Market Overview
Gummy Supplements Market is projected to register a CAGR of 8.40% and reach USD 7,145.8 Million by 2025. Gummy supplements are chewable supplements available in several delectable flavors. They are flavorful gummies enriched with either vitamins, minerals, omega fatty acids, proteins, or blends. Market growth can be attributed to the increasing consumption of gummy supplements among adults and kids. The majority of market players offer their products through store-based distribution channel, which includes supermarket/hypermarket, convenience stores, and specialty stores.
North America held a dominant share of the Gummy Supplements Market Growth 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.
Key Players
The Prominent Players in the Global Gummy Supplements Market include Bayer AG (Germany), Church & Dwight Co., Inc. (US), Pharmavite LLC (US), Nature's Way Products, LLC (US), Hero Nutritionals, 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).
Regional Analysis
Geographically, the global gummy supplements market has been categorized into North America, Asia-Pacific, Europe, and the Rest of the World. As per MRFR analysis, North America accounted for the largest share in 2018. The European gummy supplements market accounted for the second-largest market share in 2018 and is projected to register the highest CAGR of 8.77% during the forecast period.
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.
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By the end-user, the market has been divided into adults and kids. The adult's segment accounted for maximum market share in 2018. The sale of supplements is increasing over the last few years owing to growing awareness regarding healthcare. Supplements come in several forms, such as capsules, tablets, and gummies, of which gummies are preferred due to the taste factor. Among end user, the gummies segment is highly preferred by kids owing to the availability of different flavors.
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