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Nov 21, 2023

Gummy Supplement Market Size

According to MarketsandMarkets™, the global gummy supplements market size and

According to MarketsandMarkets™, the global gummy supplements market size and share anticipated to reach USD 48.5 billion by 2028, up from USD 24.6 billion in 2023, at a CAGR of 14.5%.

Chicago, June 02, 2023 (GLOBE NEWSWIRE) -- The global gummy supplement market has witnessed remarkable growth with an estimated projection to reach USD 48.5 billion by 2028, up from USD 24.6 billion in 2023, at a CAGR of 14.5% . This industry is experiencing a significant surge in demand. The convenience and tastefulness of gummy supplements have captured the attention of health-conscious consumers worldwide. Moreover, the alarming prevalence of micronutrient deficiencies, highlighted by the World Health Organization (WHO), has further fueled the adoption of these chewable wonders. In this article, we delve into the fascinating realm of gummy supplements and explore their potential to address the global issue of micronutrient insufficiency.

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Key Industry Development:

The global gummy supplement market is experiencing significant growth, driven by various key industry developments. As consumers increasingly recognize the benefits of gummy supplements, manufacturers and market players are responding with innovative strategies and product offerings.

Report Scope & Segmentation:

Report Metrics

Details

Forecast Period

2023-2028

Forecast Period 2023-2028 CAGR

14.5%

2028 Value Projection

USD 48.5 billion

Segments covered

Type, Starch Ingredient, Distribution Channel, End User, Functionality & Region

Regions covered

North America, Europe, Asia Pacific, and RoW

Key Takeaways:

Micronutrient Insufficiency: Micronutrient deficiencies, such as iron, vitamin A, and iodine, are prevalent worldwide, particularly among youngsters and pregnant women. These deficiencies can lead to evident health issues and reduced energy levels. Gummy supplements provide a convenient and tasty solution to combat these deficiencies.

Convenience and Palatability: Gummy supplements offer a convenient and enjoyable alternative to traditional supplement forms. With their appealing flavors and chewable format, gummies are more accessible, especially for children and individuals who have difficulty swallowing pills.

Precise Dosage and Formulation: Gummy supplements are formulated with precise dosages of essential vitamins, minerals, and micronutrients. Manufacturers invest in research and development to ensure optimal formulations, reducing the risk of under or overdosing.

Versatility and Personalization: The gummy supplement market provides a wide range of options to cater to diverse nutritional needs. Whether targeting a specific vitamin or a combination of nutrients, gummies offer versatility and customization for individuals seeking targeted supplementation.

Industry Developments: The gummy supplement industry is witnessing key developments, including the expansion of product portfolios, emphasis on natural and organic ingredients, collaborations and partnerships, online retail growth, focus on packaging and branding, regulatory compliance, and geographical expansion.

Opportunities for Market Expansion: As the gummy supplement market continues to grow, there are opportunities for manufacturers to expand their presence into new geographical markets. This expansion allows companies to reach untapped consumer segments and contribute to global health initiatives.

Drivers and Opportunities:

Drivers: Increasing incidence of diseases caused by vitamin deficiencies and malnutrition

Micronutrient deficiencies can negatively impact the immune system, hinder infant growth and development, and restrict human potential, leading to higher rates of illness and death. Inadequate levels of iron, vitamin A, zinc, folate, vitamin B12, vitamin D, and iodine can have serious health implications, including heightened susceptibility to infections, birth defects, vision problems, impaired growth, cognitive issues, poor academic performance, decreased productivity, and even mortality. Certain groups, such as adolescent girls, women of reproductive age (15-49 years), pregnant and lactating women, and young infants, are particularly vulnerable due to their increased nutritional needs. Numerous scientific studies have shown that enhancing diets, fortifying staple foods and condiments, biofortification, and supplementation can improve micronutrient intake among the general population or those with higher requirements. This can alleviate the overall burden of maternal and child morbidity, impaired cognitive development, and mortality associated with micronutrient deficiencies.

Gummy supplements, such as vitamin gummies, are designed to be more appealing than traditional vitamin tablets and capsules, making it more likely for consumers to take them regularly. Furthermore, vitamins that are soluble, chewable, sticky, or have a pleasant taste are generally easier to digest. Vitamin C and B2 (riboflavin) are commonly included in multivitamin gummies.

Opportunities: Expanding Market for Gummy Supplements Driven by Aging Population

According to the World Health Organization (WHO), it is estimated that by 2030, one out of six individuals worldwide will be aged 60 or older. The number of people over 60 is projected to reach 1.4 billion by that time, increasing from 1 billion in 2020. Additionally, the WHO predicts that between 2020 and 2050, there will be 426 million more individuals aged 80 or above compared to the present.

While the shift towards an older population initially began in high-income countries (such as Japan, where already 30% of the population is over 60), the most significant change is currently occurring in low- and middle-income countries. It is expected that two-thirds of the global population over 60 will reside in these nations by 2050. Gummy supplements offer a pleasant taste and are easy to swallow and digest, making them an attractive option for older adults. These supplements are enriched with vitamins, minerals, and fibers. As a result, it can be anticipated that the expanding aging population will drive the growth of the gummy supplements market.

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Segments:

Vitamin gummies are expected to dominate the gummy supplements market in 2023, holding the largest share among different types of gummies.

The global market for gummy vitamins is witnessing remarkable growth. Gummy vitamins offer enjoyable fruity flavors along with essential micronutrients, making them a preferred choice for many individuals, particularly children and the elderly who may have difficulty swallowing tablets. In the coming years, the nutraceutical industry is anticipated to experience a significant surge in the sales of vitamin gummies. Working-class consumers, seeking to address health concerns such as bone strength, immunity, and vitamin deficiencies by balancing factors like folic acid, metabolic health, and glycemic index, will also contribute significantly to the expansion of the gummy supplements market.

Among the various end-users, the kids segment is projected to exhibit the highest growth rate in the gummy supplements market in 2023.

Gummy supplements have gained popularity as a convenient way to provide children with the necessary vitamins and minerals without relying solely on a diverse range of foods. They meet the evolving demands of children by offering comprehensive nutrition in a simple and appealing format. Shaped like candies, gummies are easier for kids to swallow compared to tablets or pills. Furthermore, with a significant percentage of preschool children worldwide experiencing deficiencies in vitamin A, anemia, and low zinc intake, gummy supplements can help reduce the prevalence of micronutrient deficiencies, thereby driving market growth.

The North America region is currently witnessing the highest growth rate in the gummy supplements market.

According to a 2022 report from the American Psychological Association, a majority of Americans have experienced heightened levels of stress due to financial difficulties and distressing events like the conflict between Ukraine and Russia. As a result, there is increased interest not only in immunity-boosting gummies post-pandemic but also in gummies that aid mental health and sleep.

Furthermore, the Centers for Disease Control and Prevention (CDC) estimates that over 30% of the United States population is affected by metabolic syndrome. Consequently, more than three-quarters of Americans regularly take vitamin, mineral, or supplement products to support their overall health. Gummies, being a convenient and flavorful form of supplementation with a wide range of functionalities, are experiencing rapid growth in this region.

Some of the Key Players in the Gummy Supplements Industry:

GSK plc (UK)

Church & Dwight Co.,Inc. (US)

H&H Group (Hongkong)

Amway (US)

Procaps Group (Luxembourg)

The Clorox Company (US)

Bayer AG (Germany)

Haleon Group of Companies (UK)

Catalent Inc (US)

Nestle (Switzerland)

Unilever (UK)

and more

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