Gummy Vitamins Market | Driving Factors | COVID-19 Analysis

Posted on 2021-06-21 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 projected to reach USD 10.6 billion by 2025, recording a CAGR of 12.5% during the forecast period. The demand for gummy vitamins is increasing significantly, as they benefit the end-consumer in supplementing their diets with required essential nutrients. Also, it majorly provides the end-consumer with pleasant taste and convenience during consumption. Hence, the growing busier lifestyles and demand for on-the-go supplements are majorly driving the growth of the gummy vitamins market.

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COVID-19 Analysis:

The global market is moderately impacted due to the uncertain pandemic circumstances that occurred across the globe. The effects of COVID-19 have impacted the supply chain of the final products and the availability of raw material ingredients. The North American region, followed by Europe and Asia Pacific, plays a vital role in the gummy vitamins market due to the concentration of several key players operating here. The supply from these regions is affected because of COVID-19 lockdown and restrictions, restricting the transition of goods. However, it is expected that the regional consumption will witness a surge, especially with higher sales across the supermarkets & hypermarkets.

In addition, the consumption of vitamins, such as vitamin C and vitamin D, is associated with immunity-boosting benefits, which will act as another key factor to boost the demand for gummy vitamins. Moreover, the rise in concerns regarding the safety of human health and increase in awareness for immunity boosters and other key vitamins is projected to result in an exponential growth in demand for vitamin-induced products in gummy formats. The growth of the gummy format can be further attributed to facts such as the convenience provided by gummy products and the increasing number of consumers suffering from pill-swallowing issues.

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Key players in this market include Church & Dwight Co. Inc. (US), Life Science Nutritionals (Canada), Bettera Brands LLC (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), The Clorox Company (US), Ernest Jackson (UK), Boscogen, Inc (US), and Santa Cruz Nutritionals Inc. (US).

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