vitamin gummy market
The global vitamin gummy industry was estimated at $5.7 billion in 2018 and is expected to reach $9.3 billion by 2026, at a CAGR of 6.5% from 2019 to 2026. Increasing incidence of dysphagia, rising consumer awareness towards preventive healthcare, and prevalence of cases related to vitamin deficiencies drive the growth of the global vitamin market. On the other hand, gummy vitamins contain a lot of sugar, and it is difficult to stabilize the vitamins in gummy form, which hinders growth to some extent. However, pectin as an alternative to gelatin is expected to bring multiple opportunities to the industry.
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major market players
Aeon Lab Co., Ltd.
Bayer AG.
SmartyPants Vitamin
Hero Nutritional LLC.
Pfizer Japan Inc
Veterana Wellness
The Honest Company Co., Ltd.
Pharmavite LLC.
Orly Public Interest Corporation
New coronavirus infection scenario –
The outbreak of the pandemic has boosted the global vitamin gummy market to some extent due to the increased focus on improving health.
However, the market was hampered due to the halt in production activities and disruptions in the supply chain, which had mixed impacts on the overall market.
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The multivitamin field will become mainstream by 2026 –
By type, the multivitamin segment accounted for nearly two-thirds of the global vitamin gummy market share in 2018 and is expected to maintain its dominance throughout the forecast period. This is due to the fact that the majority of the consumer base has started to prefer fortified products as convenient and healthy supplements. However, the prebiotics sector will show the fastest CAGR of 8.0% by 2026. Increasing consumption of functional foods will drive the growth of this sector.
Adult segment held the largest share in 2018 –
By demographic, adults accounted for nearly two-thirds of the global vitamin gummy market revenue in 2018 and are projected to maintain the largest share from 2019 to 2026. This is because the prevalence of vitamin deficiencies in adults is very high. At the same time, it said the children’s segment will achieve the fastest CAGR of 6.6% by the end of 2026. Industry players are offering gummy supplements to attract children, which is driving growth in this sector.
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North America leads in terms of revenue –
Geographically, North America gained a large share in 2018, contributing to almost half of the global vitamin gummy market. This is because major companies in the region rely on innovative strategies to survive in the competitive market. At the same time, Asia Pacific will exhibit the fastest CAGR of 8.5% throughout the estimated period. This can be attributed to the state’s people becoming more health conscious and preferring a healthier lifestyle. This adds gummy vitamins to your daily consumption.
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