Gummy supplements are available with added vitamins, minerals, probiotics, and other ingredients that aim to support one’s daily nutrient needs. They provide an easy and enjoyable way to consume supplements without compromising on taste. Their fruit flavors and candy-like textures make dosing nutrients painless, especially for children and people who dislike swallowing pills. The growing adoption of preventive healthcare and customized nutrition through food supplements will continue driving the demand for 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, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising consumer preference for convenient dosing form of supplements is a key driver fueling the growth of the gummy supplements market. Gummy supplements are a convenient edible option for managing daily nutrient requirements, especially in busy lifestyles when people find it hard to stick to strict dietary or supplementation regimes. Their candy-like appeal also encourages compliance with long-term nutrient supplementation plans for both adults and children. Another factor boosting the market growth includes the flourishing demand for health and wellness products among millennials. Millennial consumers are increasingly spending on bespoke nutrition and preventive healthcare solutions. The innovative gummy formats cater well to their preferences and fuel the demand for these products. The health and wellness oriented trend will continue driving exponential growth opportunities for players in the gummy supplements industry over the forecast period.
Segment Analysis
The global gummy supplements market is segmented based on end user, distribution channel, formulation, and region. By end user, the market is segmented into adults and kids/children. The adults segment dominates with a market share of around 65% in 2024 as gummy supplements provide convenience of consumption for busy adults. By distribution channel, the market is segmented into store-based and non-store based. Store-based distribution channel dominates with around 70% share in 2024 as consumers prefer shopping supplements from offline stores for inspecting products before purchase. By formulation, the market is segmented into single vitamins, multivitamins, and probiotics. The multivitamins segment dominates with a share of over 45% in 2024 as multivitamins gummy supplements fulfill the daily nutrition requirement of consumers in a fun way.
PEST Analysis
Political: Regulations regarding supplement product formulation, labeling, and advertising differ across countries. This affects the entry of international players in regional markets.
Economic: Rising disposable incomes in developing nations boost the adoption of convenient supplementation options like gummy supplements. Higher spend on nutritional and wellness products also augurs well for market growth.
Social: Busy lifestyles and health consciousness are driving the uptake of supplements for filling nutritional gaps. Gummy supplements are gaining popularity among kids and adults due to their fun flavors and chewable texture.
Technological: Advances in formulation techniques help develop gummy supplements infused with diverse herbal extracts and probiotics with improved taste masking and long shelf-life. Digital marketing drives awareness and repeat purchases.
Key Takeaways
The Global Gummy Supplements Market Size is expected to witness high growth at a CAGR of 9.3% during the forecast period of 2023 to 2030.
North America holds the largest market share of over 35% in 2024 owing to rising health awareness among consumers. The Asia Pacific region is anticipated to grow at the fastest rate during the forecast period owing to increasing western influence, growing middle-class population with higher spending on wellness products.
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. Key players are focusing on product innovation and partnerships to strengthen their market presence. For instance, Diebold Nixdorf partnered with PayRange in 2021 to expand touchless payment options for restaurants and retail stores globally.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it