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Gummy Vitamins Market

Gummy Vitamins for Children to Register 1.5x Expansion through 2031: Fact.MR Study

Published : 19 Aug 2021 Industry: Food & Beverage

Recent Fact.MR data posits that the global gummy vitamins market is forecast to account for an absolute dollar opportunity of over US$ 2.5 Bn between 2021 and 2031, reaching US$ 3.71 Bn and expanding at a CAGR of 5.9%. It is anticipated that propensity towards fortified gummies will boost sales for gummy vitamins market throughout the forecast period. 

Historically, sales of gummy vitamins expanded at a CAGR of 4% to reach US$ 3.5 Bn from 2016 to 2020. High demand for gummy vitamins is a lucrative opportunity for supplement manufacturers in developed economies. The majority of top players in the gummy vitamin industry are based in the United States, although their growth is being observed in the international market.

Even though companies are focused on establishing a foothold in domestic markets, the trend of regional expansion in high potential regions such as APEJ and MEA is expected in the foreseeable future.

Key Takeaways from the Market Study

  • North America accounts for more than 25% of the total gummy vitamins market.
  • Asia presents the highest potential for growth, projected at 2.0X over its current market value.
  • Multivitamins hold a prominent share within the gummy vitamins market with a share of over 50%.
  • Gummy vitamins targeted at children anticipated to witness a growth of 1.5x during the forecast period.  
  • Germany to expand at a CAGR of 6% across the 2021-2031 assessment period
  • Online retail for gummy vitamins is expected to garner an absolute dollar opportunity of over US$ 400 Mn.

“Increasing global consciousness about preventive healthcare, digital platforms and social networking sites are becoming a prominent tool for gummy vitamin producers to advertise their products” says the Fact.MR analyst.

Competitive Landscape

Currently, the gummy vitamins market is fragmented consisting of several food giants including Church & Dwight, Pfizer, and Ferrara acquiring more than 25% market share with multiple emerging players. Key competitors within the gummy vitamin market are focused on improving their product range and retail presence online. 

Some of the key players in the gummy vitamins market include Nestle SA, Bayer AG, Pfizer Inc., Church & Dwight Inc., The Honest Company Inc., Pharmavite LLC, GlaxoSmithKline (GSK), Bayer AG, Church & Dwight Co. Inc., and Unilever PLC (OLLY), among others.

  • For instance, recently in 2021, Nature’s Truth announced the expansion of its line of vitamin gummy with three products focused on children’s needs. The product range includes children’s multivitamin gummies, Vitamin C gummies, and elderberry gummies. The new gummies are vegetarian, non-GMO, and free of gluten, dairy, and artificial flavor.
  • In March 2020, San-Fransico-based brand OLLY launched its gummy vitamin supplements in Singapore after the company was purchased by Unilever in 2019. Before its launch, Olly's gummy vitamins were available only in Target stores and in the U.S. via Amazon.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the gummy vitamins market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The report discloses compelling insights into the demand for gummy vitamins based of product type (single vitamin gummy, multivitamin gummy, probiotic vitamin gummy), source type (animal based, plant based), customer orientation (children, men, women), packaging type (bottles & jar, standup pouches, other packaging type), sales channel (direct sales, modern trade, convenience stores, departmental stores, specialty stores, drugstore/pharmacies, online retailers, other sales channels) across several major regions.

Fact.MR’s Domain Knowledge in Food & Beverages

Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Santosh Kumar

Fact.MR

Sr. Consultant – Food and Beverages

E-mail: santosh@factmr.com

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Gummy Vitamins Market Size, Share, Trend Analysis & Competition Tracking By Product Type (Single Vitamin, Multivitamin, Probiotic Vitamin), By Source Type (Animal Based, Plant Based) and Global Market Insights 2021 to 2031