Description
Gummy Vitamin Market
Product Overview
Vitamin is a micronutrient essential for the proper functioning of the body and boosts metabolism. Gummy vitamin is a popular source of vitamins that provides nourishment and essential content of nutrition to the body similarly to vitamin pills. Their desirable taste, texture, nutrients, and convenience make them the most preferred and liked source of vitamin amongst kids and adults as they taste like gummy candies. Gummy vitamin comprised of corn-starch, gelatin, sugar, water, edible colors and flavors, several vitamins and minerals. Gummy vitamin is segregated into different types such as single-vitamin, multivitamin, and pro-biotic vitamins.
Market Highlights
Global Gummy Vitamin market is expected to project a notable CAGR in 2030.
Global Gummy Vitamin market to surpass USD XXXX million by 2030 from USD XXXX million in 2020 at a CAGR of XX% throughout the forecast period, i.e. 2020-30. Global Gummy Vitamin market is anticipated to grow on the back of its increasing demand due to rising awareness and health concerns among consumers in the pharmaceutical sector as well as personal care and cosmetics sector. Rising instances of vitamin deficiencies, malnutrition, and chronic diseases have fostered growth of the Global gummy vitamins market. They improve health and offset poor diet. Gummy vitamins are easy to chew and eliminate the swallowing of vitamin pills, thus, making them more convenient and attractive to consume.
Recent Highlights in Global Gummy Vitamin Market
In March 2020, Church & Dwight Co. Inc., inaugurated six new gummy vitamin products attributed to skin and immunity disorders along with its subsidiary VitaFusion.
In March 2020, American Startup,16VIT, added a range of gummy vitamin supplements to their product portfolio for modern-day gamers. The company offered different vitamin products for gamers.
Global Gummy Vitamin Market: Segments
Pro-biotic segment to grow with the highest CAGR during 2020-30
Global Gummy Vitamin market is segmented by product type into Single Vitamin Gummy, Multi-vitamin Gummy, Pro-biotic vitamin Gummy. The multi-vitamins segment held the largest market share of XX.X% in the year 2019. Multi vitamins gummy consists of vitamin B3, B12, A, D, E, H, B6 which help in weight control, improve immunity, and better metabolism. Pro-biotic segment is anticipated to grow with the highest CAGR of XX.X% during the forecast period
Children segment to grow with the highest CAGR during 2020-30
Global Gummy Vitamin market is bifurcated by end-users into children and adults. The children segment held the largest market share of XX.X% in the year 2019. Gummy vitamins are chewable vitamins that are easier to consume than swallow vitamin pills, making them popular amongst children.
Vitamin Deficiency segment to grow with the highest CAGR during 2020-30
Global Gummy Vitamin market is also segmented by application into Food Supplements, Immunity, Vitamin Deficiency, Weight Management, and Others. Vitamin Deficiency segment held the largest market share of XX.X% in the year 2019. Gummy vitamins are in high demand among the populace with vitamin deficiencies. Food supplement segment is anticipated to witness considerable growth in the forecast period.
Supermarkets/Hypermarkets segment to grow with the highest CAGR during 2020-30
Global Gummy Vitamin market is also segmented by distribution channel into Specialty Stores, Retail Pharmacies, Supermarkets/Hypermarkets, Online Sales Channel and Others. The segment held the largest market share of XX% in the year 2019. Supermarkets/Hypermarkets provide a large variety of products at the same place which is convenient for the consumers. Online sales channel segment is also anticipated to witness considerable growth in the future due to expanding trend of E-commerce platforms.
Market Dynamics
Global Gummy Vitamins Market
Drivers
Increasing health consciousness among consumers
A large number of populations are suffering from chronic diseases, vitamin deficiencies, week bones, and malnutrition. With the advent of gummy vitamins, it can be cured and improve health and body metabolism. Rising health concerns among consumers are anticipated to drive the Global Gummy Vitamins Market.
Growth in the demand for Gummy vitamins in different sectors
A substantial rise in the demand for Gummy Vitamin is observed in various sectors. Pharmaceutical sector has witnessed a rise in the demand for gummy vitamins since many children with vitamin deficiencies and week bones are advised by doctors to intake gummy due to its convenient intake and concentrated nutritional content. Personal Care and cosmetics sector are also tapping opportunities to incorporate the use of gummy vitamins comprising vitamin A, C, and E in their product since they are known to promote skin health and hair growth. Gummy vitamins are also incorporated by adults as food supplements in their diet.
Restraints
Natural Source of Vitamins
Consumers opting for a natural source of vitamins through a healthy and balanced diet might act as a major restraint for the Global gummy vitamins market. Gummy vitamins comprise additive colors and flavors for better taste which sometimes leads to insecurities related to quality and nutritional content among the consumers.
Global Gummy vitamins Market: Key Players
Bayer AG
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
Pfizer Inc.
Olly Public Benefit Corporation
Ion Labs Inc.
Church & Dwight, Inc., The Honest Company, Inc.,
Pharmavite LLC.
Bettera Wellness
Ion Labs Inc.
Hero Nutritionals LLC
SmartyPants Vitamins
Global Gummy Vitamin Market: Regions
Global Gummy Vitamin market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global gummy vitamins market in North America held the largest market share of XX.X% in the year 2019. Factors such as health problems and deficiencies are anticipated to foster the demand for gummy vitamins in the region and promote the growth of the global gummy vitamins market in North America. Asia-Pacific region is anticipated to grow with the highest CAGR of XX.X% in the forecast period of 2020-30 due to rise in disposable incomes and health concerns among consumers.
Global Gummy Vitamin market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Gummy Vitamin market report also contains analysis on:
Gummy Vitamin Market Segments:
Product Type
Single Vitamin Gummy
Multi-vitamin Gummy
Pro-biotic vitamin Gummy
By End Users
Children
Adults
By Application
Food Supplements
Immunity
Vitamin Deficiency
Weight Management
Others
By Distribution
Specialty Stores
Retail Pharmacies
Supermarkets/Hypermarkets
Online Sales Channel
Others
Gummy Vitamin Market Dynamics
Gummy Vitamin Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
