Gummy Vitamins Market is expected to generate $9.3 billion by 2026, registering a CAGR of 6.5% from 2019 to 2026. The report offers a detailed analysis of changing market dynamics, market size& trends, market estimations, key investment pockets, top segments, and business performance of key players.
Surge in incidence of dysphagia, rise in consumer awareness regarding preventive healthcare, and increase in prevalence of vitamin deficiency drive the growth of the global gummy vitamins market. However, huge amount of sugar in gummy vitamins and difficult way to make vitamin stable in gummy format hinder the growth. On the other hand, pectin as an alternative for gelatin would offer new opportunities in coming years.
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Based on type, the multivitamin segment contributed to nearly two-thirds of the global gummy vitamins market share in 2018, and is expected to dominate throughout the forecast period. This is due to the fact that most of the consumers have turned to fortified gummies as a convenient and healthy dietary supplement. The prebiotics segment, on the other hand, would cite the fastest CAGR of 8.0% till 2026. This is attributed to upsurge in consumption of functional foods, which have potentially positive effects on health.
Based on demographics, the children segment is expected to grow at the highest CAGR of 6.6% by 2026. However, the adult segment held nearly two-thirds of the global gummy vitamins market in terms of revenue in 2018, and is expected to maintain its dominant positionthroughout the forecast period, 2019–2026.
Based on region, North America contributed to the largest share in 2018, accounting for nearly half of the total market share, and is estimated to maintain its lead position during the forecast period. This is due to adoption of innovative strategies by leading players to sustain in the highly competitive market. However, Asia-Pacific is estimated to witness the highest CAGR of 8.5% from 2019 to 2026. This is due to rise in health consciousness among people and adoption of healthy lifestyle that enabled increase in day-to-day consumption of gummy vitamins.
Leading market players analyzed in the research are Bayer AG., Church & Dwight, Inc., Pfizer Inc., Pharmavite LLC, The Honest Company, Inc., Olly Public Benefit Corporation, SmartyPants Vitamins, Hero Nutritionals LLC, Bettera Wellness, and Ion Labs, Inc.
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