by The gummy supplements market has witnessed steady growth in the recent past owing to the growing demand for convenient and palatable dosage forms of vitamins & minerals among consumers of all age groups. Gummy supplements are available in various tastes and flavors and contain essential vitamins and minerals that provide an array of health benefits.
The global gummy supplements market is estimated to be valued at US$ 4716.17 Million in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 to 2031.
Gummy Supplements Market Demand provide an enjoyable way of meeting daily nutritional needs through a chewable gummy format. They are an easy-to-swallow and convenient alternative to pills or tablets for maintaining overall wellness. The increasing health consciousness and preference for natural products without any artificial flavors or preservatives have further propelled the demand for gummy supplements. Moreover, rapid urbanization coupled with changing lifestyles has led to growing deficiencies of various micronutrients that gummy supplements help address effectively. The Global gummy supplements market is witnessing new product launches catering to segment specific demands and investments by key players to expand their geographic footprint.
Key Takeaways
Key players operating in the gummy supplements market are Diebold Nixdorf, Inc., DXC Technology, ECR Software Corporation, Fujitsu, ITAB Group, NCR Corporation, Pan-Oston Corporation, ShelfX Inc., Slabb Inc., and Toshiba Global Commerce Solutions. The growing health-consciousness and rising prevalence of lifestyle diseases have increased the demand for convenient nutritional supplementation, driving the growth of the gummy supplements market globally. Major gummy supplement manufacturers are focusing on geographic expansion and product diversification strategies to strengthen their market position and capture untapped opportunities across high potential regions.
Market key trends
The popularity of Gummy Supplements Market Size and Trends among millennials and generation Z due to their enjoyable taste and format is one of the key trends witnessed in the market. Manufacturers are leveraging this trend by developing innovative gummy products fortified with various vitamins, minerals, herbs, and other supplements targeting this young demographic profile. Additionally, the clean label movement has increased demand for supplements made from natural ingredients without any artificial colors, flavors, or preservatives. To capitalize on this trend, companies are launching clean label gummy products using natural colors and natural fruit flavors along with organic and plant-based ingredients for an enhanced nutritional experience.
Porter’s Analysis
Threat of new entrants: nutraceutical product development and production requires significant R&D investments and resources creating entry barriers.
Bargaining power of buyers: buyers have moderate bargaining power due to availability of substitutes like regular vitamins and dietary Gummy Supplements Market.
Bargaining power of suppliers: raw material suppliers like gelatin and fruit puree suppliers have low to moderate bargaining power due to availability of substitutes.
Threat of new substitutes: threat of new substitutes is moderate as several newer delivery formats of vitamins and supplements are emerging.
Competitive rivalry: the market is competitive with many regional and global players operating.
Geographically the North American region accounts for the major share of the gummy supplements market in terms of value. This is attributed to increasing health consciousness and growing adoption of nutritional and dietary supplements. The Asia Pacific region is poised to be the fastest growing market during the forecast period. Rising living standards, growing focus on preventive healthcare and increasing healthcare expenditure are driving the market in the region.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
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