June 23, 2024
Gummy Supplements Market

The global Gummy Supplements Market is estimated to Propelled by rising health concerns among millennials

Gummy supplements have gained immense popularity as an alternative to traditional supplements in the form of pills or capsules due to their soft and chewable texture along with an enjoyable taste. Gummy supplements provide key vitamins and minerals in a convenient format and are particularly popular among children and millennials who are always on the go and have busy lifestyles. The global gummy supplement market is driven by the rising awareness about the health benefits of nutritional supplements and growing health consciousness among millennials.

The global Gummy Supplements Market is estimated to be valued at US$ 4093.89 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising prevalence of chronic health conditions and busy work schedules have left little time for maintaining a healthy diet, leading to growing health concerns among millennials. This has propelled the demand for easy-to-consume gummy supplements. Moreover, hectic lifestyles and increased health awareness have prompted consumers to opt for supplements that can be consumed anywhere, anytime without water. This rising trend has significantly boosted the gummy supplements market over the forecast period.

SWOT Analysis
Strength: Gummy supplements provide an easy and convenient way for consumption of supplements. Their small and chewable format makes it easy to take supplements without water.

Weakness: Gummy supplements have relatively high sugar content which can be a concern for health-conscious consumers. Additionally, they lack precise dosage control compared to pill or tablet supplements.

Opportunity: Growing health awareness and rising preference for tasty and chewable formats of supplements present growth opportunities for gummy supplements. Additionally, product innovation in developing low-sugar gummy supplements can attract more consumers.

Threats: Stringent regulations associated with food supplements and growing popularity of alternative delivery formats like strips, melting tablets pose threats for gummy supplements market. Rising health issues like obesity and diabetes due to high sugar intake can also negatively impact the market.

Key Takeaways
The Global Gummy Supplements Market Size is expected to witness high growth over the forecast period owing to growing health awareness and preference for chewable supplement formats. The global Gummy Supplements Market is estimated to be valued at US$ 4093.89 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.

Regional analysis comprises North America is the largest market for gummy supplements currently due to high consumer awareness about health and nutritional supplements. Europe is another major market owing to increasing preference for chewable supplement formats. Asia Pacific is expected to showcase high growth owing to growing expenditure on healthcare and supplements in major countries like China and India. Furthermore, presence of large patient pool for conditions like obesity and lack of nutrition based diseases will drive the adoption of nutritional supplements in the region during forecast period.

Key players operating in the gummy supplements market are Diebold Nixdorf, Inc., DXC Technology, ECR Software Corporation, Fujitsu, ITAB Group, NCR Corporation, Pan-Oston Corporation, ShelfX Inc., Slabb Inc., and Toshiba Global Commerce Solutions. These companies are focused on product innovation and expansion in high growth regions to strengthen their market position. For instance, significant investments are being made by players in developing low-sugar varieties to tap into health-conscious consumer base.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it