Global Gummy Vitamins Market: Snapshot
Gummy vitamins have not just gained popularity among children, at whom the product was pitched initially as an attractive alternative to bitter pills, but also among adults who are health conscious and want to better their life expectancy. As a result, their market has been seeing steady progress. In order to grow their market shares, most players are investing in product development. This has resulted in an array of gummy vitamins having different colors, shapes, and sizes. This has also had a major positive impact on the market.
Currently, among the various companies operating in the gummy vitamins market, Bayer AG holds a dominant share because of its diverse product portfolio, growing spends on product development, and solid geographic outreach.
A report by Transparency Market Research expects the global market for gummy vitamins to rise at a steady CAGR of 5.2% during the period between 2017 and 2025. Expanding at this rate, the market will likely become worth US$4.17 bn by 2025 from US$2.68 bn in 2016.
Development of New Formulations Makes Multivitamins Most Sought After
The two main types of gummy vitamins purveyed in market are single vitamin and multivitamins. The single vitamins can be further categorized into biotin, vitamin C, omega & DHA, CoQ10, vitamin D, melatonin, high-fiber formulas, etc. Of them, the multivitamins account for a major market share because of the popularity of multivitamins supplements and development of new formulations in taste and shape of gummy vitamins. In the years ahead, the multivitamins segment is expected to be propped by a comprehensive supply chain and distribution management of nutritional supplement manufacturers, superior production facilities of companies across the globe, and innovative product offerings. The single vitamins segment too is projected to grow at a healthy clip due to demand for Vitamin D supplements among all age groups and rising usage of omega-3 DHA among pregnant women.
Presence of Health Conscious Adults Catapults North America Market to Fore
From a geographical standpoint, North America leads the global gummy vitamins market with maximum share. High uptake of dietary supplement among health-conscious adults and the elderly, who want to up their daily nutrient intake, has served to majorly boost the market in the region. Other factors stoking growth in the market are thrust on product development by keen players and high disposable incomes of people. By registering a CAGR of 5.0% in the forecast period, the market in the region is projected to clock a revenue of US$1.64 bn by 2025.
Europe trails North America in the gummy vitamins market vis-à-vis size. Alongside rising demand for the product, innovations in the gummy vitamins formulations are also stoking growth in the market in the region. One factor acting as a roadblock to the growth in the market is the strict regulations pertaining to gummy vitamins supplements in Europe. The market is expected to pull in revenues to the tune of US$741 bn by 2025.
In terms of growth rate, Asia Pacific is anticipated to steal the show by clocking maximum CAGR of 3.8% from 2017 to 2025 on the back of robust demand for vitamin and dietary supplements from developing countries in the region.
Some of the prominent players in the global gummy vitamins market are ABH Labs, LLC, Boli Naturals LLC, Vitakem Nutraceutical Inc., Ferrara Candy Company, Gimbal Brothers, Inc., Melrob Group, Makers Nutrition, LLC, Nutra Solutions USA, Contract NUTRA, Ernest Jackson, Bayer AG, and Sirio Pharma.
Global Gummy Vitamins Market: Overview
The report on the gummy vitamins market analyzes the current and future scenario of the global market. Growing emphasis on preventive care among customers, advantages of gummy form of vitamins over regular pills and rising demand of gummy vitamins among adults and baby boomers are the major drivers of the global gummy vitamins market.
The gummy vitamins market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global gummy vitamins market with respect to the segments based on product type, age group and geography.
A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. In addition, the section comprises porter’s five forces analysis and value chain analysis to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global gummy vitamins market.
Global Gummy Vitamins Market: Segmentation
Based on product type, the gummy vitamins market is segmented as single vitamins and multivitamins. The single gummy vitamins products segments is further segmented into biotin, omega & DHA, vitamin C, CoQ10, vitamin D, melatonin, high-fiber formulas, and others. The product market segments have been analyzed based on available products in markets, product pipeline for new gummy vitamins products, demand for single and multivitamin products, cost-effectiveness, and preference for gummy vitamins product among different age group. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.
Based on age group, gummy vitamins market is segmented into children and adults. The market segments have been extensively analyzed based on availability of different gummy vitamins products for children and adults, demand for these products among children and adults and geographical coverage. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2015 to 2025. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2016 as the base year.
Geographically, the global gummy vitamins market has been categorized into five major regions and the key countries in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, Russia, France, Spain, Italy, and Rest of Europe), Asia Pacific (Japan, India, China, Australia & New Zealand and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, UAE and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year. The research study also covers the competitive scenario in these regions.
Global Gummy Vitamins Market: Competitive Landscape
The report also profiles major players (CMOs and key players) in the global gummy vitamins market based on various attributes such as company overview, financial overview, product portfolio, business strategies, manufacturing capacity and recent developments. Major players profiled in this report includes CMOs such as ABH Labs, LLC, Boli Naturals LLC, Vitakem Nutraceutical Inc., Ferrara Candy Company, Gimbal Brothers, Inc., Melrob Group, Makers Nutrition, LLC, Santa Cruz Nutritionals, Nutra Solutions USA, Contract NUTRA, Ernest Jackson, F. Hunziker + Co AG, Softigel By PROCAPS, Sirio Pharma and major manufacturer players such as BAYER AG, The Honest Company, Inc., SmartyPants Vitamins, Church & Dwight Co. Inc., Hero Nutritionals, Herbaland Naturals Inc., Life Science Nutritionals, Zanon Vitamec, Boscogen, Inc., Nature's Products, Inc., MDC Pharmaceutical Pvt. Ltd., Wellnext Health and others.
The global gummy vitamins market is segmented as given below:
Global Gummy Vitamins Market, by Product
- Single Vitamin
- Omega & DHA
- Vitamin C
- Vitamin D
- High-fiber Formulas
Global Gummy Vitamins Market, by Age Group
Global Gummy vitamins Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa