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The Global Vitamins Gummies Market Size is valued at USD 7.54 billion in 2023 and is predicted to reach USD 18.76 billion by 2031 at 12.28% CAGR during the forecast period 2024-2031
Key Industry Insights & Findings from the Report:
- Product innovation is the key driver for market growth, and the increasing awareness of health and the expanding working population are anticipated to boost the sales of gummy vitamins.
- Growing Consumer Preference for Convenient Health Supplements drives the market.
- The Single Vitamins segment is estimated to grow with the fastest CAGR in the market.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
Gummy vitamins are chewable supplements that resemble gummy sweets and come in various sizes, tastes, and colors. They are made using gelatin, sugar, water, cornstarch, and additional colorings. Gummy vitamins come in diverse tastes, including raspberry, lemon, orange, and cheerful. The use of vitamin supplements is widely accepted worldwide. They enhance health and help make up for a bad diet. Gummy vitamins are also quite popular with folks who have trouble swallowing pills because they are simple to chew.
The gummy vitamin is a well-liked dietary supplement. The aging population expansion and increase in consumer awareness in both emerging and developed countries are the key drivers of customer choice for goods containing nutritional elements, including vitamins, expected to prevent or treat specific current ailments.
However, it is anticipated that ethical and safety issues around using substances in supplements will impede market expansion.
Competitive Landscape:
Some major key players in the vitamins gummies market are:
- Bayer AG.
- Pfizer Inc.
- Church & Dwight, Inc.
- The Honest Company, Inc.
- Pharmavite LLC.
- SmartyPants Vitamins
- Olly Public Benefit Corporation
- Bettera Wellness
- Hero Nutritionals LLC.
- Ion Labs Inc.
- DuPont Industrial
Market Segmentation:
The vitamin gummies market is segmented into demographics, sales/ distribution channels, and types. Based on demographics, the market is segmented into children and adults. The market is segmented by sales/ distribution channels such as supermarkets/ hypermarkets, online/E-commerce, retail pharmacies, and speciality stores. By type, the market is segmented into single vitamins, multivitamins, and prebiotics.
Based on demographics, the adult segment is a significant contributor to the vitamin gummies market
The adult segment is dominating the market during the forecast period. Older folks are the group most at risk for poor vitamin intake. The elderly require dietary supplements with essential vitamins and prefer gummy vitamins because they have trouble swallowing capsules and tablets. Most adults are from the working class, have busy lifestyles, and have more money. Therefore they prefer a quicker and simpler way to get the necessary vitamins.
The supermarkets/hypermarkets segment witnessed growth at a rapid rate
Supermarkets and hypermarkets are anticipated to hold a sizable position in terms of distribution. People began using gummy vitamins as an immune booster, which caused a boom in demand for them in supermarkets. Because of their eye-catching hues and flavors, these products are displayed in a way that encourages impulse buying.
The North American vitamins gummies market holds a significant regional revenue share
North America is expected to dominate the market during the forecast period. The dietary supplement market has seen tremendous growth in North America over the past ten years thanks to the growth of a health-conscious consumer base, particularly in industrialized nations. Consumers in the region are consuming more supplements, including gummies, to meet their daily vitamin requirements. Additionally, the region with the quickest growth is anticipated to be Asia-Pacific during the projection period. Due to the rapidly expanding middle-income population's considerable purchasing power, the APAC market exhibits significant growth potential.
Recent Developments:
- In March 2023, Goil Nutrition Inc. introduced a probiotic gummy with a 3-in-1 formula that includes prebiotics, probiotics, and postbiotics. This unique combination is designed to promote a balanced gut microbiome and enhance immune health.
- In August 2021, Yummy gums, a vitamin start-up based in the Netherlands, secured a funding of USD 1.26 million from Rabobank. The investment was earmarked for the company's global expansion initiatives and the introduction of new fruity gummy-based vitamin products for consumers.
Vitamins Gummies Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 7.54 billion |
|
Revenue forecast in 2031 |
USD 18.76 billion |
|
Growth rate CAGR |
CAGR of 12.28% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Demographics, Sales/ Distribution Channels, And Types |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
Pfizer Inc., Bayer AG., Church & Dwight, Inc., Pharmavite LLC., SmartyPants Vitamins, Olly Public Benefit Corporation, Bettera Wellness, Hero Nutritionals LLC., Ion Labs, Inc., The Honest Company, Inc. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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