The global gummy vitamins market is not only gaining traction because of its growing customer base where children are primary consumers but also due to its popularity among health-conscious adults who seek to improve their life expectancy. Gummy vitamins are considered to be a choice alternative for bitter pills which most children may be hesitant to take because of their taste. With the rising interest of consumers in gummy vitamins, several brands are making broad investments in product development. That is why you could see gummy vitamins produced in various sizes, shapes, and colors to make them appealing to younger consumers.
The global gummy vitamins market is foreseen in a report by Transparency Market Research (TMR) to rise at a 5.2% CAGR between 2017 and 2025. By 2025, the market could be worth a US$4.17 bn, progressing from a US$2.68 bn earned in 2016.
How are different regions contributing to the market?
Elderly people in North America are surveyed to generally have a high uptake of dietary supplements in order to keep up with the required daily vitamin intake. Yet, this is not the only factor increasing the growth of the world gummy vitamins market in the region. Anticipated to record a revenue of US$1.64 bn by 2025, the regional market could take advantage of high disposable income of consumers and the rising trend of product development. Europe is predicted to closely follow North America with innovation in the formulations of gummy vitamins and the swelling demand for various products. Asia Pacific could also contribute to the market while riding on a strong demand for dietary and vitamin supplements.
In 2016, Bayer AG accounted for a colossal share of the international gummy vitamins market. The company took support from its solid regional reach, higher allocation on product development, and targeted multivitamins meant for all age groups to lead the market.
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