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(Health-NewsWire.Net, December 09, 2021 ) The global gummy vitamins market size is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 10.6 billion by 2025, recording a CAGR of 12.5%. Factors driving the demand for gummy vitamins include the rise in incidences of vitamin deficiencies and undernourishment problems in developing and underdeveloped countries.
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Opportunities: Synthetic and natural flavor enhancements and developments according to dynamic demands for improved flavors among the consumers
The global gummy vitamins market is gaining immense traction in the market for the last few years. This is attributed to the properties of gummy vitamins, such as flavors, tastes, and convenience of consuming, along with additional health benefits offered. Earlier gummies were offered by key players in limited flavors, colors, shapes, and sizes. However, with the increase in consumption and awareness, the demand for gummy vitamins started witnessing a substantial rise in demand. Key players are focusing on manufacturing a line of gummy vitamins with distinct flavors, such as lime, orange, cherry, strawberry, and similar mainstream flavors. With the rise in popularity of gummies, consumers are witnessing dynamic demands in terms of taste appeal. Due to these factors, key manufacturers are focusing on investing in developing and formulating gummies in new flavors.
Manufacturers have started offering innovative and exotic flavors, such as cherry, cola, peach, raspberry, and others, to widen the scope of opportunities for manufacturers and increase the acceptance and adoption of it among consumers. Some gummies include artificial colors or corn syrups to enhance the flavors in gummies. However, consumers in the market prefer opting for organic, natural flavor, and colorful gummies. This is due to the health benefits associated with organic and natural products. Thus, multiple players in the industry are introducing gummy vitamins made with natural fruit flavors.
For instance, Vitafusion (US) has launched a line of products in March 2020, which contain natural peach flavor and apple cider vinegar gummies. These gummies do not contain high fructose corn syrup, dairy, synthetic FD&C dyes, or artificial flavors/sweeteners. Thus, companies are introducing and launching gummies that have a fusion of natural fruit-based flavors, and thereby, cater to the global dynamic demands of consumers for various flavors. This results in increased growth opportunities for the global and regional players operating in the global market.
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Key Market Players:
Church & Dwight Co. Inc. (US), Life Science Nutritionals (Canada), Bettera Brands LLC (US), The Clorox Company (US), Softigel (US), Nature’s Way Products, LLC (US), Zanon Vitamec Inc. (US), Olly Public Benefit Corporation (US), Herbaland Naturals Inc. (Canada), Hero Nutritionals, LLC (US), SmartyPants Inc. (US), The Nature’s Bounty Co. (US), IM Healthcare (India), Nutra Solutions (US), Makers Nutrition, LLC (US), Vitakem Nutraceutical Inc. (US), Bayer Group (Germany), Ernest Jackson (UK), Boscogen, Inc (US), and Santa Cruz Nutritionals Inc. (US).
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