Gummy Vitamins Market Revenue | Growth Overview and Forecast to 2028
Market Overview
Other factors promoting mushrooming of the Gummy Vitamins Market Revenue include the rising inclination towards fortified gummies and an increasing affinity towards functional foods. Proliferating health-consciousness among consumers are impacting the inclination towards food products revolving towards better health and good dietary habits, snowballing the gummy vitamins market. Further, gummy vitamins play a vital role in getting kids to easily consume vitamins since the flavor and shape of these gummy supplements appeal to children and are greatly preferred by parents.
Key Players
Some of the notable Gummy Vitamins Market Revenue vendors include Church & Dwight Co., Inc. (U.S.), Life Science Nutritionals (Canada), Softigel (U.S.), Herbaland Naturals Inc. (Canada), Bettera Wellness Corp. (U.S.), Gimbals Fine Candies (U.S.), Nature's Way Products, LLC (U.S.), Olly Public Benefit Corporation (U.S.), Zanon Vitamec USA Inc. (U.S.), Bayer Group (Germany), Pharmavite LLC (U.S.), Hero Nutritionals, LLC (U.S.), SmartyPants Inc. (U.S.), Rainbow Light Nutritional Systems, Inc. (U.S.), and The Nature's Bounty Co. (U.S.).
Industry Update
April 2019: Vitafusion, a leading gummy vitamin brand, recently introduced vitafusion TM Organic, a new line of USDA certified organic supplements. This line includes Men’s Multi, Women’s Multi, Vitamin D3, as well as Vitamin B12.
Market Segmentation
Global Gummy Vitamins Market Revenue is studied by MRFR for segments based on type, end-user, distribution channel, and region. On the basis of type, the global gummy vitamins market is segmented into single vitamins and multivitamins. The single vitamins segment is expected to exhibit an 8.88% CAGR during the forecast period. Alternatively, the multivitamins segment is estimated to showcase promising growth and reach a market valuation of USD 6,610.8 million by the end of 2028.
On the basis of end-user, the gummy vitamins market is segmented into child and adult. Among these segments, the child segment is accounted for 29.10% of the market share at the beginning of the forecast period. To maintain constant sales of gummy vitamins for children, manufacturers are observed to introduce new, low sugar content-based gummy-vitamins to magnify the health attribute of these gummy vitamins. On the flip side, the adult segment is anticipated to reach a revenue valuation of USD 6,618.5 million by the end of the forecast period.
Based on distribution channel, the global gummy vitamins market is segmented into store-based and non-store-based. The store-based segment is estimated to grow at a significant rate and garner a valuation of 7,684.5 million through the conjectured timeline.
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Detailed Regional Analysis
The global gummy vitamins market is regionally segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. Europe held around 30.44% share of the gummy vitamins market in 2018. The region is also estimated to surge at a substantial rate through the forecast period. This growth can be attributed to the rising inclination towards nutrient-dense foods and beverages. Owing to the availability of gummy vitamins in various flavors and shapes, consumers are more likely to adopt gummy vitamins in their staple diet, which is estimated to drive the market to a great extent in Europe.
On the other hand, Asia Pacific is assessed to exhibit a lucrative CAGR of 9.23% over the review period. Within Asia Pacific, China and India are likely to lead the global gummy vitamins market. This market domination can be accredited to the rising health consciousness levels among consumers and an up scaling prevalence of vitamin deficiencies among both children and adults. The expansion of the gummy vitamins market in the region can also be owed to a proliferating consumption of gummy vitamins by middle-income group coupled with rising disposable income.
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