Gummy supplements are chewable dietary supplements or vitamin pills usually aimed at children and millennials. Gummy supplements are available in different flavors and colors to make consumption of nutritional supplements more enjoyable. They come in multivitamins, vitamin D, vitamin B, probiotics, melatonin and omega-3 fatty acids varieties. The millennial and generation Z consumers prefer gummy supplements over traditional pills due to their berry and fruit flavors. The rising health consciousness and inclination toward natural products have been driving the demand for gummy supplements. Additionally, busy lifestyles have increased the demand for convenient yet nutritional supplement options like gummies.
The global gummy supplements market is estimated to be valued at US$ 4093.89 Mn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the major drivers for the growth of the gummy supplements market is the rising demand for nutritional supplements among millennials and generation Z consumers. The younger population is more health conscious and prefer easy to consume supplement options like gummies over pills. Moreover, busy lifestyles have increased the demand for convenient yet nutritional supplement products. The berry and fruit flavors of gummies also appeal to the younger demographics driving the market’s growth. Another driver is the increasing inclination toward natural products and ingredients. Gummies contain fruit and vegetable extracts along with vitamins and minerals which provides a clean label and all natural appeal boosting their popularity.
Segment Analysis
The gummy supplements market is dominated by the vitamins & dietary supplements segment. This segment accounts for over 60% of the market share as gummy supplements have emerged as a tasty and fun alternative to traditional supplements especially among millennial and children. Moreover, gummy supplements are easy to consume, portable and don’t require water intake like pills or capsules which drives their demand. Within this segment, multivitamin gummies dominate as they offer diverse benefits in a chewable form.
PEST Analysis
Political: The regulations around use of certain ingredients and marketing of supplements are becoming more stringent. However, the growing awareness about preventive healthcare is encouraging adoption of supplements.
Economic: Rising incomes and growing health consciousness is boosting expenditure on supplements. The low cost of gummy format also contributes to increasing affordability of supplements.
Social: Changing lifestyles and time constraints have increased preference for convenient product formats like gummies. They have gained popularity as a fun way for children and adults to meet their daily nutrition requirements.
Technological: Advancements in formulation technologies help manufacturers develop gummies with high nutritional value and distinctive flavors without compromising taste or texture. This is expanding the consumer base for gummy supplements.
Key Takeaways
The Global Gummy Supplements Market Size is expected to witness high growth over the forecast period. The global gummy supplements market is estimated to be valued at US$ 4093.89 Mn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 to 2030.
North America currently dominates the market owing to rising health awareness and growing adoption of preventive healthcare measures in the region. The market is seeing increased preference for natural and plant-based ingredients in gummy supplements which is fueling 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 industry is highly competitive with these players focusing on new product offerings catering to evolving consumer preferences for ingredients, flavors and formats.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it