Vitamin Gummies Market is Expected to Grow at a Steady CAGR of 6.5% Fueled by Multivitamin Variants Addressing Comprehensive Health Needs | Future Market Insights Inc.
The Vitamin Gummies Market is witnessing demand for multivitamin gummies, which offer essential and comprehensive support for overall health and well-being. These gummies have gained popularity as they address the critical need for a convenient and enjoyable way to consume essential vitamins and minerals. With their appealing taste and convenience, multivitamin gummies are meeting the rising consumer demand for holistic health solutions, driving the expansion of the Vitamin Gummies Market. The report also discusses key players in the industry, their market shares, the competitive landscape, and regional insights.
NEWARK, Del, Aug. 13, 2023 (GLOBE NEWSWIRE) -- According to FMI, the vitamin gummies Market is likely to generate US$ 4050 million by 2023. A CAGR of 6.5% is forecast for the market between 2023 and 2033, indicating a US$ 7352.3 million market. As multivitamin gummy provides critical support for all-around health and well-being demand for these gummies is expected to grow in demand. As convenient and enjoyable forms of vitamin and mineral intake, they contribute to optimal body function by filling nutrient gaps.Gummies such as these are especially valuable for people who follow strict diets, have a difficult time eating, or are busy. As a result, they ensure that the essential nutrients are received, which support vitality and proper body function. Research is being conducted on vitamin gummies in order to increase their demand. Increasing investments are being made in this research, which is increasing the demand for vitamin gummies. The demand for diet alternatives that are healthy and balanced is driven by supplements.
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Gummies have garnered a great deal of attention in the beauty and wellness industry over the last few years with the advent of Covid-19 last year. In addition to providing multiple vitamins, gummies can also help regenerate hair and skin.
*Key Takeaways from the Market Study*
· The global market for vitamin gummies is expected to reach US$ 6903 million by 2032.
· Globally, the United States accounted for 24.7% of the vitamin gummies market share in 2022.
· The market for vitamin gummies is expected to rise by 6.3% CAGR between 2022 and 2032.
· China accounted for an 11.2% CAGR in 2022, indicating continued growth in the market.
· According to projections, the Japanese market accounted for 4% of the global market by 2022.
· In 2022, Germany was responsible for 7.2% of the global market share for vitamin gummies in the market.
· The vitamin gummies market generated a CAGR of 6% between 2018 and 2022.“Vitamin gummies will enjoy sustained demand for years to come due to their innovative flavors and attractive packaging. Natural products and premium pricing are expected to drive vitamin gummies' growth in the market.” says an FMI analyst.
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*Top Players in the Vitamin Gummies Market:*
1. BAYER AG
2. Pharmavite
3. SmartyPants Vitamins
4. Wellnext Health
5. Church & Dwight Co. Inc.
6. Life Science Nutritionals
7. Taura Natural Ingredients Ltd.
8. Viva 5 Corporation
9. Olly Public Benefit Corporation
10. Nowamyl
*Competitive Landscape*
The business of vitamin gummies is growing as many companies form strategic partnerships and collaborate with other businesses. There is a growing trend among vitamin gummies market players to invest heavily in research and development, to develop new products, to expand their geographic presence, as well as to establish partnerships in order to grow their customer base.
· On March 2023, SmartyPants Vitamins announced the launch of its most innovative multivitamin to date—SmartyPants Sugar-Free Multi & Omegas. The Sugar-Free Multi & Omegas from SmartyPants don't contain sugar alcohols like other sugar-free gummies. In addition to having zero grams of sugar and zero grams of net carbohydrates, this new all-in-one supplement is sweetened using monk fruit extract and allulose to avoid digestive upset.
· On April 2023, Centrum launched gummies with specialized nutrition in India. Now in India, the company offers a wide range of enjoyable gummies packaged in a high-science supplement format - 'Benefit Blends'. As Indian consumers live a hectic lifestyle, there are several nutrition gaps that are emerging. According to the company, the new specialized nutrition line is 100 percent vegetarian, gluten-free by nature, and non-habit forming.
*Know More about What the Vitamin Gummies Market Report Covers*
Future Market Insights offers an unbiased analysis of the global vitamin gummies market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the vitamin gummies market, the market is segmented based on product type, customer orientation, source, packaging type, and sales channel industry type across six major regions.
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*Vitamin Gummies Market Segmentation*
By Product Type:
· Single Vitamin Gummy
· Biotin
· Omega & DHA
· Vitamin C
· CoQ10
· Vitamin D
· Melatonin
· High Fibre Formulas
· Multivitamin Gummy
· Probiotic Vitamin Gummy
· Bacillus Coagulans
· Lactobacillus
· Bacillus Subtilis
· Others (Yeast Etc.)
By Customer Orientation:
· Children
· Adult
· Men
· Women
By Source:
· Animal Based
· Plant-Based
By Packaging Type:
· Bottles & Jars
· Stand-Up Pouches
· Other Packaging TypeSales Channel:
· Direct Sales
· Modern Trade
· convenience Store
· Departmental Store
· Specialty Store
· Drug Store/Pharmacies
· Online Retailers
· Other Sales Channels
By Region:
· North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and Pacific
· East Asia
· Middle East and Africa*About Food & Beverage at Future Market Insights*
The food & beverage team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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