Gummy Vitamins Industry Anticipated to Expand at a CAGR of 6.5% during the Forecast Period 2026

Global gummy vitamins industry was estimated at $5.7 billion in 2018, and is anticipated to hit $9.3 billion by 2026, registering a CAGR of 6.5%

PORTLAND, OREGON, UNITED STATES, October 4, 2022 /EINPresswire.com/ -- 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. 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.

The gummy vitamins are most likely to play a pivotal role in preventative healthcare. Ageing population are now extensively affected by health-related diseases. Furthermore, impact of vitamin deficiency can be mitigated by incorporating gummy vitamins in daily diet. As a result, consumers globally are now venturing toward alternative form of pills, that is, gummy vitamins to cater to the nutrients deficiency mainly of vitamins in the body. Increasing adoption of alternative form of vitamins drives gummy vitamins market growth.

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Leading market players
Ion Labs, Inc.
Bayer AG.
SmartyPants Vitamins
Hero Nutritionals LLC.
Pfizer Inc.
Church & Dwight, Inc.
Bettera Wellness
The Honest Company, Inc.
Pharmavite LLC.
Olly Public Benefit Corporation

COVID-19 scenario-
The outbreak of the pandemic gave way to growing inclination toward improving health, which in turn, boosted the global gummy vitamins market to some extent.
However, halted production activities and disrupted supply chain hampered the market, thereby giving the market a mixed impact altogether.
The multivitamin segment to dominate by 2026-

By type, the multivitamin segment accounted for nearly two-thirds of the global gummy vitamins market share in 2018, and is anticipated to retain its dominance throughout the forecast period. This is owing to the fact that the majority of consumer base have started preferring fortified gummies as a convenient and healthy dietary supplement. The prebiotics segment, however, would showcase the fastest CAGR of 8.0% by 2026. Increase in consumption of functional foods drives the growth of the segment.

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The adult segment held the highest share in 2018-
By demographics, the adult segment contributed to nearly two-thirds of the global gummy vitamins market revenue in 2018, and is projected to maintain the lion's share from 2019 to 2026. This is due to very high prevalence of vitamin deficiency amongst adults. At the same time, the children segment would cite the fastest CAGR of 6.6% by the end of 2026. Stakeholders in the industry are offering supplements in gummy forms to attract kids, which in turn, has fuelled the segment growth.

North America to lead the trail in terms of revenue-
By geography, North America garnered the major share in 2018, contributing to nearly half of the global gummy vitamins market. This is because the key players in the region are taking recourse to innovative strategies in order to sustain in the highly competitive market. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 8.5% throughout the estimated period. This is attributed to the fact that people in this province have become highly health conscious and are preferring healthier lifestyle; thereby, adding gummy vitamins in their day-to-day consumption.

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