Description

Gummy Vitamins Market Growth Drivers and Restraints:

Increase in the incidence of nutritional deficiency disorders, the rise in awareness about nutritional values among the people, wide range of applications of vitamins, and rise in health concerns in children are anticipated to boost the gummy vitamins market over the forecast period. Moreover, companies’ awareness campaigns regarding children health, increase in consumer demand for gummy vitamins due to ease of administration, are expected to fuel the gummy vitamins market. However, adverse effects associated with over-consumption of vitamins and lack of awareness about gummy vitamins in underdeveloped regions are expected to impede the growth of gummy vitamins market.

 

Market Outline: Gummy Vitamins Market

Vitamins are the organic substances that form vital part of organism’s basic requirements. These are a group of constituents, which help in the proper functioning of cells along with cell growth and development. Vitamins are commonly used in insufficiency in the body. Gummy vitamins are vitamin supplements in a gummy form such as candies. These are more convenient to administer for children and adults. Gummy vitamins are commercially available as multivitamin products and single vitamin products comprise of vitamin C, calcium, fish oil, B-complex, and vitamin B12 among others. Due to the chewiness and flavourings, gummy vitamins are more convenient than pills and other oral solid dosage forms.

 

Gummy Vitamins Market

Gummy Vitamins Market

 

Gummy Vitamins Market Segmentation:

Gummy vitamins market is segmented on the basis of product type, age group, and distribution channel

Based on the product type

  • Single Vitamin Tablets
  • Multi-Vitamin Tablets

Based on the age group

  • Adults
  • Children

Based on the distribution channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Retail Stores

 

Market Summary:

Global gummy vitamins market is growing at a significant CAGR owing to increase in the consumer demand for gummy vitamins due to convenience in the administration. Majority of the market players are actively involved in the innovation of newer gummy vitamins for increasing their market share in market. Moreover, various public and private organizations conducting campaigns regarding nutritional deficiencies, which also boost the market. Furthermore, acquisitions and mergers, collaborations, and product launchings are the strategies adopted by market players. For instance, in September 2015, The GHT Companies launched Vegan Vitamin D3 1000 IU gummy vitamin in 3 flavours. In addition, in January 2015, Perrigo Company plc and Ferrara Candy Company, Inc. inked a supply agreement to manufacture and selling of gummy vitamins across the U.S.

 

Regional Analysis:

Geographically, global gummy vitamins market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America market has a significant growth rate, which is attributed to high awareness regarding nutritional disorders, increase in healthcare expenditure, and collaboration between the companies for production and commercialization of gummy vitamins are anticipated to fuel the market. Europe market driven by a rise in adoption of gummy vitamin products and high awareness about the children and adult health among the population are expected to propel the market. Asia Pacific market is poised to grow due to increasing in demand for dietary supplements and vitamins from developing countries, rise in population in India and China, and expansion of businesses by the market players into the region. Middle East and Africa market are growing due to increase in the prevalence of nutritional disorders in children and rise in preference for gummy vitamins.

 

Competition Assessment:

Some of the players in the global gummy vitamins market include:

  • Ferrara Candy Company (U.S.)
  • Life Science Nutritionals Inc. (Canada)
  • Nutra Solutions USA ((New York, U.S.)
  • Gimbal’s Gummy Vitamins (San Francisco, U.S.)
  • Lonza Group (Switzerland)
  • Vitakem Nutraceutical Inc. (U.S.)
  • Makers Nutrition, LLC. (U.S.)
  • Bayer AG (Germany)
  • Nature’s Bounty, Inc. (U.S.)
  • Church & Dwight Co (U.S.)
  • The GHT Companies (U.S.)
  • Olly public Benefit Corporation (U.S.)
  • Perrigo Company Plc (Ireland)

 

Notable Market Developments:

  • In April 2016, Olly launched children’s gummy vitamin product Wellmune used for the immune support

 

Key Features of the Report:

  • The report provides granular level information about the market size, regional market share, historic market (2015 to 2019) and forecast (2020 to 2026)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market


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