Gummy Vitamins Market Size
The Global Gummy Vitamins Market Size reached USD 67.3 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 16.2 billion by 2031. The market is expected to exhibit a CAGR of 10.5% during the forecast period 2024-2031.
Gummy vitamins, a popular category of nutritional supplements, include vitamin gummies and mineral gummies. These chewable supplements offer a convenient and enjoyable way to incorporate essential nutrients into daily routines.
Vitamin gummies provide a range of vitamins, while mineral gummies focus on delivering essential minerals. The gummy format appeals to adults and children, making it a preferred choice for supplement consumption.
The gummy vitamins market has experienced significant growth in recent years, driven by increasing awareness about health and wellness, rising demand for convenient and enjoyable dietary supplements, and the availability of a wide range of products and flavors.
Major players in the market are constantly innovating and expanding their product portfolios to cater to changing consumer preferences.
Market Summary
| Metrics | Details |
| Market CAGR | 10.5% |
| Segments Covered | By Product, By Age Group, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
Growing Demand for Dietary Supplements and Micronutrients Drives the Growth of the Gummy Vitamins Market
According to the gummy vitamins market analysis, the increasing demand for dietary supplements and the growing awareness of the importance of micronutrients for overall health and wellness are critical drivers of the gummy vitamins market. Statistical data highlights that a significant proportion, around 60%, of adults in developed countries regularly incorporate dietary supplements into their routines.
Among the diverse range of supplements available, gummy vitamins have gained traction, representing approximately 25% of the market share. The appeal of gummy vitamins lies in their enjoyable taste and easy consumption, making them a preferred choice for individuals, including children, who may struggle with swallowing pills. Additionally, the bioavailability of nutrients in gummy vitamins further contributes to the growth of the gummy vitamins market share.
The Complexity of the Gummy Manufacturing Process Poses Challenges for the Gummy Vitamins Market
One key restraint of the gummy vitamins market is the complexity of the gummy manufacturing process, which can impact production efficiency and increase costs. The gummy vitamins market analysis indicates that nearly 40% of gummy vitamins manufacturers face challenges maintaining consistent quality and dosage accuracy during manufacturing. Formulating gummies with active ingredients can also be challenging due to their stability and compatibility requirements.
Around 30% of manufacturers struggle with achieving optimal formulation and dosage precision. These restraints highlight the need for advanced manufacturing technologies and stringent quality control measures to overcome these challenges and ensure the production of high-quality, accurately-dosed gummy vitamins in the market.
Market Segment Analysis
The global gummy vitamins market is segmented based on product, age group, and region.
Multivitamins Segment Dominate Global Gummy Vitamins Market
Multivitamin gummies dominate the gummy vitamins market, holding about 70% of the share. They are a popular choice among consumers. The gummy vitamins market analysis indicates that 8 out of 10 individuals who consume gummy vitamins opt for multivitamin gummies, signifying their widespread popularity.
Sales data from leading retailers further solidify their position, with multivitamin gummies outselling single-vitamin options at a ratio of 3 to 1. Over the past three years, multivitamin gummies have shown a remarkable year-on-year % growth rate of 12%, surpassing single-vitamin gummies.
This growth is further supported by the availability of over 200 multivitamin gummy formulations catering to specific age groups, gender, and health needs. These all contribute to substantially expanding the overall gummy vitamins market share. These statistics confirm the strong market presence and consumer preference for multivitamin gummies in the gummy vitamins segment.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
Rising Consumer Demand Propels North America's Gummy Vitamins Market to New Heights
By region, the global gummy vitamins market is segmented into Asia-Pacific, North America, South America, Europe, Middle-east, and Africa.
North America, the largest gummy vitamin market, is witnessing a surge in consumer demand. The gummy vitamins market analysis reveals that approximately 40% of adults and 50% of children in North America regularly consume gummy vitamins as part of their daily supplement routine. The market share is primarily driven by the convenience and enjoyable taste of gummy vitamins, which have gained popularity among consumers.
The increasing awareness of the importance of maintaining overall health and well-being has contributed to the steady growth of the North American gummy vitamins market share. With a significant percentage of the population actively incorporating gummy vitamins into their daily regimen, the market shows promising potential for continued expansion.
Source: DataM Intelligence Analysis (2023)
Gummy Vitamins Companies
The major global players include Church & Dwight Co. Inc, Nature's Bounty Co, Nutramarks Inc, Olly Public Benefit Corporation, Pfizer Inc, Hero Nutritionals LLC, SmartyPants Vitamins, , Zanon Vitamec, and Bettera Brands LLC.
COVID-19 Impact on Market
The COVID-19 pandemic has had a mixed impact on the gummy vitamins market. While there has been increased demand for dietary supplements like gummy vitamins due to heightBayer AGened consumer focus on health and wellness, global supply chain disruptions have led to production and distribution challenges for manufacturers.
The closure of physical retail stores has also led to a shift towards online retail, focusing on e-commerce channels and product innovation to cater to changing consumer preferences.
Key Developments
- On February 14, 2020, Church & Dwight Co. Inc., a consumer goods company, acquired Matrixx Initiatives, a producer of cold and flu remedies based in Bridgewater, New Jersey, USA. The acquisition was valued at D 530 million.
- On May 25, 2021, Hero Nutritionals LLC, a California-based company, launched a new line of plant-based multivitamin gummies. The gummies are vegan, non-GMO, and free of common allergens. The new line includes a variety of flavors and formulations for adults and children.
- On September 16, 2021, Nestle Health Science acquired a majority stake in Vital Proteins based in Chicago, Illinois, USA. Vital Proteins produces collagen-based supplements, including gummy vitamins. This acquisition strengthens Nestle Health Science's position in the fast-growing functional food and supplements market.
Why Purchase the Report?
- To visualize the global gummy vitamins market segmentation based on product, age group, and region and understand vital commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of gummy vitamins level with all segments.
- The PDF report includes a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of critical products of all the major players.
The Global Gummy Vitamins Market Report Would Provide Approximately 53 Tables, 45 Figures and 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
