The global Gummy Supplements Market Growth Accelerated by Emergence...

The global Gummy Supplements Market Growth Accelerated by Emergence of Online Retailing

نشر بتاريخ 2023-12-28 09:45:32

1كيلو بايت

Gummy supplements contain essential vitamins and minerals along with natural flavors and colors in compact and chewable gummy forms making them a tasty and convenient alternative to traditional pills and capsules. Gummies are gaining popularity among children and adults due to their ease of consumption without water.

The global Gummy Supplements Market is estimated to be valued at US$ 4093.89 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The emergence of online retailing has accelerated the growth of the gummy supplements market over the recent years. Majority of key players in the market are focusing on selling their products online due to easy availability of various dietary supplement products including gummy supplements on e-commerce platforms. E-retailing has made supplement products accessible to consumers beyond traditional brick and mortar stores. Wide availability, competitive prices, and convenient shopping experience are major factors fueling growth of online retailing in the gummy supplements market. The trend is expected to continue during the forecast period thereby positively impacting the market growth.

Segment Analysis
The global gummy supplements market is dominated by the adult gummy sub segment. Adults form a major consumer segment for gummy supplements as these products are chewable and come in various flavors that make their consumption more enjoyable for adults in comparison to conventional pills and capsules. This sub segment currently holds around 60% share of the overall market due to rising health consciousness among working professionals and growing preference for chewable supplements.

Key Takeaways
The Global Gummy Supplements Market Size is expected to witness high growth over the forecast period of 2023 to 2030 due to rising health awareness and changing lifestyles. The market size is projected to reach US$ 4093.89 Mn by 2030, expanding at a CAGR of 3.1% during the forecast period.

Regional analysis
North America currently dominates the global gummy supplements market and is expected to maintain its lead over the forecast period. This can be attributed to factors such as busy work schedules, rising chronic disease rates and growing shift toward preventive healthcare in the region. The markets in Europe and Asia Pacific are anticipated to exhibit promising growth rates over the coming years owing to increasing elderly population, urbanization and rising disposable income in various countries.

Key players
Key players operating in the gummy supplements market are BASF SE, British Petroleum Plc, Chevron Corporation, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (SINOPEC), ExxonMobil Corporation, INEOS Group Ltd., LyondellBasell Industries Inc., Royal Dutch Shell PLC, and SABIC. BASF SE and Lonza currently occupy prominent market shares due to their diverse product portfolios and global sales network.