Multivitamin Gummies Market to Grow with a CAGR of 10.91% through 2028
Increased health consciousness, convenience, accessibility, and targeted
formulations are expected to drive the Global Multivitamin Gummies Market
growth in the forecast period, 2024-2028.
According to TechSci Research report, “Multivitamin Gummies Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2028”, the Global Multivitamin Gummies Market stood at USD 5.08 billion in 2022
and is anticipated to grow with a CAGR of 10.91% in the forecast period,
2024-2028. This can be attributed to a health crisis response. The COVID-19
pandemic underscored the importance of a strong immune system and overall
health. This health crisis heightened awareness about the significance of
maintaining a robust defense against illnesses. Many consumers turned to
multivitamin gummies as a convenient and accessible way to support their immune
health during these challenging times. Furthermore, consumers are increasingly
looking for transparency and authenticity in marketing. Brands that can provide
clear information about their products' sources, quality, and manufacturing
processes are more likely to gain consumer trust. Additionally, third-party
certifications and independent testing for product quality are becoming
essential for establishing credibility in the market.
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"Global Multivitamin Gummies Market”
Consumers are increasingly in search of products that not only offer
health benefits but also taste good. Many manufacturers are capitalizing on
this trend by offering a wide array of flavors for use in multivitamin gummies,
aiming to capture the interest of consumers. Additionally, growing consumer
awareness regarding nutrition and health is bolstering market demand.
Furthermore, the COVID-19 pandemic has underscored the importance of a strong
immune system and immunity-enhancing foods, resulting in a heightened demand
for gummy supplements that allow people to conveniently consume multiple
vitamins in a single dose.
Moreover, the market is benefiting from positive support from
non-governmental organizations (NGOs), government agencies, and regulatory
bodies. For instance, in June 2022, the U.S. Food & Drug Administration
(FDA) launched a new initiative called "Supplement Your Knowledge,"
which seeks to educate consumers, healthcare professionals, and educators about
the advantages of dietary supplements.
Furthermore, various manufacturers are introducing innovative gummy
formulations tailored to specific age groups and health concerns, thereby
driving demand for multivitamin gummies among the adult population. For
example, vitafusion, a brand under Church & Dwight Co. Inc., offers
products such as vitafusion multi +immune support and vitafusion multi, beauty
adult multivitamin gummies, addressing both immunity health and skin & hair
health.
The Global Multivitamin Gummies Market is segmented into source,
end-user, application, sales channel, distribution channel, regional
distribution, and company.
Based on its application, the prenatal health category held a
significant portion of the total revenue share in 2022. This can be attributed
to the increasing awareness surrounding the importance of prenatal vitamins and
nutrition, which has led to a higher demand for multivitamin supplements.
Additionally, efforts in marketing by supplement manufacturers, healthcare providers,
and medical professionals have underscored the importance of prenatal
supplementation for expectant mothers. For example, Bayer AG's product line,
One a Day, offers prenatal gummies that contain essential nutrients like
vitamin D, niacin, biotin, folate, vitamin B12, and DHA.
Looking ahead, the segment related to skin, hair, and nails is expected
to demonstrate the most rapid CAGR during the forecast period. Factors such as
the influence of social media and consumers' increased awareness of the
importance of maintaining healthy skin and hair are driving the demand for
vitamin gummies in this category. A U.S.-based company, Nature's Way, offers
multivitamin gummies for hair, skin, and nails under its Alive! Brand. These
gummies are formulated with biotin, zinc, vitamin E, vitamin C, and pectin.
Based on sales channel, the Over-The-Counter (OTC) sector emerged as the
market leader and commanded the largest share of revenue in 2022. The extensive
promotional campaigns carried out by supplement manufacturers, in conjunction
with the expansion of the e-commerce platform, are contributing to the
increased demand for multivitamin gummies via this distribution channel.
Companies operating in the gummy industry are increasingly adopting appealing
packaging and innovative designs to promote their products in smaller
convenience stores and pharmacies. Furthermore, the widespread availability of
numerous brands through online channels and user-friendly payment methods is
adding to the momentum of this segment.
Conversely, the prescribed segment is anticipated to demonstrate the
most rapid CAGR throughout the forecast period. The increase in cases of
vitamin deficiencies, coupled with the extensive marketing initiatives
undertaken by pharmaceutical companies to underscore the significance of
comprehensive nutrition, is bolstering the demand for prescribed supplements.
Major companies operating in Global Multivitamin Gummies Market
are:
- Smarty Pants Inc
- Pharmavite LLC
- Gardenlife Inc
- Olly Public Benefit
Corp
- Church & Dwight
Co., Inc.
- Nature’s Way Brands,
LLC
- MRO MaryRuth, LLC
- Bayer AG
- GNC Holdings LLC
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“The global multivitamin gummies market is evolving to meet the changing
preferences and demands of health-conscious consumers. Upcoming key trends
include personalization, clean label ingredients, functional additives,
sustainability initiatives, tech-enabled personalized nutrition, online sales,
and transparent marketing practices. As these trends continue to shape the
industry, manufacturers and brands that adapt and innovate will be
well-positioned to thrive in the dynamic and competitive landscape of the
multivitamin gummies market,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Multivitamin Gummies Market By Source (Gelatin, Plant Based Gelatin Substitute), By End-user (Adults,
Geriatric, Pregnant Women, Children), By Application (General Health, Bone
& Joint Health, Immunity, Cardiac Health, Diabetes, Skin/Hair/Nails,
Prenatal Health, Others), By Sales Channel (OTC, Prescribed), By Distribution
Channel (Offline, Online), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential
of Global Multivitamin Gummies Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
Global Multivitamin Gummies Market.
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