Market Overview
Global Gummy Supplements Market is growing pervasively over the past few years. The market growth attributes to the increasing numbers consumes inclined towards personal fitness and a healthy diet. Gummy supplements are intended for additional nutrients that may not be provided by regular foods. Therefore, gummy supplements witness huge demand among professional athletes, sportspeople, and fitness freaks. Moreover, rising health concerns among millennials escalate the market growth to furthered height. According to Market Research Future (MRFR), the global gummy supplements market is projected to reach USD 7,145.8 MN by 2025, growing at 8.40% CAGR during the review period (2019-2025). High consumer inclination towards functional foods has increased the demand for fortified gummies. Also, rising health concerns have increased the popularity of fortified gummies among consumers. Consistent positive results demonstrated by these supplements act as a key tailwind for the market growth.
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Additionally, rising launches of products geared to address health concerns surrounding immunity, sleep, health stress, healthy hair, skin and nails, and daily energy boost the market growth. Moreover, factors such as the increase in consumers’ interest in personal fitness and healthy diet, lifestyle changes, and increased per capita health & wellness costs push the growth of the market. Conversely, the availability of counterfeit products inhibits the market growth, replacing good brands off the shelf. Moreover, the side effects of gummy supplements obstruct the market growth. Also, intense competition plays a causal role in restricting the market, prohibiting access to new competitors. It is not easy to enter the market and compete with well-established players whose supplements are preferred the most.
Competitive Analysis
Highly competitive, the gummy supplements market appears fragmented due to the presence of several large and small-scale players. Well-established players incorporate strategic initiatives such as collaboration, acquisition, partnership, expansion, and product/ technology launch to gain a larger competitive share.
Industry players compete against each other based on product innovation, pricing, added health benefits, product differentiation, and category extension.
Major Players
Players leading the Global Gummy Supplements Market include Church & Dwight Co., Inc. (US), Bayer AG (Germany), Pharmavite LLC (US), Hero Nutritionals, LLC (US), Nature’s Way Products, LLC (US), Zanon Vitamec USA Inc. (US), Bettera Wellness Corp. (US), Softigel (US), The Nature’s Bounty Co. (US), and Rainbow Light Nutritional Systems, Inc. (US), among others.
Industry/Innovation/Related News
June 17, 2020 – Mommy’s Bliss, America’s premier wellness company launched a new innovative line of prenatal & postnatal multivitamins and supplements, especially for motherhood. The new product line includes Mommy’s Bliss gummy vitamins with natural flavors, Prenatal Multivitamin + Iron supplements, and Prenatal Multivitamin + Probiotic. The new line would be available exclusively in-store starting this month and online at Amazon.com.
Mommy’s Bliss is a well-known brand for safe and high-quality vitamins and supplements for babies and children. Now the company has entered the prenatal market. These products empower new mothers to address the needs and unique challenges that come along with pregnancy and postpartum care.
Market Segments
The report segmented the report into four dynamics.
By Product Type: Vitamins (Single Vitamin and Multi-Vitamins), Minerals (Omega Fatty Acids, Proteins, Blends, others), and others.
By End User: Adults and Kids.
By Distribution Channel: Store-Based and Non-Store-Based.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World.
Regional Analysis
North America dominates the global gummy supplements market. The region accounted for a 40.55% share of the overall market in 2020. The largest market share attributes to the presence of many key industry players and their product portfolio expansion. Increasing product launches with innovative flavors and added functionalities is a crucial driving force behind the growth of the market. Also, the high per capita expenses for healthcare and wellness are important growth drivers for the market. Innovation in the flavors of gummy supplements is expected to impact the growth of the regional market positively. The US and Canada are the major growth contributors to the regional market. The North American gummy supplements market is projected to retain its dominance over the global market, growing at 8.33% CAGR throughout the forecast period.
Europe stands second in the global gummy supplements market. The availability of mainstream supplements in consumer stores is a primary driving force behind the market growth. Moreover, the resurging economy and the presence of a health-conscious populace in the region foster the growth of the market. Additionally, the growing consumption and demand for gummy supplements in this region boost market growth. The Asia Pacific gummy supplements market is growing rapidly. Promotional activities undertaken by key manufacturers to create strong awareness among consumers and the easy availability of gummy supplements online impact the regional market growth. Besides, the growing demand for natural and organic food products among demographics and increasing health & wellness spending influence the regional market growth. The APAC is expected to be the fastest-growing market for gummy supplements globally.
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