Global Gummy Vitamins Market is Estimated to Reach $4.5 Billion by 2025, Says Accurize Market Research
Global gummy vitamins market report published by Accurize Market Research forecast that the global market is expected to reach $4.5 billion by 2025; growing at a CAGR of 5.3% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Rising consumer demand for gummy vitamins due to diversity in taste and shape to drive the growth of the market
Increasing awareness promotions concerning preventive care, rising consumer demand for gummy vitamins due to diversity in taste and shape, and surging occurrences of undernourished and malnutrition children in underdeveloped economiesfuels the demand for the global gummy vitamins market. Moreover, arrival of innovative gummy vitamins products based on organic formulations by prominent players also boosts the growth of the market.
Market Segmentation
The global gummy vitamins market has been bifurcated on the basis of Product type, application, industry vertical, and geography. Product type segment includes single and multi-vitamin. By application, the segment is bifurcated into vitamin deficiency, weight gain, immunity, and other applications. Furthermore, the industry vertical segment includes pharmaceutical, chemical, food, and others industry verticals.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Germany, France, Italy, Russia, Spain, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
“Multi-Vitamin accounted for the largest market share in the product type segment", says Accurize
By product type segment, Multi-Vitamin accounted for the majority of the market share in 2017 and is expected to continue its tendency during the forecast period in terms of growth, owing to the quick acceptance of multi vitamins supplements and on account of the growth of new formulations of gummy vitamins, having different shape and tastes.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted the highest revenue in the global gummy vitamins market share. Also, Asia-Pacific is likely to achieve the fastest CAGR during the forecast period, owing high demand for vitamin and dietary supplements from emerging countries in the globe.
Top players in the market
The key market players include Ferrara Candy Company, Aktiv Organic, Boli LLC, VitakemNutraceutical Inc., Melrob Group, Bayer AG, Gimbal's Gummy Vitamins, ABH Pharma Inc., Nutra Solutions USA, and Makers Nutrition, LLC, among others.
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