North America region dominated the gummy vitamin market with the largest share

Posted on 2021-05-13 by MarketsandMarkets in Food & Beverage, Pharmaceuticals // 0 Comments

The global gummy vitamins market size is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 10.6 billion by 2025, recording a CAGR of 12.5%. The millennials prefer consuming these gummies due to factors such as busier lifestyles, rising disposal incomes, growing awareness regarding preventive healthcare measures, and maintaining better health. Other factors driving the demand for these gummy vitamins include the rise in incidences of vitamin deficiencies and undernourishment problems in developing and underdeveloped countries.

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In recent years, health-conscious consumers are looking for nutritional foods and food products with essential health ingredients to prevent possible diseases and improve physical and mental well-being. The increase in the aging population and rise in consumer awareness in developing and developed countries are the key factors that have led to the rise in consumer preference for products with healthy ingredients, such as vitamins, required for the prevention or treatment of specific existing conditions. The increase in demands for such products has led several manufacturers to launch various products infused with vitamins in the dietary supplements market.

The North American market accounted for the largest share in 2019. The market in this region is majorly driven by the US, which is the largest producer, exporter, and consumer of gummy vitamins. Further, the rise in income, increase in purchasing power, and significant consumer demand for nutritional & healthy products are the key factors that are projected to encourage the consumption of gummy vitamins in the region.

The Asia Pacific region is projected to record a higher growth rate during the forecast period. This is attributed to the untapped potential, the increase in awareness among the population, the rise in investments from the global key players, and economic developments. In addition, due to the densely populated countries in the region with higher risks of chronic diseases and vitamin deficiencies, the market is projected to witness a high demand for gummy vitamins.

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Key Market Players:

Church & Dwight Co. Inc. (US), Life Science Nutritionals (Canada), Bettera Brands LLC (US), The Clorox Company (US), Softigel (US), Nature’s Way Products, LLC (US), Zanon Vitamec Inc. (US), Olly Public Benefit Corporation (US), Herbaland Naturals Inc. (Canada), Hero Nutritionals, LLC (US), SmartyPants Inc. (US), The Nature’s Bounty Co. (US), IM Healthcare (India), Nutra Solutions (US), Makers Nutrition, LLC (US), Vitakem Nutraceutical Inc. (US), Bayer Group (Germany), Ernest Jackson (UK), Boscogen, Inc (US), and Santa Cruz Nutritionals Inc. (US).

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