Gummy Vitamins Market Size to Reach USD 2286.7 Million by 2027 at a CAGR of 4.5% | Valuates Reports

BANGALORE, India, Sept. 17, 2021 /PRNewswire/ -- The Gummy Vitamins Market is Segmented by Type (Multi Vitamin, Single Vitamin), by Application (Children, Adult). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Vitamins & Supplements Category.

In 2020, the global Gummy Vitamin market size was USD 1678 Million and it is expected to reach USD 2286.7 Million by the end of 2027, with a CAGR of 4.5% during 2021-2027.

Major factors driving the growth of gummy vitamins are:

• Due to factors such as busier schedules, rising disposable incomes, greater awareness of preventive healthcare measures, and keeping better health, millennials choose to consume these Gummy Vitamins Market.
• The growth in rates of vitamin deficiencies and undernourishment concerns in developing and undeveloped countries are also increasing the gummy vitamins market.
• The convenience factor of Gummy vitamins is further expected to drive the gummy vitamins market. Gummy vitamins are believed to be a great aid for people who find it difficult to swallow pills. When compared to typical vitamin pills, gummy vitamins are far handier. Furthermore, due to their simple swallowability, gummy vitamins have become popular among both children and adults.

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TRENDS INFLUENCING THE GROWTH OF THE GUMMY VITAMINS MARKET

High demand for on-the-go dietary supplement products is expected to drive the growth of the gummy vitamins market. Nutritional foods and food products containing necessary health elements are sought by health-conscious consumers. However, millennials in all areas and countries are encountering heavier work schedules and an increase in the older population with pill-consumption issues. As a result of these considerations, there is a significant need for handy vitamin-based products that can be used on the go and are simple to consume, such as chewing rather than swallowing. As chewable candies, gummy vitamins serve to address these issues and provide consumers with on-the-go consumption as well as simplicity of intake.

For the past several years, the worldwide gummy vitamins market has been gaining a significant pace. This is due to the qualities of gummy vitamins, such as their colors, tastes, and ease of use, as well as the added health advantages they provide. Gummies with a fusion of natural fruit-based flavors are being introduced and launched by companies to meet the global demands of customers for varied flavors. This in turn is expected to create lucrative growth opportunities for the gummy vitamins market players. 

Gummy Vitamins market growth will be aided by an increase in the prevalence of dysphagia, as well as an increase in the prevalence of vitamin deficiency. Furthermore, the use of alternative gelling agents such as pectin presents the lucrative potential for market players.

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GUMMY VITAMINS MARKET SHARE ANALYSIS

Multi-Vitamin is expected to be the most lucrative segment. Increased quantity of multi-vitamins in gummy vitamins encourage consumers to adopt these products rather than opt for other singular vitamin tablets or capsules

Based on application, the children segment is expected to be the most lucrative. 

Based on region, North America is the largest market, with a share of about 65%, followed by Europe and China, both having a share of about 30 percent.

Global Gummy Vitamin key players include Bayer, Church & Dwight Co, Pharmavite, etc. Global top three manufacturers hold a share of about 30%.

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GUMMY VITAMINS MARKET SEGMENTATION

By Type

• Multi Vitamin
• Single Vitamin

By Application

• For Children
• For Adult

Key Companies

• Gummy Vitamins
• Bayer
• Church & Dwight Co
• Pharmavite
• Nature's Way
• Smarty Pants Vitamins
• Hero Nutritionals
• Nature's Bounty, Inc
• Life Science Nutritionals
• Rainbow Light
• Herbaland
• Olly Nutrition.

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By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa

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SIMILAR REPORTS

-  In 2020, the global Jellies and Gummies market size was USD 2533 Million and it is expected to reach USD 3072.2 Million by the end of 2027, with a CAGR of 2.9% during 2021-2027.

-  In 2020, the global Soy Lecithin market size was USD 1112 Million and it is expected to reach USD 1463.3 Million by the end of 2027, with a CAGR of 4.0% during 2021-2027.

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