by The global Gummy Supplements Market is estimated to be valued at US$ 4093.89 Mn or Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Gummy supplements are chewable gelatin-based supplements containing essential vitamins and minerals. They provide multi-vitamin support and are easy to consume. Gummy supplements are ideal for children and people who have difficulties swallowing capsules or tablets.
Market key trends:
Growing preference for chewable supplements among children and aged population is supporting the growth of gummy supplements market. Gummy supplements taste better than bitter pills or capsules and are convenient to consume. Manufacturers are focusing on coming up with gummy supplements that resemble popular candy items to further improve consumer loyalty and sales among children. Increasing awareness about importance of vitamins and mineral supplementation through social media platforms is also fueling the demand for gummy supplements globally.
SWOT Analysis
Strength: Gummy supplements has higher absorption rate and improves bioavailability as compared to capsule or tablets. It tastes better than regular supplements and increase patient compliance and adherence.
Weakness: It has lower concentration of active ingredients as compared to tablets due to size limitation. Production of gummy supplements is a complex and expensive process.
Opportunity: Growing health-conscious among consumers and rising preference for chewable and convenient dosage forms. Increasing launch of gummy supplements for various health conditions will provide growth opportunities.
Threats: Presence of several local players offering low cost gummy supplements. Stringent regulations pertaining to usage of colors, flavors and ingredients in gummy supplements.
Key Takeaways
Global Gummy Supplements Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing health consciousness among consumers and rising preference for chewable dosage forms.
Regional analysis: North America region currently dominates the gummy supplements market owing to growing demand for nutritional and dietary gummy supplements. The Asia Pacific region is expected to witness fastest growth rate during the forecast period due to rising living standards, growing health expenditure and increasing awareness.
Key players operating in the gummy supplements market are GlaxoSmithKline (GSK), Bayer AG, Amway Corporation, Church & Dwight Co. Inc., Nestle SA, Hero Nutritionals LLC., Aesthetic Nutrition Pvt. Ltd (Power Gummies), Unilever PLC, and Jagzee Enterprises (Nutrazee). Key players are focused on new product launches, expanding their regional footprint and acquisition & collaboration activities to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
