The global gummy vitamins market is expected to grow significantly during the forecast period owing to the several health benefits offered by these vitamins. Vitamin deficiencies can lead to issues such as bleeding gums, hair loss, dandruff, and restlessness; the intake of vitamin supplements, such as gummy vitamins, help address these concerns. Additionally, the popularity of gummy vitamins is rising owing to increasing consumer preference for the improved taste and convenience as compared to regular multivitamin tablets. The launch of organic gummy vitamins in various flavors offers market players lucrative opportunities for growth.
However, the side effects of overconsumption of gummy vitamins may restrain market growth during the forecast period.
Regional Analysis
Based on region, the global gummy vitamins market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. North America is estimated to retain its dominance during the forecast period of 2018 to 2028. The regional market is estimated to reach USD 3,476.2 million by the end of 2028 registering a growth rate of 9.05% during the forecast period. Expanding product portfolios by key manufacturers is a significant factor for the growth of the market in the region. The market in the US is projected to exhibit a growth rate of 9.02% during the forecast period of 2018 to 2028 to remain the largest country-level market.
The market in Europe accounted for 30.44% of the market share in 2018 and is projected to register a moderate growth rate during the forecast period. This growth can be attributed to the growing consumer interest in healthy and nutritive supplements. In addition, there is a high demand for natural and organic food products, which is boosting the growth of the organic gummy vitamins market in Europe. Germany is expected to be the largest country-level market in the region during the review period.
Segmentation
The global gummy vitamins market has been segmented based on type, end user, and distribution channel.
The global gummy vitamins market has been divided, by type, into single vitamins and multivitamins. The multivitamins segment is expected to account for the larger market share during the forecast period.
The end user segments of the market are children and adults.
Based on distribution channel, the global gummy vitamins market has been classified as store-based and non-store-based.
Key Players
The leading players in the global gummy vitamins market are Bayer AG (Germany), Church & Dwight Co., Inc. (US), Pharmavite LLC (US), Nature's Way Products, LLC (US), Hero Nutritionals, LLC (US), Zanon Vitamec USA Inc. (US), Softigel (US), Rainbow Light Nutritional Systems, Inc. (US), Better Wellness Corp. (US), Herbaland Naturals Inc. (Canada), The Nature's Bounty Co. (US), SmartyPants, Inc. (US), and Olly Public Benefit Corporation (US).
Bayer AG is a well-known developer, manufacturer, and distributor of pharmaceuticals, consumer health products, crop science, and animal health products. It offers gummy vitamins under its consumer health segment. The company also manufactures and markets products in the dermatology, dietary supplement, gastrointestinal, analgesic, cold, allergy, sinus and flu, foot care, and sun protection categories.
Target Audience
• Gummy Vitamins Producers
• Raw Material Suppliers
• Distributors, Retailers, and Wholesalers
• E-Commerce Industry
• Traders, Importers, and Exporters
Key Findings
• The global gummy vitamin market is projected to register a growth rate of 9.10% during the period of 2018 to 2018.
• The multivitamins segment accounted for the larger market share of 69.75% in 2018, with a market value of USD 2,742.3 million; it is expected to register a CAGR of 9.20% during the forecast period.
• The single vitamins segment was valued at USD 1,189.6 million in 2018; it is projected to register a CAGR of 8.88%.
• The North American market is estimated to retain its dominance during the forecast period. The regional market is estimated to reach USD 3,476.2 million by the end of 2028 at a CAGR of 9.05% during the forecast period.
• The European market is estimated to exhibit the highest growth rate of 9.40% during the forecast period of 2018 to 2028.
• Key manufacturers are emphasizing mergers & acquisitions and product launches to enhance sales volumes in the developed and developing countries.
Regional and Country-Level Analysis of the Global Gummy Vitamins Market: Developments and Demand Forecast till 2028
As per analysis, the global gummy vitamins market is estimated to reach USD 9.39 billion by the end of 2028 at a CAGR of 9.1% during the forecast period.
The report also offers a brief country-level analysis for the various regional markets.
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o Spain
o France
o UK
o Italy
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Rest of Asia-Pacific
• South America
o Brazil
o Argentina
o Rest of South America
• Middle East & Africa