Gummy Vitamins Market generated $5.7 billion in 2018, and is expected to generate $9.3 billion by 2026, registering a CAGR of 6.5% from 2019 to 2026. The report offers a detailed analysis of changing market dynamics, market size& trends, market estimations, key investment pockets, top segments, and business performance of key players.
With rapidly increasing awareness about wellness and personal health, people across the globe are now incorporating vitamins and dietary supplements as part of routine diet. According to AMR study more than 60% of adults are consuming vitamin on daily basis and more than 50% take a supplement daily. Consumers are now much more dependent for vitamins and other essential nutrients on additional supplements apart from food intake.
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The dietary supplement market has expanded rapidly amidst rise in vitamin deficiency among population, proliferation of preventative healthcare solutions, and taste & convenience; thus, motivating children and adults alike to take vitamins.
On the basis of type, the multivitamin segment accounted for nearly two-thirds of the total market share in 2018, and is projected to maintain its dominance during the forecast period. This is attributed to inclination of consumers towardfortified gummies for being convenient and healthy supplement. However, the prebiotics segment is estimated to portray the highest CAGR of 8.0% from 2019 to 2026.
Based on demographics, the children segment is expected to grow at the highest CAGR of 6.6% by 2026. However, the adult segment held nearly two-thirds of the global gummy vitamins market in terms of revenue in 2018, and is expected to maintain its dominant positionthroughout the forecast period, 2019–2026.
Based on region, North America contributed to the largest share in 2018, accounting for nearly half of the total market share, and is estimated to maintain its lead position during the forecast period. This is due to adoption of innovative strategies by leading players to sustain in the highly competitive market. However, Asia-Pacific is estimated to witness the highest CAGR of 8.5% from 2019 to 2026. This is due to rise in health consciousness among people and adoption of healthy lifestyle that enabled increase in day-to-day consumption of gummy vitamins.
Leading market players analyzed in the research are Bayer AG., Church & Dwight, Inc., Pfizer Inc., Pharmavite LLC, The Honest Company, Inc., Olly Public Benefit Corporation, SmartyPants Vitamins, Hero Nutritionals LLC, Bettera Wellness, and Ion Labs, Inc.
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