Global Gummy Vitamins Market Size 2024, Forecast To 2033
11 Mar, 2024
The gummy vitamins market size has grown rapidly in recent years. It will grow from $7.19 billion in 2023 to $7.92 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to increased undernourished population, increased health consciousness, growth in dietary supplements, and strong economic growth in emerging markets. The gummy vitamins market size is expected to see strong growth in the next few years. It will grow to $11.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to an increase in the geriatric population, increasing vegan population, increasing prevalence of dysphagia, and rising digital media marketing and social media. Major trends in the forecast period include a focus on product innovations, launching flavored gummy vitamins, use of plant-based gummies, launch of 3D printed gummy vitamins, and partnerships and collaborations.
Global Gummy Vitamins Market Key Driver
The expected rise in the vegan population is set to drive the growth of the gummy vitamins market. A vegan lifestyle, characterized by the avoidance of animal products, is gaining traction among individuals seeking plant-based alternatives. The increasing vegan population presents an opportunity for gummy vitamin manufacturers to cater to the preferences of this growing consumer segment. According to data from December 2021 by Redefinemeat, an Israel-based company, there are approximately 79 million vegans globally, constituting over 1% of the total population. In the USA, 2% of the population identifies as vegan, with projections indicating that only 40% of the world's population will consume meat by 2040. This growing vegan population creates a conducive market environment for the gummy vitamins sector, aligning with the preferences of an expanding consumer base. As of 2028, the gummy vitamins market continues to benefit from the sustained growth of the vegan population.
Get A Free Sample Of The Global Gummy Vitamins Market ReportGlobal Gummy Vitamins Market Segments
The gummy vitamins market covered in this report is segmented –
1) By Product Type: Single Vitamin, Multi Vitamin, Probiotics
2) By Source: Plant, Animal
3) By End User: Adult, Children
4) By Sales Channel: Hypermarket, Supermarket, Specialty Stores, Retail Pharmacies, Online Sales Channel, Other Sales Channel
By Geography:The regions covered in the gummy vitamins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the gummy vitamins market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gummy vitamins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Gummy Vitamins Industry Players
Church & Dwight Co Inc, Unilever PLC, Otsuka Pharmaceutical, Reckitt Benckiser Group plc, Sirio Pharma Co., Hero Nutritionals Llc, Herbaland Naturals Inc, Nature's Way Products, Llc, Zanon Lifesciences Private Limited, India Private Label Supplements, Biovencer Healthcare Private Limited, Radius Healthcare Private Limited, Estrellas Life Sciences Private Limited, Nanchang Xinouli Trading Co., Ltd, Jiangsu Handian Biotechnology Co., Ltd, Biocaro Pharmaceutical Co., Ltd, Shantou Sweet Road Industry And Trading Co., Ltd, The Good Vitamin Co, Garden Of Life, Vegums, Amway Corp, Noreva Biotech, Vtf, Solgar, Evalar, Biovea, Terezia, Zarbee's Inc, Olly Public Benefit Corporation, Atrium Innovations, Pfizer, Inc, Now Foods, Healthvit, Ascendis Health, Inova Pharmaceuticals, Vitabiotics Ltd, Glaxosmithkline Plc, Abbott Laboratories, Nestle S.A, Gnc Holdings Inc., Life Science Nutritionals, Bettera Brands Llc, Bayer Ag, Santa Cruz Nutritionals Inc, Makers Nutrition Llc, Nutra Solutions, Ferrara Candy Company
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Gummy Vitamins Market Overview
Gummy vitamins refer to a variety of flavors, colors, and forms of chewable vitamins with a texture and flavor that are comparable to gummy candies. They are among the most widely used kinds of vitamins. Children and adults who dislike taking pills may find these vitamins appealing.
Gummy Vitamins Global Market Report 2023 provides data on the global gummy vitamins market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The gummy vitamins market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.