The Global Gummy Market was valued at USD 15.89 Bn in 2020 and is expected to reach USD 32.50 Bn by 2027, with a growing CAGR of 10.8% during the forecast period.
Gummies are chewable vitamins, multivitamins, and probiotics that have gel-like consistency along with flavor, shape, color, size, and taste like gummy candies. These gummies are available in a variety of flavors and offer several health benefits to the end consumers. Originally, these gummies were introduced to increase the customer base in the kids' segment but received wide acceptance from the older age group, which resulted in rising product consumption across the globe. Therefore, various brands, such as Amway, Abbott Laboratories, and Nature Made among others are providing mineral & vitamins infused gummies in several flavors, such as strawberry, orange, and blueberry which is driving the gummy industry growth across the globe.
The gummy market is majorly experiencing traction owing to the increasing prevalence of cardiovascular diseases (CVDs) across the globe. The rapidly changing lifestyle has led to several technological and social changes which have resulted in hectic and unhealthy lifestyles among consumers. This unhealthy lifestyle has in turn resulted in increasing the prevalence of heart problems and cardiovascular diseases (CVDs) worldwide. According to WHO, an estimated 17.9 million people across the globe die every year from CVDs. The alarming rate of CVDs cases along with the desire to live longer has made people health-conscious and driven demand for preventive medicines among them. Gummies such as Omega fatty acid gummies help in decreasing the risk of heart attack and are considered healthy for pregnant women, the geriatric population, and children, therefore, gaining traction. Thereby, increasing awareness regarding preventive healthcare is pegged to garner significant demand in the gummy market over the forecast period.
Moreover, key market players are now more focused in launching innovative products in the gummy industry. These innovative products are expected to meet a myriad range of customer specifications, particularly from home-bound consumers as they are exploring their retail alternatives. For instance, Aesthetic Nutrition Pvt. Ltd., introduced a new product known as power gummies hair vitamins which acts as an alternative to other expensive hair improvement salon treatments. Similarly, Nature's Way®, a company that is specialised in dietary supplements, launched its Nature's Way Sambucus products that include Sleep + Immune Gummies. These gummies consist of zinc & vitamin C that supports the healthy functioning of the immune system, while melatonin helps during occasional sleeplessness. Hence, such innovative products with health benefits are surging the growth in the gummy market across the globe.
The unique insights provided by this report also include the following:
Based on the product type, the multivitamin gummy type accounted for the major share in the gummy market owing to increasing product demand from people who fail to get enough vitamins and minerals from food alone
Based on the product type, the gummy market is segmented as a multivitamin, single vitamin, and probiotics. Among these, the multivitamin gummy type accounted for the major share in the gummy industry across the globe. This high share is owing to increasing product demand from people who fail to get enough vitamins and minerals from food alone due to poor dietary quality. Multivitamin offers a combination of three or more vitamins such as vitamin B12, vitamin C, vitamin B, vitamin D, and vitamin A among others that helps in completing a balanced diet. Therefore, increasing awareness among consumers regarding adequate consumption of minerals and vitamins is expected to augment the gummy market growth. Additionally, multivitamins supplements are also recommended by healthcare workers to patients who suffer from medical conditions such as anaemia, osteoporosis, and many others which is, in turn, driving the demand in the gummy market.
Based on end-user, the children segment has dominated the industry due to the reluctance among children to eat nutritious food, which often results in deficiency disorders
Based on end-user, the gummy industry is fragmented into adults and children. Among these, the children segment has dominated the industry and is expected to show similar trends during the forecast period. This dominant share is due to the reluctance among children to eat nutritious food, which often results in deficiency disorders. Therefore, parents, these days are shifting to easily chewable nutraceutical products such as gummy supplements that are available in attractive different shapes such as fruits, bears, flowers, and various flavors, and offer a fun, flavourful, and convenient way for meeting children's health needs. In addition, parents are becoming super conscious of the nature of vitamin supplements they offer their kids. Thus, companies are increasingly focussing on offering gummy supplements made from organic ingredients for children, which is driving the gummy industry growth.
Based on region, the North America region led the Gummy industry across the globe growing number of health-conscious consumers, especially in developed nations in the region, such as Canada, and the U.S.
Based on region, the gummy market is divided into Asia-Pacific, North America, Latin America, the Middle East and Africa, and Europe. Among these, the North America region led the gummy market across the globe and is anticipated to show a significant growth trend during the forecast period. This share is majorly attributed to the growing number of health-conscious consumers, especially in developed nations in the region, such as Canada, and the U.S. Therefore, the region experiences rising demand for vitamin D, vitamin C supplements, as well as products for stamina, bone health, and heart health which is the major factor boosting the gummy market growth in the region. Additionally, the region also witnesses a high demand for vegan or plant-based products in a variety of fruit flavors, which is further proliferating product demand in the region.
The report also provides an in-depth analysis of the market dynamics such as drivers, restraints opportunities, and challenges
Note: Challenges along with in-depth Gummy market dynamics analysis are mentioned in the report.
The COVID-19 pandemic severely disrupted the retail distribution, consumer behaviour, and supply chain, and availability of raw materials for various products across the globe. This disruption was caused due to the restrictions and lockdown imposed by economies around the world, especially from North America, Asia-Pacific, and European regions which play a vital role in the gummies market. In addition, many stores were shut down or reduced their business hours to combat the spread of the virus. For instance, Walmart announced to modify its store hours in response to the pandemic, while other retailers also planned to temporarily shut their stores. This resulted in reduced product demand across the globe and negatively impacted the gummy industry growth. However, the rising need to consume vitamins such as vitamin C and vitamin D for improving immunity is expected to bring a surge in the gummy industry.
The report also provides an in-depth analysis of key trends in the Gummy market
The report also provides an in-depth analysis of recent news developments and investments in the Gummy market
The key players operating in the gummy industry are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.