A new report by Reports and Data predicts that the global market for Gummy Vitamins is poised to reach USD 19.90 Billion by 2030. The primary driver of this growth is the increasing demand from consumers worldwide for gummy vitamins, which are available in a wide variety of flavors and shapes. The report notes that malnutrition and undernourishment are prevalent in underdeveloped regions, and this is expected to be a key area of market growth in the future. Additionally, rising health awareness, a desire to extend lifespan, and increased use of prenatal vitamins among pregnant women are significant factors that are fueling market demand.
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Top Companies Operating in the Global Gummy Vitamins Market Report:
Bayer, Smarty Pants Vitamins, Ferrara Candy, Hero Nutritonals, Zanon Vitamec, Natures Way, Gimbals, Nature’s Bounty, Softigel, Pharmavite, Olly Nutrition, VITAFUSION, Life Science Nutritionals, Albanese, and Herbaland
Further key findings from the report suggest
- The multivitamin product type will dominate gummy vitamin market with the highest CAGR of 4.8% during the forecast period due to its prevalence and development of new formulations in the shape and taste of vitamin gummies.
- The single vitamin segment will also experience high growth of 4.4 % during the forecast period due to the expanding demand for supplements like Vitamin D among all the age groups and the growing use of Omega 3DHA among pregnant women.
- The demand for the gummy vitamins for vitamin deficiency is anticipated to grow at a CAGR of 5.3% during the forecast period. Growing incidents of malnutrition and undernourished children in the underdeveloped regions will initiate the growth of the gummy supplements.
- The addition of innovative gummy vitamin products manufactured from the organic formulations by the present players will drive the demand for gummy vitamins worldwide
- The rise in the Pharmaceutical segment as personal care-specific gummy vitamins, especially among the female population is significant. The segment is expected for the highest CAGR of 5.2% during the forecast period.
- In an attempt to draw potential possibilities in this market, manufacturers are taking efforts in the development of gummy vitamins that include Vitamin A, C, and E - which are known to improve skin health along with hair growth.
- Gummy vitamins are potentially useful options for people who can't swallow pills well. What makes these vitamins a slightly better choice is not for the reason that they are absorbed better. It is because they tend to contain more amount of nutrients and necessary amounts of nutrients.
- The use of gummy vitamins for adults and children is increasing rapidly in various regions. The popularity is gained more by the children type of consumers.
- Europe is considered to be the second largest market for the gummy vitamins with a share of 33.50% in 2020.
- Alongside rising demand for the product, shifts in the gummy vitamins formulations are also propelling the growth of the market in the region. One major factor for the increase in the demand is the strict regulations of gummy vitamins supplements in Europe.
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For the purpose of helping readers make profitable business decisions, the report is written with industry analysts, market segmentation, and data collection. In addition to providing detailed information on technical and product advances, this report also discusses market value, growth rates, and niche market segments in detail.
An analysis of the Gummy Vitamins market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Gummy Vitamins market, a country-by-country analysis of the market is provided in the report.
The global Gummy Vitamins market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- Single vitamin
- Multivitamin
- Probiotic
Source Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- Animal
- Plant
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- Vitamin Deficiency
- Food Supplement
- Weight Gain
- Immunity & Bone Strength
- Others
Key Questions Addressed in the Report:
· What are the dominating factors that are influencing the growth of the industry?
· In the forecast period, which market segment is expected to rise the most?
· What are the risks and challenges that the industry is facing?
· In the coming years, which area is projected to dominate the market?
· Who are the major players in the market? What kind of strategic business plans have they made?
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