Global Gummy Vitamins MarketReport, published by Variant Market Research, forecast that the global market is expected to reach $4.5 Billion by 2025 from $3.0 Billion in 2017, growing at a CAGR of 5.3% from 2017 to 2025. By Geography, Asia-Pacific and North America are expected to grow at a CAGR of 7.4% and 4.9%, respectively, throughout the forecast period.
“Gummy Vitamins Market (By Product: Single and Multi-Vitamin; By Application: Vitamin Deficiency, Weight Gain, Immunity, and Other Applications; By Industry Vertical: Pharmaceutical, Chemical, Food, and Others Industry Verticals.; By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025”
The global gummy vitamins market is mainly driven by rising awareness promotions concerning preventive care
Rising awareness promotions concerning preventive care, surging occurrences of undernourished and malnutrition children in underdeveloped economies, and rising consumer demand for gummy vitamins due to diversity in taste and shape are the major factor driving the growth of the gummy vitamins market. Additionally, arrival of innovative gummy vitamins products based on organic formulations by prominent players have also stimulated the growth of the market. Though, risk related to side effects of over consumption of gummy vitamins is the restraint of the market. Moreover, increasing interest in extending life expectancy from these vitamins, and prenatal vitamin products used by women during pregnancy are expected to present potential growth opportunities over the forecast timeframe.
The major segments considered in the global gummy vitamins market are product type, application, industry vertical, and geography. Product type segment comprises single and multi-vitamin. By application, the segment is classified into vitamin deficiency, weight gain, immunity, and other applications. Furthermore, the industry vertical segment is bifurcated pharmaceutical, chemical, food, and others industry verticals.
The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. UK, Germany, France, Italy, Russia, Spain, and Rest of Europe are analyzed under the European market. India, China, Japan, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.
Multi-Vitamin, by product type segment led the market with major share in 2017
Multi-Vitamin contributed for the majority of the market share in 2017, in the product type segment, and is expected to continue its trend during the forecast period. In terms of growth, owing to the quick acceptance of multi vitamins supplements and also on account of the growth of new formulations of gummy vitamins, having different shape and tastes.
North America accounted for the maximum share in the global gummy vitamins market
In 2017, North America was the highest revenue generating region the global gummy vitamins market share. Also, Asia-Pacific is likely to achieve the fastest CAGR during the forecast period, owing high demand for vitamin and dietary supplements from emerging countries in the region.
Prominent players operating in the market include ABH Pharma Inc., Aktiv Organic, Boli LLC, Vitakem Nutraceutical Inc., Melrob Group, Bayer AG, Ferrara Candy Company, Gimbal's Gummy Vitamins, Nutra Solutions USA, and Makers Nutrition, LLC, among others.