Gummy Vitamin Market to Reach $16.3 Billion, Globally, by 2032 at 5.9% CAGR: Allied Market Research

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May 02, 2024, 10:01 ET

The dietary supplement market has expanded rapidly, owing to rise in vitamin deficiency among the population, proliferation of preventative healthcare solutions, taste, and convenience; thus, motivating children and adults to consume vitamins. Therefore, this factor is expected to boost the growth of the market.

WILMINGTON, Del., May 2, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Gummy Vitamin Market By Product Type (Single Vitamin, Multivitamin, And Prebiotics), Source (Plant and Animal), Packaging (Bottles & Jars And Pouches), Format (Traditional Gummies and Sugar-Free Gummies), and Sales Channel (Hypermarket And Supermarket, Specialty Stores, Retail Pharmacies, And Online Sales Channel): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report, the global gummy vitamins market was valued at $9.1 billion in 2022, and is projected to reach $16.3 billion by 2032, registering a CAGR of 5.9% from 2023 to 2032.

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Prime determinants of growth

The dietary supplement market has expanded rapidly, owing to rise in vitamin deficiency among the population, proliferation of preventative healthcare solutions, taste & convenience; thus, motivating children and adults to consume vitamins. Therefore, this factor is expected to boost the growth of the market. However, the gummy vitamins contain substantial number of added sugars. For instance, one popular brand of gummy multivitamins for children produces gummy vitamins with three different types of added sugars and contains around 3 grams of sugar and around 15 calories per gummy. Therefore, the high amount of sugar in gummy vitamins restraints the growth of the market. The growing demand for personalized nutrition and functional ingredients presents a significant opportunity for the gummy vitamin market.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$9.1 Billion
Market Size in 2032	$16.3 Billion
CAGR	5.9 %
No. of Pages in Report	252
Segments Covered	Product Type, Source, Packaging, Format, Sales Channel, and Region
Drivers	• Increase in prevalence of dysphagia • Rise in consumer consciousness toward preventive healthcare
Opportunities	Growth in demand for personalized nutrition and functional ingredients
Restraints	High amount of sugar in gummy vitamins

The multivitamin segment to maintain its leadership status throughout the forecast period.

By type, the multivitamin segment held the highest market share in 2022, accounting for more than three-fifths of the global market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the probiotics segment is projected to manifest the highest CAGR of 7.1% from 2023 to 2032.

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The animal segment to maintain its lead position throughout the forecast period.

By source, the animals segment held the highest market share in 2022, accounting for about four-fifths of the global gummy vitamin market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the plant segment is the fastest-growing segment and is projected to manifest the highest CAGR of 7.3% from 2023 to 2032.

The bottles & jars segment to maintain its lead position throughout the forecast period.

By packaging, the bottles & jars segment held the highest market share in 2022, accounting for about four-fifths of the global gummy vitamin market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the pouches segment is the fastest-growing segment and is projected to manifest the highest CAGR of 7.3% from 2023 to 2032.

The traditional gummies segment to maintain its lead position throughout the forecast period.

By format, the traditional gummies segment held the highest market share in 2022, accounting for about four-fifths of the global gummy vitamin market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the sugar free gummies segment is the fastest-growing segment and is projected to manifest the highest CAGR of 8.0% from 2023 to 2032.

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The animal segment to maintain its lead position throughout the forecast period.

By distribution channel, the animals segment held the highest market share in 2022, accounting for about one-fifth of the global gummy vitamin market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the online sales channel segment is the fastest-growing segment and is projected to manifest the highest CAGR of 7.4% from 2023 to 2032.

North America to maintain its dominance by 2032.

By region, Europe held the highest market share in 2022, accounting for two-fifths of the market revenue, and is estimated to maintain its leadership status throughout the forecast period. In addition, the Europe region is projected to manifest the highest CAGR of 7.6% from 2023 to 2032.

Leading Market Players: -

UPFIELD B.V.
KITE HILL
MIYOKO'S CREAMERY
TOFUTTI BRANDS, INC.
TREELINE TREENUT CHEESE COMPANY, LLC.
VTOPIAN ARTISAN CHEESES, LLC
SAPUTO INC.
PARMELA CREAMERY
GOOD PLANET FOODS INC.
NUTS FOR CHEESE
ABOVE FOOD INC.
TYNE CHEASE LIMITED
BEL SA
DANONE S.A.
MAPLE LEAF FOODS, INC.

The report provides a detailed analysis of these key players in the global gummy vitamin market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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