The global gummy supplements market outlook was valued at USD 9.30 billion in 2023 and is projected to grow from USD 10.50 billion in 2024 to USD 27.57 billion by 2032, with a compound annual growth rate (CAGR) of 12.89% during the forecast period.
Gummy supplements are popular for their rich vitamin and mineral content, offering a tasty and convenient way to fulfill daily nutritional needs. The rising adoption of sports supplements reflects athletes' preference for easy-to-consume, effective nutritional options to enhance performance, further driving market growth.
This information is derived from Fortune Business Insights™ in their research report titled “Gummy Supplements Market, 2024-2032.”
List of Key Players Mentioned in the Report:
- Church & Dwight (U.S.)
- Haleon Plc. (U.K.)
- Nordic Naturals (U.S.)
- Hero Nutritionals (U.S.)
- Nutri Bears (India)
- Jamieson Vitamins (Canada)
- The Clorox Company (U.S.)
- H&H Group (Hong Kong)
- Unilever Plc. (U.K.)
- Nestle Health Science (Switzerland)
Information Source: https://www.fortunebusinessinsights.com/gummy-supplements-market-109478
Segmentation:
Single Vitamin Segment Held the Largest Share Owing to Widespread Micronutrient Deficiencies
The market is segmented by type into multi-vitamins, minerals, probiotics, omega-3 fatty acids, collagen, single vitamins, and others. In 2023, the single vitamin segment captured the largest market share. The high prevalence of deficiencies, especially in vitamins C, D, and B among different age groups, is driving the demand for single vitamin supplements and contributing to the growth of this segment.
Adults Segment Secured the Highest Market Share owing to Convenience and Taste Appeal
The market is categorized by end-user into adults, children, and geriatric populations.
The adult segment holds the largest share of the gummy supplements market. The increasing preference for gummy vitamins and minerals among adults is largely due to their convenient format and pleasant taste, which effectively masks the unpleasantness often associated with pills or capsules. This appeal is particularly strong among middle-aged individuals who frequently experience "pill fatigue."
Supermarkets/Hypermarkets Segment Holds the Apex Position due to Convenience and Accessibility
The gummy supplements market is segmented by distribution channel into supermarkets/hypermarkets, pharmacies/drug stores, specialty stores, online retail, and others. Supermarkets and hypermarkets dominate the market, thanks to their convenient shopping experiences and services like home delivery and bulk purchasing options, which facilitate easy access for consumers to a wide variety of gummies and other products.
Regionally, the market is divided into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report provides both quantitative and qualitative insights, covering aspects such as market sizing, growth rates across various segments, an analysis of the competitive landscape, regulatory considerations, and recent industry trends, including mergers and acquisitions.
Drivers and Restraints:
Strategic Product Promotion and Diverse Functional Offerings to promote Product Demand
Effective promotional campaigns, such as Swisse Wellness' "Function, Fun Gummies" and Power Gummies' "GummyUpShapeUpDressUp," are vital for increasing product awareness and attracting consumers, thereby driving market expansion. Additionally, the presence of brands like Swisse Wellness, which offers gummies with various functional benefits, and Power Gummies, which targets health-conscious consumers, broadens the product range. This diverse selection appeals to a wider audience, further propelling market growth.
However, the high levels of sugar alcohols used to enhance flavor may pose health risks, potentially discouraging consumer uptake and hindering the growth of the gummy supplements market.
Regional Insights:
North AmericaDominate the Market Owing to Strong Presence of Manufacturers
North America is the leading region in the gummy supplements market, capturing approximately 44.48% of the market share in 2023. This dominance is attributed to a robust presence of established manufacturers, a growing adoption of gummy products, and access to a diverse range of gummy supplements.
In the Asia Pacific region, the increasing number of sports enthusiasts and heightened awareness of health-conscious lifestyles, including veganism, are driving demand for convenient options like gummies.
Competitive Landscape:
Key Players are Focusing on Product Innovation to Meet Consumer Demand
Church & Dwight, Haleon Plc, The Clorox Company, and other key players are pivotal in the gummy supplements industry, driving market growth through their varied selection of flavored nutritional products enriched with vitamins and minerals. Their effective sales strategies further bolster market expansion, as these companies respond to consumer demand with innovative product offerings, contributing to the overall upward trend of the gummy supplements market.
Key Industry Development:
April 2023- Nutritional supplements leader TopGum announced the acquisition of PharmltBe, an R&D specialist, aiming to bolster gummy production with advanced techniques in the future.
