Recent Fact.MR data posits that the global gummy vitamins market is forecast to account for an absolute dollar opportunity of over US$ 2.5 Bn between 2021 and 2031, reaching US$ 3.71 Bn and expanding at a CAGR of 5.9%. It is anticipated that propensity towards fortified gummies will boost sales for gummy vitamins market throughout the forecast period.
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Key Takeaways from the Market Study
- North America accounts for more than 25% of the total gummy vitamins market.
- Asia presents the highest potential for growth, projected at 2.0X over its current market value.
- Multivitamins hold a prominent share within the gummy vitamins market with a share of over 50%.
- Gummy vitamins targeted at children anticipated to witness a growth of 1.5x during the forecast period.
- Germany to expand at a CAGR of 6% across the 2021-2031 assessment period
- Online retail for gummy vitamins is expected to garner an absolute dollar opportunity of over US$ 400 Mn.
“Increasing global consciousness about preventive healthcare, digital platforms and social networking sites are becoming a prominent tool for gummy vitamin producers to advertise their products” says the Fact.MR analyst.
Currently, the gummy vitamins market is fragmented consisting of several food giants including Church & Dwight, Pfizer, and Ferrara acquiring more than 25% market share with multiple emerging players. Key competitors within the gummy vitamin market are focused on improving their product range and retail presence online.
Some of the key players in the gummy vitamins market include Nestle SA, Bayer AG, Pfizer Inc., Church & Dwight Inc., The Honest Company Inc., Pharmavite LLC, GlaxoSmithKline (GSK), Bayer AG, Church & Dwight Co. Inc., and Unilever PLC (OLLY), among others.
Key Segments Covered
- Product Type
- Single Vitamin Gummy
- Multivitamin Gummy
- Probiotic Vitamin Gummy
- Source Type
- Animal Based Gummy Vitamin
- Plant Based Gummy Vitamin
- Customer Orientation
- Gummy Vitamins for Children
- Gummy Vitamins for Men
- Gummy Vitamins for Women
- Packaging Type
- Gummy Vitamins in Bottles & Jars
- Gummy Vitamins in Stand-Up Pouches
- Gummy Vitamins in Other Packaging Types
- Sales Channel
- Gummy Vitamins Sales via Direct Sales
- Gummy Vitamins Sales via Modern Trade
- Gummy Vitamins Sales via Convenience Stores
- Gummy Vitamins Sales via Departmental Stores
- Gummy Vitamins Sales via Specialty Stores
- Gummy Vitamins Sales via Drug Stores / Pharmacies
- Gummy Vitamins Sales via Online Retailers
- Gummy Vitamins Sales via Other Sales Channel