Global Gummy Multivitamins Market, By Source (Plant, Animal), Packaging type (Bottles and Jars, Pouches), Distribution channel (Store-based, Online), End-users (Adult, Children), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
The gummy multivitamins market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market to grow at a CAGR of 12.10% in the forecast period of 2021 to 2028 and is expected to reach USD 555.94 billion by 2028. The growing demand for gummy vitamins in millennials across the globe is escalating the growth of gummy multivitamins market.
Gummy vitamins refer to chewable vitamins which are much like gummy candies. These are found in various colors, shapes and flavors and produced with the assistance of sugar, corn starch, and gelatin, and added colorings. They are utilized as vitamin supplements as they are known to enhance health and are capable of compensating for vitamins lacking in food diet. The most common flavors of gummy vitamins are strawberry, orange, cheery, lemon, and raspberry. These are easily chewable and hence, most preferred by people who have difficulty in swallowing down pills.
Rising growth in aging population and the increasing rate of health-conscious consumers in both developed and developing nations acts as the major factors driving the gummy multivitamins market, also rise in inclination towards food products with healthy ingredients including vitamins in order to prevent or treat certain health issues, rise in number of product launch by manufacturers with the purpose of introducing new products infused with vitamins in the dietary supplements market, rise in popularity of gummy vitamins especially in the millennials globally because of their busy lifestyles, growing geriatric population who face the difficulty in swallowing the pills influences the market and increasing demand for these convenient vitamin-based products owning to the easy chew ability are the major factors among others driving the market growth. Moreover, rising pleasant sugar-based flavor coating on the dietary supplements, unappealing and unpleasant taste of conventional dietary supplements, increased quantity of multi-vitamins, change in consumer preference towards healthy lifestyle, growing disposable income positively affect the gummy vitamins market, rising Synthetic and natural flavor developments in accordance to the requirements of consumers for enhanced flavors and rising vegan population will further create opportunities to the market players in the forecast period of 2021 to 2028.
However, high cost of products and concerns regarding the high sugar content in gummy vitamin products are the major factor among others restraining the market growth, while rising risks and side-effects related to the overconsumption of gummy products and issues regarding the inclusion of vitamin ingredients in gummies during the formulation are projected to challenge the gummy multivitamins market in the forecast period of 2021-2028.
This gummy multivitamins market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on gummy multivitamins market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Gummy Multivitamins Market Scope and Market Size
The gummy multivitamins market is segmented on the basis of source, packaging type, distribution channel and end users. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of source, the gummy multivitamins market is segmented into plant and animal.
- On the basis of packaging type, the gummy multivitamins market is segmented into bottles and jars, and pouches.
- On the basis of distribution channel, the gummy multivitamins market is segmented into store-based and online.
- On the basis of end users, the gummy multivitamins market is segmented into adult and children.
Gummy Multivitamins Market Country Level Analysis
The gummy multivitamins market is analyzed and market size, volume information is provided by country, source, packaging type, distribution channel and end users as referenced above.
The countries covered in the gummy multivitamins market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the gummy multivitamins market because of the large number of dietary supplements consumers, high level of health consciousness and presence of prominent players. Asia-Pacific is expected to witness the significant CAGR during the forecast period of 2021-2028 because of the rise in awareness among the population, increasing investment by key players, high risks of chronic diseases and vitamin deficiencies and economic developments in the region.
The country section of the gummy multivitamins market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Gummy Multivitamins Market Share Analysis
The gummy multivitamins market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to gummy multivitamins market.
The major players covered in the gummy multivitamins market are Life Science Nutritionals., Bettera Brands, Softigel, Nature's Way Products, LLC., Zanonvitamec, OLLY Public Benefit Corporation., Herbaland, Hero Nutritionals, SmartyPants Vitamins, The Nature’s Bounty Co., IM Healthcare, Nutra Solutions USA, Makers Nutrition, LLC., Vitakem Nutraceutical Inc., Church & Dwight Co., Inc., Bayer AG, The Clorox Company., Ernest Jackson, BOSCOGEN, INC. and Santa Cruz Nutritionals. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.