DUBLIN--(BUSINESS WIRE)--The "Global Gummy Market By Distribution Channel (Offline and Online), By End User (Adults and Kids), By Application (Vitamins, Omega Fatty Acids, Minerals, Proteins and other Applications), By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Gummy Market size is expected to reach $37.1 billion by 2027, rising at a market growth of 12.5% CAGR during 2021-2027
There is an extensive range of flavors available in gummies, which is fueling the demand for gummies around the world and thus, contributing to the growth of the gummy market. Many brands like Amway, Nature Made, and Abbott Laboratories, are providing vitamins-based and mineral-based gummies in different flavors like blueberry, strawberry, and orange, which is attracting more customers who demand nutrition supplements with great taste.
The consumption of these gummies by the millennials has increased owing to the aspects like growing disposal incomes, high awareness related to preventive healthcare measures, busier lifestyles, and maintenance of better health conditions.
Additionally, the growing cases of vitamin deficiencies and undernourishment healthcare conditions in emerging and emerged nations are propelling the demand of gummies market around the world.
The growing dietary supplement sector in the US along with healthy changes in consumers' lifestyles due to rising awareness related to preventive healthcare supplements has resulted in the high consumption of gummies in the country.
COVID-19 Impact Analysis
The global COVID-19 pandemic has disrupted the supply chain, retail distribution and also influenced consumer behavior for many products around the world.
Though, the gummy market has recorded a spike in demand during the pandemic due to the growing awareness among the consumers related to health & wellness products. The imposition of numerous restrictions like the lockdown travel ban, and others have restricted the global supply chain of a wide range of products. The transition of goods was also restricted across regions.
Moreover, the importance of consuming vitamins like vitamin D and vitamin C has increased because they help in boosting the immunity of a person, which is expected to further support the growth of the gummy market.
The growing concerns related to the security of human health and rising awareness among consumers about immunity boosters are some of the driving aspects fueling the demand for dietary supplement products like gummies. In addition, the convenience offered by gummies and the rising pill swallowing issues among consumers are also contributing to the surging growth of the gummy market.
Market Growth Factors:
The increasing demand for dietary supplements
The growing population of health-conscious consumers is resulting in the surging demand for nutritional food products with crucial health elements to help in preventing various diseases and enhance physical & mental health. In addition, growing awareness among consumers in emerging and emerged nations is supporting the growth of the gummy market. There are several benefits offered by gummies infused with vitamins and minerals, which is attracting more consumers towards it. Furthermore, the shifting consumer preferences for a variety of healthy products containing nutrients like vitamins.
The growing geriatric population and the changing lifestyle of consumers
The geriatric population that faces problems with pill consumption is increasing across the globe. This is further bolstering the demand for convenient vitamin-based products, which could be consumed like candies and help in easily swallowing the gummies. In addition, the shifting lifestyle and busy schedule of the millennials in different regions and nations are demanding more products that are infused with more nutrients and can be easily consumed without any extra effort, which is fueling the growth of the gummy market globally.
Market Restraining Factor:
The low availability of raw materials and high cost of products
Natural vitamins are difficult to find and extract and thus, several manufacturers opt for synthetic vitamins, which are relatively cheaper and easily accessible. Even if natural or organic vitamins are witnessing a surge in demand among consumers, their manufacturing costs and investment are high, which is expected to restrict the manufacturers from using these naturally sourced vitamins. In addition, the low availability of natural vitamins adds up to the overall cost of production and ultimately increases the price of the product.
Recent Strategies Deployed in Gummy Market
- May-2021: The Bountiful Company launched Nature's Bounty Apple Cider Vinegar Gummies. These gummies taste like raspberry pomegranate and are made with liquid and unfiltered apple cider vinegar plus vitamin B-12 to support energy metabolism.
- Apr-2021: Bayer launched RestoraFIBRE Daily Gummies. These Gummies consist of inulin that is a soluble fibre and a prebiotic, which aids in encouraging the growth of healthy bacteria in the gut.
- Oct-2020: Nature's Way unveiled a new line of KiDS products spanning numerous requirements. The line involved a supplement for bone and muscle support (Nature's Way Growing Bones & Muscles), a kids multivitamin plus immune support (Nature's Way Happy & Healthy Multi), a supplement for healthy eye function (Nature's Way Healthy Eyes), a supplement for calm mood support (Nature's Way Cool, Calm & Collected), and support for occasional acid indigestion (Nature's Way Tummy Soothe). This latest Nature's Way KiDS line includes four delicious gummies and one chewable tablet to fulfil the hard-to-please palates of children.
- Jul-2020: Nature's Bounty launched its Stress Comfort line of gummy supplements. These supplements provide natural solutions to enhance sleep and peace of mind, along with enhancing mood.
Key Market Players
- Church and Dwight Co., Inc.
- The Clorox Company
- Nestle S.A.
- Bayer AG
- Hero Nutritionals, Inc.
- BOSCOGEN, Inc.
- Lactonova Nutripharm Pvt Ltd.
- NutraStar Manufacturing Ltd.
- Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG)
- Prime Health Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Offline
- Online
By End User
- Adults
- Kids
By Applications
- Vitamins
- Omega Fatty Acids
- Minerals
- Proteins
- other Applications
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/ty2pj6
