The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Gummy Vitamins Global Market Report 2024, the gummy vitamins market is expected to show promising growth in the forecast period.

The gummy vitamins market is witnessing robust growth, driven by increasing health consciousness and innovative product developments. In this blog, we will explore the factors contributing to this market’s expansion, future trends, and notable industry developments.

Market Growth Overview

• Recent Growth:
  • The market size grew from $7.19 billion in 2023 to $7.92 billion in 2024, at a CAGR of 10.3%.
  • Factors contributing to this growth include a rise in undernourished populations, increased health consciousness, growth in dietary supplements, and economic growth in emerging markets.
• Future Projections:
  • The market is expected to reach $11.21 billion by 2028, with a CAGR of 9.1%.
  • Growth drivers in the forecast period include an increasing geriatric population, a growing vegan population, a rise in dysphagia prevalence, and enhanced digital and social media marketing.

Rising Vegan Population Drives Growth in the Gummy Vitamins Market

• Vegan Market Opportunity:
  • The growing vegan population is a significant driver of the gummy vitamins market.
  • Vegans avoid animal products, prompting manufacturers to align their products with these consumers’ preferences.
• Market Data:
  • As of December 2021, there were an estimated 79 million vegans globally, with 2% of the U.S. population identifying as vegan.
  • By 2040, it’s projected that only 40% of the world’s population will consume meat, highlighting the potential for plant-based gummy vitamins.

View More On The Gummy Vitamins Market Report 2024 – https://www.thebusinessresearchcompany.com/report/gummy-vitamins-global-market-report

Major Companies in the Gummy Vitamins Market

• Key Players:
  • Leading companies include Church & Dwight Co Inc., Unilever PLC, Otsuka Pharmaceutical, Reckitt Benckiser Group PLC, and Hero Nutritionals LLC.
  • Other notable companies are Nature’s Way Products, Zanon Lifesciences, Amway Corp, GlaxoSmithKline PLC, and Abbott Laboratories.

Innovations and Product Development

• Innovative Gummy Lines:
  • Companies are focusing on developing innovative gummy lines that offer health benefits and appeal to health-conscious consumers.
  • For example, Koios Beverage Corporation introduced Swol Bears, a new gummy line with a unique blend of vitamin D and minimal sugar content.
• Case Study:
  • In May 2023, Koios launched Swol Bears, made with natural ingredients and just 1g of sugar per bag, catering to consumers looking for healthy snacking options.

Strategic Acquisitions

• Expansion Efforts:
  • Jamieson Wellness Inc. acquired Nutrawise Health & Beauty Corporation in July 2022, aiming to expand its U.S. market presence.
  • This acquisition allows Jamieson to increase its customer base in the U.S. vitamins, minerals, and supplements (VMS) market.

Trends Shaping the Future of Gummy Vitamins

• Product Innovations:
  • The market is seeing a focus on product innovations, including flavored gummies, plant-based gummies, and 3D-printed gummy vitamins.
  • Partnerships and collaborations are also driving market growth and product development.
• Technological Advancements:
  • Use of advanced manufacturing techniques like 3D printing for customized gummy vitamins.
  • Incorporation of plant-based ingredients to cater to vegan and health-conscious consumers.

Market Segmentation

• By Product Type:
  • Segments include Single Vitamin, Multi-Vitamin, and Probiotics.
• By Source:
  • Sources include Plant-based and Animal-based gummies.
• By End User:
  • End users are categorized as Adults and Children.
• By Sales Channel:
  • Sales channels include Hypermarkets, Supermarkets, Specialty Stores, Retail Pharmacies, Online Sales Channels, and Others.

Regional Insights

• Current Leaders:
  • North America was the largest region in the gummy vitamins market in 2023, driven by high consumer health awareness and advanced retail infrastructure.
• Fastest Growing:
  • The Asia-Pacific region is expected to be the fastest-growing market during the forecast period, attributed to rising health awareness and economic growth.

Conclusion
The gummy vitamins market is set for significant growth, driven by health consciousness, innovative product developments, and strategic industry acquisitions. As consumers increasingly seek convenient and enjoyable ways to meet their nutritional needs, gummy vitamins will continue to play a crucial role in the global dietary supplements landscape.

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