Market Scope

Gummy Vitamins Market Size was valued at USD 4.8 billion in 2022. The Gummy Vitamins market industry is projected to grow from USD 5.15 Billion in 2023 to USD 7.86 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.30% during the forecast period (2023 - 2030)

Market Boosters and Restraints

The increase in number of cases of vitamin deficiency is expected to surge the gummy vitamins market growth. The decline in the quality of daily diet is a major cause for vitamin deficiency. This is leading to a growing number of people suffering from immunity issues, which retards health. The urge to compensate the vitamin deficiency is expected to boost the gummy vitamins market growth. Due to the hectic schedule of working professionals, gummy vitamins are gaining more popularity among them. Whereas, the availability of gummy vitamins in different shape and color is hiking its sales number among children. With e-commerce in trend and simplified supply chain of gummy vitamins, the profit margins is increased for the market vendors. Different pharmaceuticals eye this situation as a scope to launch new products, hence, are likely to invest considerably in research and developmental activities. Owing to, the surge in the awareness about gummy vitamins, its sales number is also likely to escalate. These factors above are identified as potential market boosters, expected to spur the global gummy vitamins market growth. However, the possible adverse effects of gummy vitamins can hinder its market expansion.

Segmental Overview

The global gummy vitamins market has been segmented based on type, distribution channel, and end-user.

Based on the type, the gummy vitamins market has been segmented into single-vitamin and multi-vitamins. The multi-vitamins segment is likely to attain a CAGR of 9.20% CAGR over the forecast period. Due to the higher demand for multivitamins, its segment is accounted to reach a valuation that is to be worth USD 6.61 billion by 2028. The single vitamins segment can garner a CAGR of 8.88% over the forecast period and touch a valuation of USD 2.78 billion by 2028.

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Based on the end-user, the gummy vitamins market has been segmented into child and adult. The child segment can surge registering a striking 9.27% CAGR over the evaluation period. The availability of varieties of gummy vitamin can aid the market to value USD 2,776.5 million by 2028. The adults segment is likely to spur at a growth rate of 9.03% over the review period.

Based on the distribution channel, the gummy vitamins market has been segmented into store-based channel and non-store channels. Where the store-based segment is poised to touch a USD 7,684.5 million by 2028, the non-store-based segment is expected to garner CAGR of 10.10% over the evaluation period. Due to the extensive use of e-commerce, a wide range of products are being availed easily to consumers. This is anticipated to upsurge the growth of the non-store segment. 

Regional Analysis

Based on the region, the gummy vitamins market research report has been studied across Latin America, Asia Pacific, North America, Europe, and the Middle East & Africa.

The European gummy vitamin market is envisaged to grow with is projected 9.40% CAGR and touch a valuation to be worth Owing to increase in the number of consumers opting for nutritious and organic foods and beverages, the  regional market  can be valued at USD 2,939.7 million by 2028. 

The gummy vitamin market in the APAC can reach a valuation of USD 2,019.9 million by 2028 from USD 770.2 million in 2018. Factors that can favor the regional market expansion are a hike in disposable income, the surge in consumer’s purchasing power, and the growing trend of health consciousness among people.

Prominent Vendors

Key players that are operating in the gummy vitamins market include Church & Dwight Co. Inc. (US), Nutra Solutions (US), Herbaland Naturals Inc. (Canada), The Nature's Bounty Co. (US), ZanonVitamec Inc. (US), Life Science Nutritionals (Canada), Bettera Brands LLC (US), Softigel (US), Nature's Way Products LLC (US), Olly Public Benefit Corporation (US), and Hero Nutritionals LLC (US)

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