Market Highlights
Gummy Supplements Market is projected to be valued at USD 7,145.8 Million by 2025, registering a CAGR of 8.40% during the forecast period. Gummy supplements are chewable supplements available in several delectable flavors. The growth of the global gummy supplements market is driven by the increase in consumption of gummy supplements among kids and adults along with the rising popularity of fortified gummies. However, the side effects associated with the overconsumption of gummy supplements are hampering the growth of the market. The increasing demand for natural and organic ingredients is expected to offer lucrative opportunities to the market players in the coming years.
North America held a dominant share of the Gummy Supplements Market Size in 2018 owing to the high per capita disposable income of 18–34 years of age in the region. The US followed by Canada are among the lucrative markets for manufacturers in the region. Regular product launches followed by expansion plans of market players have further boosted the sale of gummy supplements in North America. The market in Europe is expected to exhibit the highest CAGR during the review period. Germany is the major gummy supplement market in the region due to the increasing adoption of dietary supplements.
Market Dynamics
The Global Gummy Supplements Market is expected to register significant growth during the forecast period. High prevalence of nutrition deficiencies is attracting adults toward chewable supplements, such as gummy vitamins and gummy protein supplements. Also, the growing popularity of fortified gummies is trending owing to the rising health concerns among consumers. The consumers are highly inclined toward functional foods, which has increased the requirement for fortified gummies in the confectionery segment
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Segmental Analysis
The Global Gummy Supplements Market has been segmented on the basis of product Type, End User, Distribution Channel, and Region.
By product type, the market has been divided into vitamins, minerals, omega fatty acids, proteins, blends, and others. The vitamins segment accounted for the maximum market share in 2018, whereas the blends segment is expected to register the highest CAGR of 9.26% during the forecast period. The cost of the blends gummy supplements is low compared to other types of gummy supplements which can act as a major growth factor.
Key Players
Market Research Future recognizes include Bayer AG (Germany), Church & Dwight Co., Inc. (US), Pharmavite LLC (US), Hero Nutritionals, LLC (US), Nature's Way Products, LLC (US), Zanon Vitamec USA Inc. (US), Softigel (US), Bettera Wellness Corp. (US), The Nature's Bounty Co. (US), and Rainbow Light Nutritional Systems, Inc. (US) as the Key Players in the Global Gummy Supplements Market.
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