Press Release

Gummy Market to Grow with a CAGR of 11.29% through 2028

Increase in the demand for healthier snacking options, convenient supplementation, and diverse taste experiences are expected to drive the Global Gummy Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Gummy Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Gummy Market stood at USD 21.32 billion in 2022 and is anticipated to grow with a CAGR of 11.29% in the forecast period, 2024-2028. This can be attributed to transparency and ingredient quality. Consumers are increasingly discerning about the ingredients used in their food products, including gummies. There is a growing demand for transparency in labeling, with consumers seeking clean, natural, and organic ingredients. Manufacturers are responding by using high-quality and natural ingredients, addressing concerns related to artificial additives and preservatives.

Moreover, the global gummy market is expanding into new regions and markets, particularly in Asia-Pacific and Latin America. As consumers in these regions embrace gummies, manufacturers are tailoring products to suit local tastes and preferences.

           

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Consumer preferences in the realm of food and supplements are undergoing a transformation. Recent years have witnessed a substantial surge in the demand for nutraceutical products. This heightened interest is primarily fueled by a growing awareness of health and concerns regarding the adverse effects of processed foods and artificial additives. Consumers are now seeking products that not only offer pleasing flavors but also provide added health advantages. This shift is particularly pronounced within the gummy industry, where individuals are actively seeking functional and fortified gummies enriched with vitamins, minerals, and other essential nutrients. The rising popularity of these gummies can be attributed to an increasing recognition of the significance of maintaining good health through proper nutrition. People are becoming better informed about the nutrients their bodies require and are on the lookout for convenient and enjoyable ways to supplement their diets.

Gummies represent an ideal vehicle for delivering various nutrients, owing to their ease of consumption and adaptability to a wide array of active ingredients. For instance, some gummies are packed with vitamins and minerals designed to bolster immune health, while others may feature essential omega-3 fatty acids crucial for heart well-being. Furthermore, certain gummies contain probiotics and prebiotics, which contribute to a balanced gut.

Manufacturers are actively developing novel delivery techniques that enable precise, timed release of active components within gummies. For example, certain gummies are engineered to gradually release their active ingredients, ensuring sustained benefits. Additionally, manufacturers continuously introduce fresh and innovative gummy formulations tailored to address specific health concerns or cater to distinct age groups. This trend is propelling the growth of the adult gummy market. As an illustration, in February 2022, Optibac Probiotics introduced a new vegan gummy supplement aimed at bolstering gut and immune health in adults. The product features a probiotic strain known as Bacillus coagulans Unique IS-2.

The Global Gummy Market is segmented into product, ingredient, end-use, distribution channel, regional distribution, and company.

Based on its end-use, the adult segment held a dominant position in the market in 2022, contributing significantly to overall revenue. Within the adult consumer category, there are further subdivisions, including men, women, pregnant women, and the elderly. The increasing demand for gummy supplements among adults is driven by the diverse health advantages they offer, such as enhancing immune function, supporting healthy aging, promoting bone health, and reducing inflammation.

Conversely, the children's gummy industry is projected to witness substantial growth with a noteworthy CAGR from 2022 to 2030. This growth is attributed to several factors, including the visual appeal of gummies, their entertaining shapes and flavors, unique texture, and effective marketing strategies. These elements collectively contribute to the popularity of gummies among children aged 2 to 14. The attractiveness of gummies for kids lies in their vibrant colors and visual allure, which naturally captivate the attention of young consumers. Additionally, gummies often come in amusing shapes and flavors, making them more enticing to children when compared to other types of candies or sweets.

Based on distribution channel, the offline distribution channel took the lead in the market in 2022. Offline avenues, which encompass supermarkets, convenience stores, and traditional retail outlets, exhibited a more extensive reach compared to their online counterparts. The prominence of gummies on the shelves of brick-and-mortar stores plays a pivotal role in establishing brand recognition and drawing in new customers.

Conversely, the online distribution channel is projected to experience remarkable growth with an impressive CAGR from 2022 to 2030. Several factors contribute to this surge in online gummy sales, including diverse promotional strategies, user-friendly payment options, and the availability of discounts and special offers. The convenience of online shopping and the ability to have products delivered directly to one's doorstep make it an appealing choice for a substantial number of customers.

 

Major companies operating in Global Gummy Market are:

  • Procaps Group, S.A.
  • Santa Cruz Nutritionals Investors LLC
  • Amapharm GmbH
  • Allsep's Pty Ltd
  • Prime Health Ltd
  • AJES Pharmaceuticals, LLC
  • Lactonova Nutripharm Pvt Ltd.
  • Lexicare Pharma Pvt. Ltd.
  • Vitakem Nutraceutical Inc
  • BOSCOGEN, INC.

 

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“The global gummy market is poised for a sweet and exciting future, driven by the upcoming key trends. As consumer expectations evolve, gummy manufacturers are rising to the occasion, offering a diverse range of innovative, health-conscious, and sustainable products. With the global appetite for gummies showing no signs of waning, these trends promise to keep consumers engaged and delighted, solidifying the position of gummies as a beloved and ever-evolving confectionery option worldwide,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Gummy Market By Product (Vitamins, Minerals, Carbohydrates, Omega Fatty Acids, Proteins & Amino Acids, Probiotics & Prebiotics, Dietary Fibers, CBD/CBN, Psilocybin/Psychedelic Mushroom, Melatonin, Others), By Ingredient (Gelatin, Plant-based Gelatin Substitutes), By End-Use (Adults, Kids), By Distribution Channel (Offline, Online), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Gummy 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 Gummy Market.

 

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