The gummy vitamins market is expected to continue its steady growth on account of the growing micronutrients deficiency in the global population, coupled with the increasing consumer awareness about the consequential health impacts associated with vitamin deficiencies. The gummy vitamins market will grow at a Y-o-Y of 5.1% by volume in 2018 over 2017, according to a recent analysis by Fact.MR.
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Gummy vitamins, which have long been viewed as a source of health supplements for kids, has been gaining widespread acceptance among the adult demographic as a flavorful alternative to OTC supplements. The Fact.MR study opines that adults account for more than 60% of gummy vitamins consumption. Further, the trend is expected to prevail as the global population continues to suffer from what has been termed as ‘pill fatigue’.
Changing lifestyle and increase in the average age of the global population is causing a substantial rise in the prescription medications being consumed. People with an aversion for large calcium or multivitamin pills also find gummy vitamins as an appealing alternative for their daily dietary supplement needs.
Growing Demand for Probiotic Gummy Vitamins to Offer Lucrative Opportunities
The Fact.MR study reveals that the growing demand for probiotics in the food and beverages industry is also expected to impact the market growth, as gummy vitamins enriched with probiotics are increasingly becoming popular among consumers. The rising prevalence of digestive ailments, and growing resistance of infections to traditional medications have spurred the demand for probiotic-enriched gummy vitamins variants.
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With its immunity boosting properties, probiotics are being associated with promoting the overall well-being of an individual, a reason which has further propelled their usage in the dietary supplements market. While the demand for probiotics is on the rise, the amalgamation of probiotics when manufacturing gummy vitamins poses a daunting challenge.
Key companies have been focusing on addressing the challenge, and have launched probiotic gummy vitamins to capitalize on the trend. Owing to these factors the demand for gummy vitamins has been on a steady rise with the Fact.MR report suggesting a 391 tons rise in the production of the variant in 2019 over 2018.
Asia Pacific Excluding Japan is expected to lead the gummy vitamins marketing growth, undergird by substantial increment in the disposable income of the middle class has aided the market growth in APEJ. Stringent competition among regional gummy vitamins manufacturers continues to serve as a boon to consumers who are witnessing access to cost-effective products.
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The Fact.MR report tracks the gummy vitamins market for the period 2018-2028. According to the report, the alkaline phosphatase kits market is projected to grow at 5.9% CAGR through 2028.
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