The global gummy supplements market is projected to reach USD 48.5 billion by 2028, at a CAGR of 14.5% over the forecast period. It is estimated to be valued at USD 24.6 billion in 2023. With the rise in the per capita income of the population, consumers are becoming more health-conscious and are seeking convenient and enjoyable ways to supplement their diets. Asia has a growing middle-class population, which is consequently increasing buying power worldwide. According to OECD, the continent’s share of total middle-class consumer spending worldwide may escalate to 59% by 2030. Thus, the ascending middle-class population coupled with an increase in consumer spending capability is fueling the demand for convenient and tasty ways to supplement their diets, which in turn creates demand for sweet and chewy foods in the region.
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Gummy Supplement Market Growth Drivers:
The growth of the gummy supplement market can be attributed to several key drivers:
1. Convenience and Taste: Gummy supplements are popular due to their easy consumption and pleasant taste, making them more appealing than traditional pill forms, especially for those who struggle with swallowing pills.
2. Health and Wellness Trends: Increased awareness and emphasis on health and wellness have led consumers to seek out supplements as a way to support their overall well-being. Gummies offer a fun and accessible way to incorporate vitamins and nutrients into daily routines.
3. Diversification of Product Offerings: Manufacturers are constantly expanding their gummy supplement lines, catering to various health needs such as multivitamins, immune support, hair and skin health, and more. This diversification attracts a wider consumer base.
4. Targeting Different Demographics: Gummy supplements appeal to different demographics, including children, adults, and the elderly. Targeting specific age groups or health concerns has contributed to the market’s growth.
5. Online Retail and E-commerce: The ease of purchasing gummy supplements online has significantly contributed to market growth. Online platforms offer a wide range of options and convenient delivery methods, making it easier for consumers to access these products.
6. Product Innovation and Quality: Continuous innovation in formulations, such as introducing new ingredients and improving taste and texture, keeps consumers engaged and loyal. Quality assurance and the use of natural ingredients also contribute to market expansion.
7. Increasing Focus on Preventive Healthcare: As people become more proactive about their health, preventive measures like taking supplements have gained popularity. Gummies are seen as a preventive and proactive approach to maintaining health.
Vitamin Gummies was one of the type Which Accounted Highest Market Share in North America
Vitamin gummies are a type of gummy supplement that is becoming increasingly popular. They are a convenient and tasty way to get the vitamins and minerals that your body needs, without having to swallow pills or capsules. Vitamin gummies come in a variety of flavors and shapes, making them fun for adults and children alike.
Vitamin gummies have become increasingly popular in North America, where the gummy supplements market has experienced substantial growth in recent years. This growth has been driven by rising incidences of vitamin deficiencies and undernourishment problems, as well as the increasing demand for vitamin C and D supplements. The need for personalized supplement solutions has also contributed to the growth of the gummy supplements market. While vitamin gummies can be a convenient and tasty addition to one’s diet, they should not be used as a replacement for a healthy, balanced diet. A well-rounded diet that includes a variety of fruits, vegetables, whole grains, and lean proteins is still the best way to ensure that one’s body receives all the necessary nutrients for optimal health.
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US is one of the Major Market for Gummy Supplement in North America
The United States is one of the largest markets for gummy supplements in North America. The popularity of gummy supplements has increased significantly in recent years due to various factors, including the rising incidences of vitamin deficiencies, increasing demand for vitamin C and D supplements, and the need for personalized supplement solutions. Gummy supplements are a convenient and tasty way to supplement vitamin deficiencies and support health and wellness goals. The availability of various types of gummy supplements, such as multivitamin gummies, vitamin C gummies, vitamin D gummies, and probiotic gummies, is driving the growth of the gummy supplements market in the United States. These supplements are popular among individuals of all age groups, including children and adults, due to their delicious taste and ease of consumption.
The key players in this market include GSK PLC. (UK), Church & Dwight CO., INC. (US), H&H Group (Hong Kong), Amway (US), Procaps Group(Luxembourg), The Clorox Company (US), Bayer AG (Germany), Haleon Group of Companies (UK), Catalent, Inc. (US), Nestle (Switzerland), Unilever (UK). in sugar substitutes market include International Flavors & Fragrances Inc. (US), ADM (US), Tate & Lyle (UK), Ingredion (US), and Cargill, Incorporated (US).
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