(PharmaNewsWire.Com, November 24, 2021 ) The 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% in terms of value. The increasing prevalence of vitamin deficiencies and undernourishment along with growing demand and awareness for on-the-go supplements, supporting better health among consumers, is driving the majority growth of the global gummy vitamins market.
Gummy vitamins are chewable vitamins with taste, flavor, color, shape, and size similar to gummy candies. However, these gummies are induced with vitamins to offer various health benefits to end consumers. Gummy vitamins are recently gaining immense traction in the global market. Originally, it was launched to expand the customer base in the kids' segment. However, adults and consumers from older age groups have shown interest in consuming gummy vitamins as well, which has led to an increase in its consumption worldwide.
Based on end-user, the gummy vitamins market is dominated by adults. Additionally, it is projected further to grow at a faster growth rate during the forecast period. A higher percentage of the adult population across the globe, coupled with a few other factors, have attributed to this.
Other factors propelling the growth of the adult segment in the global gummy vitamin market include, need to consume these gummies among the older age population, to supplement their diets with required vitamins, which they are unable to absorb from foods and the external environment. Also, the majority of adults include the working-class population that has busier lifestyles, higher spending power, and increased chances of chronic diseases, due to which this segment accounts for a major share.
Leading companies are 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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