vitamin deficiency segment led the largest share of the gummy vitamins market with a market share of around 59% in 2022. It has been reported that some people eat food with an adequate diet but cannot absorb healthy nutrients in their bodies due to health issues, resulting in deficiencies in their bodies. The vitamin deficiency segment dominated the gummy vitamin market because different types of gummy vitamins are able to meet the needs of the deficit nutrient, which eventually propels the growth of the market
Global Gummy Vitamins Market- Sales Analysis.
The sale of gummy vitamins expanded at a CAGR of 9% from 2016 to 2022.
One of the main elements fostering a favourable outlook for the market is the significant global growth of the nutraceutical industry. Additionally, the general public's growing health consciousness and knowledge of the advantages of regularly using dietary supplements to maintain a healthy lifestyle are boosting market growth. There is a growing demand for chewable vitamins to avoid chronic diseases and maintain physical and mental wellbeing as cases of nutritional deficiencies and undernourishment among children and adults rise. In accordance with this, the market is expanding due to the growing use of vitamin C supplements to strengthen protection against the coronavirus (COVID-19) infection.
Other growth-promoting factors include a variety of product improvements, such as the production of gummy vitamins in unique flavours like apple, orange, pineapple, strawberry, lime, cola, and cherry that use natural and organic components. Additionally, manufacturers now offer vitamins with individualised nutrient profiles tailored to each customer. The market is expected to rise as a result of additional factors, such as rising consumer spending power and significant research and development (R&D) efforts.
Thus, owing to the aforementioned factors, the global gummy vitamins market is expected to grow at a CAGR of 11.9% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the emesis bags market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the gummy vitamins market and held a 37% share of the market revenue in 2022.
Global Gummy Vitamins Market- Country Analysis:
Germany's gummy vitamins market size was valued at USD 1.30 billion in 2022 and is expected to reach USD 3.2 billion by 2030, at a CAGR of 12% from 2023 to 2030.
There is a high prevalence of type-2 diabetes in the country, so the market has seen steady growth. However, low-calorie or low-sugar gummies are expected to gain popularity in the region, as they can prevent obesity, thereby avoiding diseases such as diabetes, which is expected to boost the country's market growth.
China’s gummy vitamins market size was valued at USD 1.42 billion in 2022 and is expected to reach USD 3.5 billion by 2030, at a CAGR of 12.2% from 2023 to 2030.
Rising startups in the country and increased awareness about the benefits of gummy vitamins are propelling the growth of the market the country. Moreover, consumers are becoming very conscious about their health which also accounts for the market growth.
India's gummy vitamins market size was valued at USD 1.09 billion in 2022 and is expected to reach USD 2.7 billion by 2030, at a CAGR of 12.1% from 2023 to 2030.
In the country, rising consumer purchasing power coupled with the availability of diverse brands is creating a better market scenario for industry growth. Increasing health-conscious consumers, rising malnutrition cases and a rise in the consumption of dietary supplements will boost the market growth of the country.
Key Industry Players Analysis:
To increase their market position in the global gummy vitamins business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
11.9% |
Market Size |
17.1 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Source, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Smarty Pants Vitamins, Pharmavite, Hero Nutritionals, Life Science Nutritionals, LLC, Unilever PLC, Nutra Solutions, Church & Dwight Co. Inc., Zanon Lifesciences Pvt. Ltd., Nature’s Bounty, Herbaland, Bayer AG, Ferrara Candy Company, and Santa Cruz Nutritionals Inc. |
By Type |
|
By Source |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Gummy Vitamins Market by Type:
Global Gummy Vitamins Market by Source:
Global Gummy Vitamins Market by End-User:
Global Gummy Vitamins Market by Region:
Global Gummy Vitamins market is expected to reach USD 42 billion by 2030, at a CAGR of 11.9% from 2023 to 2030.
Rising vegan population and synthetic flavour enhancement in order to fulfill the consumers demand will propel the market's growth.
North American region will witness more gummy vitamins market growth.
Smarty Pants Vitamins, Pharmavite, Hero Nutritionals, Life Science Nutritionals, LLC, Unilever PLC, Nutra Solutions, Church & Dwight Co. Inc., Zanon Lifesciences Pvt. Ltd., Nature’s Bounty, Herbaland, Bayer AG, Ferrara Candy Company, Santa Cruz Nutritionals Inc. among others.
Political Factors- The profitability of the gummy vitamins market will be directly impacted by entering high-tax countries. High taxes impede exports and have an impact on global trade. gummy vitamins market can join calls with low taxes and gain from substantial profits that can be used to fund R&D initiatives. To understand the priorities and interest of the host government in emerging industries, the organisation may also investigate the taxation rules that are relevant to the industry. High trade barriers can further complicate the economic climate by hurting exports and ties with overseas trading partners. Additionally, if the government of the nation under examination does not take seriously its responsibility to safeguard the intellectual property rights of commercial firms.
Economical Factors- The ability of the gummy vitamins market. to pursue its long-term growth objectives will depend on the GDP growth rate. A high GDP also indicates that consumers can spend more money on the goods offered. The availability of surplus labour at relatively lower salaries is indicated by high unemployment. gummy vitamins market's operating in such a market can reduce its production costs. The interest rate and how it affects borrowing capacity and investment mindset should also be carefully taken into account by the company. The high interest rate will promote an investment-friendly mindset and broaden the gummy vitamins market's potential for growth. Finally, the profitability and global trade can both be impacted by exchange rate fluctuations. For the gummy vitamins market, the substantial local currency fluctuation may be a major source of worry.
Social Factor- For worldwide markets like gummy vitamins market, changes in demographic patterns including population ageing, migration trends, and socioeconomic characteristics are of the utmost importance. The proper market segment or segments with significant development potential can be selected by gummy vitamins market with the aid of a study of the demographic parameters. Migration has an impact on business and marketing strategy as well. Understanding the overall attitude of the populace toward migration is crucial for the gummy vitamins market since it can affect businesses' capacity to hire foreign management in the host nation.
Technological Factors- To keep ahead of the competition, the gummy vitamins market. needs carefully analyse the ongoing technological developments. The potential for the 5G to improve business outcomes through improved user experience, better speed, and increased access should be closely monitored. Such technological advancements have the power to fundamentally alter a sector and rewrite the guidelines for market participants' success. Additionally, it's crucial to take into account the technology's state of development and maturity in the relevant industry. gummy vitamins market can grow its market share by concentrating on new technology advances when it enters markets where technological development has not yet matured.
Environmental Factors- The use of green/eco-friendly items is becoming more popular. gummy vitamins market can seize the chance and implement green business strategies to gain the confidence of stakeholders. Priorities for product innovation are changing as a result of regulatory organisations' emphasis on ensuring conformity with environmental standards. Marketing the eco-friendliness of gummy vitamins market's products must take precedence over conventional value propositions. An adverse reaction from the media, environmental protection organisations, customers, and the general public may result from the gummy vitamins market's excessive resource consumption. To learn which resources (such as water, energy, etc.) are regarded as rare or which species are endangered, whose over usage can cause problems for the organisation, gummy vitamins market. must research the country's special environmental legislation.
Legal Factors- Given that some nations have severe laws enforcing labour safety, the gummy vitamins market is required to adhere to employee/labor health and safety requirements. gummy vitamins market has an ethical and moral duty to give its employees a safe working environment. In a similar vein, anti-discrimination laws (such as equal employment opportunity laws) also need to be carefully considered when developing human resource practises as discriminatory lawsuits against employers harm the organisational image and affect organisations' capacity to attract and retain talent.
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