Gummy Vitamins Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030

Claims of High Immunity through Vitamin Intake Creating Growth Prospects for Gummy Vitamins

It is important to recognize that one cannot be shielded from COVID-19 by supplementation, diet or major lifestyle changes other than social distancing and good hygiene practices. However, the general idea of vitamin gummies making the immune system stronger is creating growth prospects for the overall market. Gummy vitamins and other vitamin offering sections in supermarkets and convenience stores are lying empty with claims on social media that Vitamin infused products can help boost immunity amid COVID-19. However, the flow of gummy vitamins from one channel to another continues to be limited due to vehicle shortages, lack of manpower and numerous state laws enacting lockdowns. Determining the impact of Covid-19 on the outlook for demand for gummy vitamins will be premature. The global pandemic, however, has put up some roadblocks for a stable growth of the global gummy vitamins market

Appetizing Formulations to Boost Gummy Vitamins Market Growth

The change from gelatin and sugar gummies to vegan and sugar-free gummies is expected to bring intrinsic opportunities in the market for gummy vitamins. Thus, gummy vitamins market is estimated to rise at a growth rate of over 5.5% between 2020 and 2030. Owing to their ease of use and variety of unique flavors, vitamin consumers are moving from conventional pills to gummy vitamins. Innovative goods like hemp based gummies and pet-oriented gummies have hit the market to cater for the consumer's inclination towards vitamin sources with additional attributes. However, due to the Covid-19 outbreak the retail sector in several countries like India have locked down with no sales flow. The supply of gummy vitamins and other medicinal products have also taken a big hit as authorities fail to deliver and ensure necessary supplies.

North America Leads While APEJ and MEA Slated for High Growth

While being common in developed regions, gummy vitamins in developing economies are still in their nascent phase. North America holds the highest share in gummy vitamins market, accounting for more than 25% of the total market share in terms of value. APEJ presents the highest potential for growth, projected at 2.0X over its current market value. Amid the Covid-19 outbreak, the high acceptance of gummy vitamins in developing regions is leading manufacturers to prioritize on digital commerce leading to increased intake of dietary supplements such as gummy vitamins.  

Inorganic Development Strategies Followed by Gummy Vitamin Manufacturers

The global gummy vitamins market is highly fragmented, with top players accounting for 1/5th of the overall market share. Majority of the key players in gummy vitamins market like Pharmavite LLC, Nutranext, LLC and Life Science Nutritionals Inc. are working collectively with several subsidiaries like Otsuka Pharmaceutical, The Clorox Company and Sara Lee Corporation. Some of the key developments in the gummy vitamins market are:

• In March 2020, American Startup, 16VIT, launched a range of gummy vitamin supplements attributed to modern day gamers. With the increasing number of supplements, energy drinks and multivitamins focusing high intensity gamers, the company is positioning to tap into an ever-growing vitamin supplement market for gamers by offering different vitamin products focused for gamers.
• 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.
• In March 2020, Church & Dwight Co. Inc., with its VitaFusion brand launched six new gummy vitamin products targeting immunity and skin disorders

Amidst the Covid-19 outbreak, although most players have been able to withstand the closure of factories because they have inventories on hand to mitigate short-term supply interruptions, any effect on the supply chain of gummy vitamins will only be felt if COVID-19 continues to have an effect after mid-April

Impact of Covid-19 on Global Gummy Vitamins Market

Covid-19 pandemic has adversely affected the global food and beverages industry where both the production and supply chain have been disrupted by national and regional lockdowns. Unlike other markets, a change in consumer habits has resulted in increased demand for other essential food and beverage products. At the same time, manufacturers of gummy vitamins are deciding how best to address potential supply chain disturbances and capacity limitations that may prevent them from meeting changing customer requirements.

In particular, the market for gummy vitamins also faced the drastic impact of the Covid-19 crisis as demand was observed to decrease in January and February during those months relative to demand in 2019. Under the optimistic scenario, the global market for gummy vitamins is expected to remain squat in the first quarter of 2020 under the strong impact of Covid-19, and demand from the second quarter may once again increase. On the other hand, under the probabilistic scenario, the market is expected to remain under strong crisis control until the second quarter, and the situation may ameliorate from the third quarter on. Although the effect of the crisis will disrupt the demand for rubbery vitamins in the pessimistic scenario for all four quarters, the market will begin to show improvement by the first quarter of 2021.

“A preference for preventive medicine coupled with a health-conscious population fuels the global gummy vitamins market. The consumption of gummy vitamins is driven by rapid urbanization and the stress caused by a fast-paced lifestyle on account of several factors” says the Fact.MR analyst

Report Scope

The global gummy vitamins market is segmented on the basis of product type, source type, customer orientation, packaging type, sales channel and region.

On the basis of product type, the gummy vitamins market is segmented into:

• Single Vitamin Gummy
• Multivitamin Gummy
• Probiotic Vitamin Gummy

On the basis of source type, the gummy vitamins market is segmented into:

• Animal Based
• Plant Based

On the basis of customer orientation, the gummy vitamins market is segmented into:

• Children
• Men
• Women

On the basis of packaging type, the gummy vitamins market is segmented into:

• Bottles & Jar
• Stand-Up Pouches
• Other Packaging Type

On the basis of sales channel, the gummy vitamins market is segmented into:

• Direct Sales
• Modern Trade
• Convenience Stores
• Departmental Stores
• Specialty Stores
• Drug Stores / Pharmacies
• Online Retailers
• Other Sales Channel

On the basis of region, the gummy vitamins market is segmented into:

• North America
• Latin America
• Europe
• APEJ
• Japan
• CIS & Russia
• Middle East & Africa