NEW YORK, Sept. 15, 2021 /PRNewswire/ -- Findings from Market Research Store report "Adult Vitamin Gummies Market - By Product (Single Vitamins, Type III, Multi-Vitamins, and Others), By Application (Immunity, Vitamin Deficiency, Food Supplements, Weight Management, and Others), By Sales Channel (Food Specialty Stores, Hypermarkets, Convenient Stores, Supermarkets, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global demand for adult vitamin gummies market in 2019 was approximately USD 4,000 Million. The market is expected to grow at a CAGR of 8.5% and is anticipated to reach around USD 7,000 Million by 2026.
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Adult vitamin gummies are used by people to cure or avoid vitamin deficiencies caused by diseases or a healthy diet, while pregnant women take them. It is intended for the body's building blocks, which help in the preservation of good health. The tablets should be chewed rather than eaten as a whole pill, which increases their consumer demand. Ruby, raspberry, lemon, and cherry are some of the most common varieties. Gummy vitamins are nutrient-fortified chewable food supplements that taste like sweets. These were created for children who refused to take pills, but due to their appealing appearance and ease of digestion, they became common among adults as well. Furthermore, they are easy and provide the bulk of the nutrients that a human body needs. Immune conditions, vitamin deficiency, and poor bone strength are all things that these drugs can help with. In the coming years, these drugs are expected to be a beneficial neutraceuticals commodity segment. They are likely to gain popularity among working-class people due to their role as a key ingredient in promoting metabolic wellbeing and controlling the glycemic index and folic acid count in the body.
The growing importance of e-commerce platforms as a selling medium is expected to help the industry, as they serve as a platform for retailers to offer services alongside finished products. More customers are shopping online rather than in physical shops due to the convenience of online purchases such as debit card payment or debit and home delivery. Furthermore, the booming pharmaceutical industry in developing economies such as China and India is expected to enable healthcare firms to broaden their product offerings by launching new nutraceuticals products. Adult gummies are projected to rise in popularity as a result of increased awareness of a vegan diet by adults as a result of supplement manufacturers' robust brand promotions on e-commerce channels and television. Growing consumer demand for gummy vitamins due to their range of shape and flavor and influential players introducing fresh organic formulated gummy vitamins are all contributing to market growth. However, various side effects of these vitamin gummies on the human body such as constipation and other digestion-related issues, along with the observation period, the high costs associated with such vitamins are likely to stifle market development.
Furthermore, volatility in the supply of raw materials is expected to be another factor that will obstruct demand growth during the study period. Nevertheless, manufacturers of gummy supplements are concentrating on producing gummy vitamins with distinct tastes, which is expected to grow the demand during the evaluation period. The growing development of exotic flavors such as cola, peach, and strawberry is expected to be another important opportunity for the region's industry. To ensure enough health benefits, some suppliers use a high quantity of particular vitamins, resulting in an inadequate intake of nutrients. Excessive nutrient consumption will result in human health problems, which may pose a major challenge to the market during the forecast period.
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Based on product segmentation, the adult vitamin gummies market is divided into single vitamins, type III, multi-vitamins, and others. The multivitamins are expected to hold the maximum market share as adults and millennials are the main buyers of these goods. These contain vitamins A, C, D, E, B5, B6, B12, and H as well as essential nutrients including zinc, niacin (Vitamin B3), inositol, folic acid, iodine, and choline. These nutrients are favored for weight management, enhanced metabolic health, and increased immunity. On the basis of sales channels, the market is bifurcated into food specialty stores, hypermarkets, convenient stores, supermarkets, and others. The segment of hypermarkets is also predicted to share maximum market share as it has high volume sales compared to other mediums of the sales channel. Based on the application, the market is split into immunity, vitamin deficiency, food supplements, weight management, and others. The segment of food supplements is anticipated to hold the maximum share as the majority of the drugs are taken as supplements to help remedy dietary deficiencies and ensure proper care for the human body.
The adult vitamin gummies market is predicted to be dominated by North America. A trend toward healthier lifestyles, along with rising consumer health issues about chronic diseases, is expected to play a key role in rising dietary needs in developed markets such as the United States and Canada. The rising buying power of customers is also expected to drive the demand in the Asia Pacific region. The area includes untapped business prospects that are projected to expand the regional market in the immediate future. Other significant factors that are expected to expand the market in the area during the study period include growing investments by renowned players and ongoing economic growth. Furthermore, the rising risks of chronic disease and vitamin deficiencies in the population are expected to play a key role in the regional market's growth.
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Some of the major key players operating in the global adult vitamin gummies market are Bayer AG, Hello Bello, Bettera Brands, LLC, vitafive, Church & Dwight Co., Inc., SmartyPants Vitamins, Doctors Best, Pioneer Life Sciences, FoodState Nature's Way Products, LLC., Herbaland Naturals Inc., Pharmavite LLC., Hero Nutritionals, Pfizer Inc., IM Healthcare, Perrigo Company plc, Nutrition, LLC., Olly Public Benefit Corporation, Mr. Gummy Vitamins, and Others. For instance, In April 2019, Vitafusion released new gummy vitamin product ranges, including organic gummy supplements. The series is targeted at adults and has a high nutritious benefit. It can come in a range of varieties, based on the ingredients used. The ingredients include carrot, organic turmeric, and annatto. In the industry, the firm will be able to expand its product line.
This report segments the global adult vitamin gummies market as follows:
Global Adult Vitamin Gummies Market: By Product Segmentation Analysis
- Single Vitamins
- Type III
- Multi-Vitamins
- Others
Global Adult Vitamin Gummies Market: By Application Segmentation Analysis
- Immunity
- Vitamin Deficiency
- Food Supplements
- Weight Management
- Others
Global Adult Vitamin Gummies Market: By Sales Channel Segmentation Analysis
- Food Specialty Stores
- Hypermarkets
- Convenient Stores
- Supermarkets
- Others
Global Adult Vitamin Gummies Market: Regional Segmentation Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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