Gummy supplements refer to chewable supplements that are infused with various micronutrients. They come in a variety of flavors and provide essential vitamins, minerals, herbs and other ingredients. Their gummy texture makes them very easy to chew and swallow, especially appealing to children and people who have difficulty swallowing pills. Some key benefits of gummy supplements include taste masking of unpleasant ingredients, convenient packaging and dosing flexibility.
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 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing consumer preference for chewable supplements over conventional pills is a major driver fueling the growth of gummy supplements market. Gummy supplements are a more convenient and enjoyable way for maintaining nutritional balance throughout the day. Busy lifestyles and hectic schedules have led to increasing demand for supplements that can be easily consumed anywhere, anytime without water. This has boosted the popularity of gummy supplements especially among millennials and generation Z consumers. Additionally, gummy supplements taste appealing to people of all ages including children and elders, which has encouraged wider acceptance and uptake of these chewable supplements. Strategic marketing campaigns by key players focusing on the fun and flavorful format of gummy supplements have further accentuated their demand.
However, some challenges persist in the form of concerns around excessive sugar content in gummy supplements. Excess sugar intake can promote obesity, diabetes and tooth decay. Key players are responding to address these issues by introducing sugar-free, low sugar varieties containing natural sweeteners like fruit juice concentrates. Manufacturers are also enhancing gummy textures using ingredients like tapioca syrup that mimic sugary properties for taste but have lower glycemic impact. Such product innovation initiatives will favor market expansion over the forecast period.
SWOT Analysis
Strength: The gummy supplements market has high growth potential owing to the increasing demand for chewable supplements among consumers. Gummy supplements are easy to consume and not messy like pills. They are ideal for children and aging population who have difficulty in swallowing pills. Gummy supplements taste better than pills and comes in various fruit flavors that make supplements more appealing.
Weakness: High costs involved in production of gummy supplements puts pricing pressure on manufacturers. Gummy supplements also have shorter shelf life than conventional pills or powders. There is lack of awarenss among consumers regarding quality standards and consistency in dosage of various gummy supplement brands.
Opportunity: Growing health consciousness and demand for indulgence foods offers scope for gummy supplements manufacturers to expand product portfolio and introduce wellness gummies for stress, sleep etc. Rise in e-commerce has boosted accessibilty of gummy supplements to consumers globally.
Threats: Stricter regulations pertaining to dietary supplement products act as deterrent for new entrants. Shift towards morenatural remedies can reduce demand for some synthetic supplement categories.
Key Takeaways
The Global Gummy Supplements Market Size is expected to witness high growth. Rising health expenditure along with changing lifestyles and busy schedules have increased the demand for convenient nutrition delivery formats like gummy supplements. 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 9.3% over the forecast period 2023 to 2030.
North America currently dominates the gummy supplements market owing to structural shifts towards preventive healthcare and supplement intake among population. The United States accounts for the largest share in the region with growing influcence of Millennials and increasing launches of probiotic, vitamin and herbal gummies. The Asia Pacific region is projected to record fastest growth in gummy supplements market during the forecast period. Rapidly growing middle class, rising disposable incomes and burgeoning youth population are driving supplement consumption in the region. Moreover, ongoing westernization is making supplements more mainstream in diets. China, Japan and India offer huge untapped opportunities for supplement brands given their massive population bases and increasing spending on food innovations.
Key players operating in the gummy supplements market are Diebold Nixdorf, Inc., DXC Technology, ECR Software Corporation, Fujitsu, ITAB Group, NCR Corporation, Pan-Oston Corporation, ShelfX Inc., Slabb Inc., and Toshiba Global Commerce Solutions. The gummy format has paved way for product innovations catering to specific population segments like children, adults, pregnant women among others. Companies are investing in R&D to develop supplements addressing various health conditions and wellness needs. Strategic collaboration with retailers and e-commerce channels will broaden the reach in future.
Get more insights on this topic:
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian