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Gummy Vitamins Market will Reach Revenues Worth US$ 2.5 Billion by 2031

Gummy Vitamins Market

The gummy vitamins market is expected to develop at a 5.9% CAGR between 2021 and 2031, according to a recent Fact.MR market research analysis. Global demand for gummy vitamins will be valued US$ 3.71 billion by the end of 2021. Furthermore, through 2031, the industry is expected to produce an absolute dollar opportunity of more than US$ 2.5 billion.

Gummy vitamins, which have long been thought of as a source of health supplements for children, are gaining popularity among adults as a tasty alternative to over-the-counter supplements. The Reality. Adults consume more than 60% of gummy vitamins, according to a study conducted by MR. Furthermore, the tendency is projected to continue as the world’s population continues to suffer from ‘pill fatigue.’

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

Competitive Environment
In nature, the global market for gummy vitamins is fiercely competitive. Bayer AG, Church & Dwight, Pfizer Inc., Olly, and Nutranext are the top five companies in the global market, accounting for almost 25% of the market.

Leading market players are concentrating their efforts on producing novel goods and pursuing methods such as acquisitions and mergers to expand their positions in the worldwide market.

Nature’s Truth, for example, has announced the extension of its vitamin gummy line with three items aimed specifically at children’s requirements in 2021. Children’s multivitamin gummies, Vitamin C gummies, and elderberry gummies are among the products available.
After being purchased by Unilever in 2019, the San Francisco-based firm OLLY introduced its gummy vitamin supplements in Singapore in March 2020.

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