3D Printed Gummies, Plant-Based Gummies, And Flavoured Gummies - The Latest Trends In The Gummy Vitamins Market 2023 With The Rise In Digital Media Marketing And Social Media As The Driver
As Per The Business Research Company's Gummy Vitamins Global Market Report 2023, The global gummy vitamins market is expected to grow from over $7 billion in 2023 to nearly $14 billion by 2032 at a compound annual growth rate (CAGR) of 7%.
LONDON, Dec. 19, 2022 /PRNewswire/ -- This massive growth of the gummy vitamins market in the forecast period is supported by the major driver of the gummy vitamins market ie. the rise in digital media marketing and social media.
The increasing social media penetration is expected to contribute to the growth of organic food sales through online channels over the forthcoming years. The number of social media users globally grew from 4.2 billion in January 2021 to 4.62 billion in January 2022, recording a year-on-year growth of 10.1%. Social media and digital media marketing are driving the market for different types of vitamin products including gummy vitamins. The companies are starting new social media campaigns to advertise their products and encourage consumers to try new recipes.
For instance, Power Gummies, an India based company offering gummy vitamins, is active on social media platforms such as Facebook, Instagram, Twitter, Pinterest, and YouTube. Social media marketing accounts for 70-80% of its revenue. Shraddha Kapoor, a well-known Indian actress, is the face of Power Gummies. She became a brand ambassador in 2021, has been in numerous commercials and is the primary influencer for Power Gummies, an India based company offering gummy vitamins. Increased product awareness through social media is expected to fuel the growth of the gummy vitamins market.
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Latest Trends In The Gummy Vitamins Market 2023 - 3D Printed Gummies, Plant-Based Gummies, And Flavoured Gummies
Launch Of 3D Printed Gummy Vitamins
3D printed gummy vitamins is a key trend gaining popularity in the market. By 3D printing gummy vitamins, the process is highly sustainable, using virtually no plastic waste. Plus, there is re-sterilize, re-use and clean all utensils within the facility.
For example, in March 2022, Nourished, a Birmingham, a UK-based company providing a customized nutrition product that uses patented 3D printing technology, launched Nutristacks, an innovative new range of 3D printed vitamin gummies that have been developed in partnership with Colgate, a USA based consumer products company. Each Nutritstack is 3D printed on demand to ensure optimum efficacy and higher absorption levels.
Use Of Plant-Based Gummies
The use of plant-based gummies is gaining traction in the gummy vitamins market. Plant-based gummy candy helps vegans and vegetarians get their vitamins and the rapidly increasing vegan population is expected to propel the growth of the gummy vitamins market during the forecast period to avoid the pitfalls of vitamin deficiencies, people who adhere to plant-based diets take supplements.
Flavored Gummy Vitamins
Gummy vitamins are designed to be a more palatable alternative to regular vitamins since consumers are searching for more convenient and entertaining supplement experiences, which will lead to a move towards flavoured gummy vitamins. Gummy formulations are commonly made from gelatine, corn starch, water, sugar, and added colourings.
Major Player Covered In The Global Gummy Vitamins Market Report 2023
The global gummy vitamins market is fragmented, with a large number of players. The top ten competitors in the market made up to 15% of the total market. Majority of the companies are local players have large number of domestic manufacturing facilities and have presence across the supply chain. However, some large companies are trying to expand their presence in other low cost economies to take advantage of low cost labor and cheaper raw material prices. Church & Dwight Co Inc was the largest competitor with more than 4.7% share of the market, followed by Unilever PLC, Otsuka Pharmaceutical, Reckitt Benckiser Group plc., Sirio Pharma Co., Hero Nutritionals LLC., Herbaland Naturals Inc., and more.
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Regional Analysis of the Global Gummy Vitamins Market 2023
North America is the largest region in the gummy vitamins market, accounting for more than 45% of the total market. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the gummy vitamins market will be Asia Pacific and South America where growth will be at CAGRs of 9.2% and 9.0% respectively.
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