Unraveling the Global Gummy Vitamins Market Trends

The Business Research Company’s Gummy Vitamins Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

LONDON, GREATER LONDON, UK, January 4, 2024 /EINPresswire.com/ — The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

The global gummy vitamins market has witnessed substantial growth, escalating from $6.47 billion in 2022 to $7.13 billion in 2023, showcasing a commendable compound annual growth rate (CAGR) of 10.2%. Forecasts indicate continued expansion, with the market size expected to reach $10.3 billion in 2027, sustaining a robust CAGR of 9.6%.

Addressing Nutritional Deficiencies: A Pillar for Gummy Vitamin Market Growth
A key driver propelling the gummy vitamins market is the significant contribution from the growing undernourished population. Individuals classified as undernourished do not receive the minimum essential nutrients required for proper growth and development. Gummy vitamins have emerged as a popular nutritional source to meet the demands for essential nutrients, providing health benefits to those lacking proper nutrition. In 2020, the global prevalence of undernourishment reached approximately 9.9%, encompassing 768 million people—an 8.4% increase from 2019. As the undernourished population continues to rise, the gummy vitamins market is poised for sustained growth, meeting the nutritional needs of a broader demographic.

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Key Market Players Steering Innovation: A Landscape of Growth
Major players at the forefront of the gummy vitamins market include Church & Dwight Co. Inc., Life Science Nutritionals, Bettera Brands LLC, Nature’s Way Products LLC, Unilever PLC, Herbaland, Hero Nutritionals LLC, Bayer AG, Santa Cruz Nutritionals Inc., Nature’s Bounty, Softigel, Makers Nutrition LLC, Nutra Solutions, Ferrara Candy Company, and Zanon Lifesciences Pvt. Ltd. These industry leaders are driving market dynamics, focusing on product innovations to cater to evolving consumer demands and solidify their market positions. For instance, Vitamin Angels, a UK-based start-up, unveiled 3D-printed, high-impact, personalized gummy vitamins for kids in June 2021. This innovation, consisting of 28 vegan gummies, addresses gluten-free, sugar-free, and artificial flavor-free preferences, emphasizing a monthly subscription model.

Riding the Wave of Innovation: Product Innovations as a Dominant Trend
A prominent trend in the gummy vitamins market is product innovation, with major companies striving to meet consumer expectations through novel offerings. The emphasis on innovation extends to addressing dietary preferences, ensuring efficacy, and enhancing the overall consumer experience. This trend is exemplified by the introduction of 3D-printed, personalized gummy vitamins by Vitamin Angels, aligning with a subscription-based model for convenient monthly deliveries.

Regional Dynamics: North America Leading, Asia-Pacific Paving the Way
In 2022, North America claimed the lion’s share of the gummy vitamins market, establishing itself as a key region for market adoption. Meanwhile, Asia-Pacific is anticipated to emerge as the fastest-growing region in the forecast period, showcasing the global reach of gummy vitamins. The comprehensive market analysis spans regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Segmentation Insights: Tailoring Solutions for Varied Preferences
The gummy vitamins market is segmented based on crucial parameters:
•Product Type: Single Vitamin, Multi Vitamin, Probiotics
•Source: Plant, Animal
•End-User: Adult, Children
•Sales Channel: Hypermarket And Supermarket, Specialty Stores, Retail Pharmacies, Online Sales Channel, Other Sales Channels

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Gummy Vitamins Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Gummy Vitamins Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on gummy vitamins market size, gummy vitamins market drivers and trends, gummy vitamins market major players, competitors’ revenues, gummy vitamins market positioning, and gummy vitamins market growth across geographies. The gummy vitamins market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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