by Gummy supplements are multivitamins or other nutritional supplements that are formulated in a gummy or gel form. They help provide essential vitamins and minerals and are becoming increasingly popular due to their enjoyable taste and ease of consumption compared to traditional pills and capsules.
The global gummy supplement market is estimated to be valued at US$ 4093.89 Mn in 2024 and is expected to exhibit a CAGR of 9.3 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Gummy supplements taste better than traditional pills or capsules and are more enjoyable to consume. With increasing health consciousness, people are adopting gummy supplements as a playful way of meeting their daily vitamin and mineral needs. The availability of gummies in different flavors is further driving their demand. This rising preference for gummy supplements over pills and capsules is a major trend propelling the growth of this market.
SWOT Analysis
Strength: Gummy supplements provide a fun and tasty way for consumers to get their daily vitamins and minerals. Their chewable/gummy form makes them easier for children and those who dislike swallowing pills to consume.
Weakness: Gummy supplements are more expensive to produce than traditional pill supplements due to added costs of ingredients, machinery, and labor involved in manufacturing. Their smaller size also means consuming multiple gummies to get the same dosage as a single pill.
Opportunity: Expanding into new product lines beyond basic multivitamins can attract more consumers. For example, specialized gummies targeting specific health issues or ingredients like immunity, sleep, hair/nails and more.
Threats: Stricter regulations on supplements and ingredients may reduce formulation flexibility. Established pill supplement brands have more customer loyalty though gummies are gaining popularity quickly among younger consumers.
Key Takeaways
The Global Gummy Supplements Market Size is expected to witness high growth driven by rising health awareness and changing consumer preferences towards more chewable/edible supplement forms. The global gummy supplement market is estimated to be valued at US$ 4093.89 Mn in 2024 and is expected to exhibit a CAGR of 9.3 % over the forecast period 2023 to 2030.
The North American region currently dominates the market attributed to heavy shelf space and marketing by manufacturers of gummy supplements. The region accounted for around 35% market share in 2023. The Asia Pacific region is projected to be the fastest growing market for gummy supplements during the forecast period. Countries like China, Japan and India are major markets bolstering demand. Increasing disposable income and growing health supplement spending in emerging nations is supporting market expansion.
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. These companies are focusing on new product innovations, expanding distribution channels both online and in stores, and diversifying beyond basic multivitamin gummies. Strategic acquisitions are also helping large players enhance their market presence globally.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
