Gummy Supplements Market Promises Significant Growth due to Increasing Demand for Immunity Boosting

Author : naufan cmi | Published On : 12 Jan 2024

Gummy supplements have emerged as a popular delivery method for various vitamins, minerals and herbal extracts. Gummy supplements come in various fruit flavors and offer a chewable alternative to swallowing capsules and pills. They are also absorbed easily into the bloodstream and deliver targeted nutrients to the body. With growing health concerns and busy lifestyles, consumers are increasingly adopting gummy supplements to fulfill their daily nutritional requirements.

The global gummy supplements market is estimated to be valued at US$ 4093.89 Mn in 2023 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 Dynamics:

The increasing demand for immunity boosting gummy supplements plays a key role in driving the market growth. The COVID 19 pandemic has made individuals more conscious about boosting their immunity levels through vitamins, herbs and supplements. Hence, immunity focused gummy supplements containing vitamins C & D, zinc and elderberry have gained immense popularity. Moreover, rising health awareness amongst millennials and Generation Z has further augmented the demand. Additionally, busy schedules leave little time for people to plan and consume balanced diets. Hence, the availability of essential nutrients in gummy form encourages compliance and addresses the issue of not meeting daily nutrition requirements.

SWOT Analysis

Strength: Gummy supplements have become a popular delivery format for vitamins and minerals as they are easy to consume and taste good. As gummies are chewable and have pleasant flavors, they appeal to both children and adults who have difficulty swallowing pills. They also provide a fun and enjoyable way for children to take their daily vitamins. With changing lifestyles and hectic schedules, gummy supplements offer convenience as they can be easily carried and consumed on-the-go or while doing other activities.

Weakness: As gummy supplements generally have high sugar content, they are not suitable for individuals watching their sugar intake such as diabetics. High sugar levels can also lead to weight gain and dental issues with excessive consumption over a long period of time. Moreover, the amount of vitamins/minerals in gummies is often relatively low compared to traditional pills in order to prevent gastric discomfort.

Opportunity: There is immense scope for innovative products in the market, with customized/tailored vitamin formulas for different groups like kids, teens, adults, elderly, pregnant/lactating women etc. Manufacturers can introduce gummies targeting specific health conditions and nutritive needs. With growing health consciousness, opportunities also lie in launching sugar-free, low calorie varieties that address consumer demands for healthier snacks and food products.

Threats: Stringent regulations regarding ingredients, quality, packaging and labelling compliance pose risks for players. Constant change in consumer preferences based on new trends and availability of alternative delivery formats like chewables, strips are challenges. Intense competition from global as well as local suppliers threatens the market share and profits of companies.

Key Takeaways

The Global Gummy Supplements Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global gummy supplements market is estimated to be valued at US$ 4093.89 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.

Regional analysis The North American regional market accounted for the largest revenue share of over 35% in 2023 owing to rising incidence of vitamin/mineral deficiencies, increasing prevalence of chronic diseases, and presence of major players in the US and Canada. Asia Pacific is anticipated to experience the fastest growth rate during the forecast years. Countries such as China, India, Japan, and South Korea are major consumers and emerging manufacturing hubs, driving market expansion in the region.

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. Key players are focusing on new product innovations, mergers and acquis

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