Gummy Vitamins Market Trends, Revenue Share & Opportunity Status Analyzed during 2018-2028

As per the current market trends and the promising nature of the gummy vitamins market, it can be estimated that the future holds positive outcomes. In order to provide a deep insight about the concerned market, FACTMR would be publishing a resourceful analysis that will enclose knowledge about the regional gummy vitamins market size, revenue and opportunity status. Readers will be offered the privilege to decode various facets of the market during 2018-2028, together with the active access to secondary and primary research methodology. Furthermore, various segments of the market associated to product, application, end-user etc., would also be present in this intelligent research report.

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The gummy vitamins market remains consolidated at the bottom with regional players holding over half of the overall market share. Increasing demand for vitamin supplements to overcome nutritional deficiencies has triggered a stiff competition amongst market forerunners and emerging players. To capitalize on the growing demand for vitamin supplements, companies are expanding their manufacturing facilities, while acquiring other local companies to gain a competitive edge. Further, these companies are launching new product lines offering consumers a variety of flavors while providing an increased nutritional value. The competition is further expected to intensify as both confectionery companies and vitamin supplement enterprises venture into the gummy vitamins market. The constant tussle to improve nutritional quality, while providing palatable flavors, is one of the key causes that is allowing new and emerging players to lure in extensive consumer base, which is constantly on the lookout for flavorful vitamin supplements.

• Anticipating continued bullish prospects of the gummy vitamin market, The Clorox Company acquired Nutranext that specializes in the manufacturing of vitamin dietary supplements, for USD $700 million in 2018. With the acquisition, Clorox aims to broaden its portfolio of dietary supplements in the market.
• To leverage the growing demand for organic and non-GMO products, vitamin supplement specialists, Smarty Pants launched the first line of organic gummy vitamins in SmartyPants Organics. According to the company, the new product line offers the first of its kind organic, vegetarian nutrient supplements enriched with probiotics and omega-3 and are produced to cater to the needs of the whole family.
• Trailing the trend of innovation in the gummy vitamins market, CV Sciences launched a hemp-derived cannabidiol gummy product manufactured using its PlusCBD Oil product in two flavors cherry mango and citrus punch in 2018. The company plans to market the product as a functional food in addition to being a dietary supplement.
• Anticipating the exponential rise in the demand for gummy vitamins around the world, SIRIO Pharma and Co., a company which specializes in the manufacturing of nutraceuticals, opened a 26,000-sq-meter plant to increase its gummy vitamin production to over 2 billion gummies per year. The company plans to utilize the facility to launch multiple standards of formulation such as sugar-free, low sugar, and vegan options in the U.S. and European markets.

Gains Underpinned by Widespread Prevalence of Vitamin Deficiency

Vitamin or micronutrient deficiency is one of the most prevalent health concern among the global population. According to a recent report by WHO, over 2 billion people around the world suffer from micronutrient deficiency. This widespread prevalence of vitamin deficiency can be attributed to various factors that range from chemical and mechanical alterations in natural food, to lax nutritional and labelling requirements. The changing dietary patterns of consumers worldwide has put them at a greater risk of micronutrient and vitamin deficiency. Severe health concerns have been associated with vitamin deficiency, including beriberi, rickets, scurvy, and anemia, apart from impacts on pediatric physical and mental development, and neurological problems. These concerns have been advocating the consumption of vitamin supplements among consumers, in line with surging health & wellness trend. Future prospects for gummy vitamins market are envisaged to be promising, as these health supplements gain ubiquitous acceptance among adults and children alike, with manufacturers’ efforts toward development of flavored gummy vitamins while retaining their efficacy.

Innovative Ingredients and Flavored Variants – Key Sales Determinants

The gummy vitamins market continues to witness product diversification, with consumer demand for new flavors and ingredients in these supplements. In order to expand their footprint in the gummy vitamins market, companies are introducing a variety of products with added nutritional value. Apart from the basic chewable multivitamins, companies are offering gummies with ingredients such as probiotics, omegas, and other immunity-boosters. Other unique offerings include organic gummies, vegan gummy vitamins, and wheat and gluten-free vitamin supplements. Additionally, leading gummy vitamins manufacturers on novel flavor offerings that range from grape to cherry and orange, to meet the varying consumer needs for taste. Added health benefits coupled with the different flavors continues to remain a key growth strategy of gummy vitamins market players.

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