According to FMI, vitamin gummies are 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.
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.
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.
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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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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