Adult Vitamin Gummies Market Size Estimated to Reach $7.4 Billion by 2026

May 04 18:28 2021
Adult Vitamin Gummies Market Size Estimated to Reach $7.4 Billion by 2026

Adult Vitamin Gummies Market
Growing Awareness Regarding Vegan Diet Driving the Growth of Adult Vitamin Gummies Market.

Adult Vitamin Gummies Market size is estimated to reach $7.4 Billion by 2026, growing at a CAGR of 9.1% during the forecast period 2021-2026. Gummy vitamins are chewable vitamins that have a texture and taste similar to gummy candies and come in a variety of flavours and shapes. Gummy vitamins are commonly made from gelatin, corn starch, water and added colourings. These products act as a solution for health issues such as immune problems and low bone strength. Growing awareness regarding vegan diet on account of extensive brand campaigning by the supplement manufacturers, growing awareness regarding weight management among working professionals, increase in the expansion of product portfolio of nutraceutical products by the healthcare companies and growing consumption of gummy vitamins from customers with nutritional deficiency are the factors that are set to drive the growth of the global market for the forecast period 2021-2026.

Adult Vitamin Gummies Market Segment Analysis – By Product Type

The Global Adult Vitamin Gummies Market based on the Product Type can be further segmented into Single Vitamin, Multi-Vitamin, Type III, and Others. The Multi-Vitamin segment held the largest share in 2020 owing to the growing consumption of multivitamins from adults and millennials. Multivitamins consist of all essential nutrients such as niacin, folic acid, iodine, zinc and choline as well as vitamin A, C, D, E, H and B5. They are capable of ensuring the proper flow of fluid surrounding joints, which is driving the growth of the market. Single Vitamin is estimated to be the fastest-growing segment during the forecast period 2021-2026. This is owing to the growing demand from customers with nutritional deficiencies. Single vitamin products are recommended by the National Institutes of Health for specific population groups, including pregnant women and women suffering from anemia, which is propelling the growth of the market.

Adult Vitamin Gummies Market Segment Analysis – By Application

The Global Adult Vitamin Gummies Market based on the Application can be further segmented into Food Supplements, Weight Management, Vitamin Deficiency, Immunity, and Others. Food Supplements segment held the largest share in 2020 owing to the growing consumption of food supplements to correct nutritional deficiency and to ensure adequate nutritional intake for the human body. European Commission has established rules to ensure proper labeling of food supplement products, which is driving the growth of the market. Weight Management segment is estimated to be the fastest-growing segment with a CAGR of 10.56% during the forecast period 2021-2026. This is owing to the growing awareness regarding weight management among working professionals. Nutraceutical manufacturers are using vitamin ingredients and fruit flavors in gummies for weight management, which is driving the growth of the market.

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Adult Vitamin Gummies Market Segment Analysis – By Geography

The Global Adult Vitamin Gummies Market based on the Geography can be further segmented into North America, Asia-Pacific, Europe, and Rest of World (ROW). North America held the largest share with 33.14% of market in 2020. The growth in this segment is owing to the factors such as growing inclination towards healthier lifestyles and growing awareness regarding weight management among working professionals. The growing consumption of gummy vitamins from customers with nutritional deficiencies in the region is driving the growth of the market. Asia-Pacific is estimated to be the fastest growing segment during the forecast period 2021-2026. This is owing to the factors such as increase in the health consciousness among individuals, growing trends of online shopping in countries like India and China, and growing awareness regarding vegan diet on account of extensive brand campaigning by the supplement manufacturers.

Adult Vitamin Gummies Market Drivers

Growing awareness regarding vegan diet

The growing awareness regarding vegan diet owing to the extensive brand campaigning by the supplement manufacturers and rise in the health consciousness among the consumers across the world is propelling the growth of the Adult Vitamin Gummies Market.

Growing consumption of food supplements

There is a rapid increase in the consumption of food supplements to correct nutritional deficiency and to ensure adequate nutritional intake for the human body. The growing incidences of nutritional deficiency has increased the demand for food supplements, which in turn is fueling the growth of the market.

Adult Vitamin Gummies Market Challenges

Health concerns associated with the overconsumption of gummy vitamins

Several health issues in adults has made the consumers shift towards other nutritional products, which is one of the major factors that is estimated to reduce the growth of the Adult Vitamin Gummies Market.

Adult Vitamin Gummies Industry outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Adult Vitamin Gummies Market. Key companies of this market are Bayer AG, Boli Naturals LLC, Ferrara Candy Company, Pfizer, Pharmavite LLC, Church & Dwight Co, Nutra Solutions USA, Ernest Jackson, Softigel, Makers Nutrition LLC among others.

Acquisitions/Product Launches:

In 2020, Softigel has launched Funtrition division to increase its capacity by making major plant renovations with advanced equipment to enable growth, deliver more quality and reliability with new product launches in different gummy vitamin products for adults.

In 2019, Church & Dwight Co has launched Vitafusion Organic gummy vitamin, which includes Vitamin D3 and Vitamin B-12, and Lil’ Critters Organic Complete Multi. These gummies are certified by the American Vegetarian Association.

Key Takeaways

Geographically, North America Adult Vitamin Gummies Market accounted for the highest revenue share in 2020 and it is poised to dominate during the forecast period 2021-2026 owing to the growing demand for nutritional products.

Growing regular consumption of nutritional products among the customers with nutritional deficiencies is propelling the demand for food supplement segment.

Health concerns associated with the overconsumption of gummy vitamins is one of the major factors which is said to reduce the growth of Adult Vitamin Gummies Market.

Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Adult Vitamin Gummies Market report.

Related Reports :

A. Gummy Vitamin Market

https://www.industryarc.com/Report/15215/gummy-vitamin-market.html

B. Vitamins And Nutrition Supplements Market

https://www.industryarc.com/Report/231/Vitamins-and-Nutrition-supplements-Market-report.html

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