Published: Apr-2021 | Format: PDF | Market Research Store | Number of pages: 168 | Code: MRS - 828564
According to the report published by Market Research Store, global demand for the adult vitamin gummies market was estimated at approximately USD 4,000 Million in 2019 and is anticipated to generate revenue of around USD 7,000 Million by end of 2026, growing at a CAGR of around 8.5% between 2020 and 2026.
Vitamin gummies were created for children who refused to take pills, but they quickly gained popularity among adults due to their appealing appearance and ease of digestion. They're nutrient-dense chewable dietary supplements that taste like candy. Furthermore, they are easy and provide the majority of the nutrients that a human body needs. They are likely to gain popularity among employed people due to their role as a key ingredient in promoting metabolic fitness and controlling the glycemic index, and folic acid count in the body. In the coming years, these products are projected to be a lucrative nutraceuticals product group. These drugs help with health issues including immune problems and nutrient deficiency.
The market is expected to benefit from the growing value of e-commerce portals as a marketing tool, as they serve as a forum for manufacturers to provide services alongside finished goods. The suitability of online transactions, such as payment through debit cards or debit and home delivery, is encouraging more people to shop online rather than in traditional stores. Furthermore, the booming pharmaceutical industry in emerging economies like China and India is expected to encourage healthcare companies to diversify their product range by introducing new nutraceuticals products. Adult gummies are expected to expand their market penetration as a result of increased awareness of a vegan diet among adults as a result of intensive brand campaigning by supplement manufacturers on e-commerce platforms and television media. Growing customer requirement for gummy vitamins due to their variety of shape, and taste, increasing cases of undernourishment and malnutrition in emerging countries, and the presentation of fresh organic formulated gummy vitamins by prominent players are all contributing to market development. Manufacturers of gummy supplements are concentrating on producing gummy vitamins with distinct tastes, which is expected to grow the demand during the evaluation period. Growing development of exotic flavors such as cola, peach, and strawberry is expected to be another important opportunity for the region's industry.
Based on product adult vitamin market is bifurcated into categories such as single vitamins, type III, multi-vitamins, and others. Multivitamins are estimated to hold a major share of the market. The wide range of applications of multivitamins is estimated to deliver traction for market growth. Further based on the application market is further bifurcated into categories such as immunity, vitamin deficiency, food supplements, weight management, and others. Vitamin deficiency is estimated to hold a major share of the adult vitamins gummies market in terms of applications. Based on the sales channel, the market is further split into food specialty stores, hypermarkets, convenient stores, supermarkets, and others. Hypermarkets are likely to hold a major share of the market owing to the high volume sales rate.
North America is estimated to hold the largest share of the adult vitamin gummies market. In developed markets, such as the United States and Canada, a trend toward healthy lifestyles, combined with growing consumer health concerns about chronic diseases, is likely to play a key role in increasing nutritional requirements. The Asia Pacific region is estimated to grow at the highest CAGR during the forecast period. Growing public health concerns about chronic diseases are expected to increase the value of proper food intake for people of all ages. This pattern is likely to promote the use of the commodity in the near future. Because of changing consumption habits, affordability, and the ease of finding items flavored with various flavors to fit different tastes, the market for adult vitamin gummies is expected to rise.
The major players dominating the global adult vitamin gummies market in terms of revenue and development are Bayer AG, Hello Bello, Bettera Brands, LLC, vitafive, Church & Dwight Co., Inc., SmartyPants Vitamins, Doctors Best, Pioneer Life Sciences, FoodState Nature's Way Products, LLC., Herbaland Naturals Inc., Pharmavite LLC., Hero Nutritionals, Pfizer Inc., IM Healthcare, Perrigo Company plc, Nutrition, LLC., Olly Public Benefit Corporation, Mr. Gummy Vitamins, and Others. These key players in order to obtain a reputed position in the global market have implemented several strategies such as signing agreements, bonds, contracts, partnerships, joint ventures, new product launches, collaborations, and mergers & acquisitions.
One of the industry's leading players, Aesthetic Nutrition Pvt. Ltd., has launched a new product named power gummies hair vitamins, which acts as a cheaper alternative to costly hair enhancement salon treatments. This product has the potential to revolutionize the hair care industry and replace high-priced salon visits.
Vitafusion introduced new gummy vitamins product lines in April 2019, including organic gummy supplements. The series is designed for adults to have high nutritional value, and it will be available in a variety of flavors depending on the ingredients used. Carrot, organic turmeric, and annatto are among the ingredients. The company will be able to broaden its product range in the market.
Hello Bello Gummy Vitamins released Gummy Vitamins in July 2019 that are free of artificial colors, additives, high-fructose corn syrup, and preservatives. The vitamins, according to the brand, are mostly organic and made with natural flavors and sweeteners. The company's brand value will rise as a result of this launch. Prenatal multivitamin gummies are becoming increasingly common, and most women love them because they are a countless way to provide moms with a variety of vegetables and fruits, as well as other vital nutrients and vitamins.
Adult Vitamin Gummies
Adult Vitamin Gummies