Recent Fact.MR data posits that the global gummy vitamins market is forecast to account for an absolute dollar opportunity of over US$ 2.5 Bn between 2021 and 2031, reaching US$ 3.71 Bn and expanding at a CAGR of 5.9%. It is anticipated that propensity towards fortified gummies will boost sales for gummy vitamins market throughout the forecast period.
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Historically, sales of gummy vitamins expanded at a CAGR of 4% to reach US$ 3.5 Bn from 2016 to 2020. High demand for gummy vitamins is a lucrative opportunity for supplement manufacturers in developed economies. The majority of top players in the gummy vitamin industry are based in the United States, although their growth is being observed in the international market.
Even though companies are focused on establishing a foothold in domestic markets, the trend of regional expansion in high potential regions such as APEJ and MEA is expected in the foreseeable future.
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Key Takeaways from the Market Study
- North America accounts for more than 25% of the total gummy vitamins market.
- Asia presents the highest potential for growth, projected at 2.0X over its current market value.
- Multivitamins hold a prominent share within the gummy vitamins market with a share of over 50%.
- Gummy vitamins targeted at children anticipated to witness a growth of 1.5x during the forecast period.
- Germany to expand at a CAGR of 6% across the 2021-2031 assessment period
- Online retail for gummy vitamins is expected to garner an absolute dollar opportunity of over US$ 400 Mn.
“Increasing global consciousness about preventive healthcare, digital platforms and social networking sites are becoming a prominent tool for gummy vitamin producers to advertise their products” says the Fact.MR analyst.
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Currently, the gummy vitamins market is fragmented consisting of several food giants including Church & Dwight, Pfizer, and Ferrara acquiring more than 25% market share with multiple emerging players. Key competitors within the gummy vitamin market are focused on improving their product range and retail presence online.
Some of the key players in the gummy vitamins market include Nestle SA, Bayer AG, Pfizer Inc., Church & Dwight Inc., The Honest Company Inc., Pharmavite LLC, GlaxoSmithKline (GSK), Bayer AG, Church & Dwight Co. Inc., and Unilever PLC (OLLY), among others.
Key Segments Covered
- Product Type
- Single Vitamin Gummy
- Multivitamin Gummy
- Probiotic Vitamin Gummy
- Source Type
- Animal Based Gummy Vitamin
- Plant Based Gummy Vitamin
- Customer Orientation
- Gummy Vitamins for Children
- Gummy Vitamins for Men
- Gummy Vitamins for Women
- Packaging Type
- Gummy Vitamins in Bottles & Jars
- Gummy Vitamins in Stand-Up Pouches
- Gummy Vitamins in Other Packaging Types
- Sales Channel
- Gummy Vitamins Sales via Direct Sales
- Gummy Vitamins Sales via Modern Trade
- Gummy Vitamins Sales via Convenience Stores
- Gummy Vitamins Sales via Departmental Stores
- Gummy Vitamins Sales via Specialty Stores
- Gummy Vitamins Sales via Drug Stores / Pharmacies
- Gummy Vitamins Sales via Online Retailers
- Gummy Vitamins Sales via Other Sales Channel
Key Country-wise Inclusions
- US Gummy Vitamins Market
• Canada Gummy Vitamins Market Sale
• Germany Gummy Vitamins Market Production
• UK Gummy Vitamins Market Industry
• France Gummy Vitamins Market
• Spain Gummy Vitamins Market Supply-Demand
• Italy Gummy Vitamins Market Outlook
• Russia & CIS Market Analysis
• China Gummy Vitamins Market Intelligence
• India Gummy Vitamins Market Demand Assessment
• Japan Gummy Vitamins Market Supply Assessment
• ASEAN Gummy Vitamins Market Scenario
• Brazil Gummy Vitamins Market Sales Analysis
• Mexico Gummy Vitamins Market Sales Intelligence
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