Vitamin Chewing Gums Market to Be Valued Over USD81.09 Million by 2027
An increase in spending on
healthcare products and the growing adoption of a sedentary lifestyle are
expected to drive the global vitamin chewing gum market in the forecast period.
According to TechSci Research report, “Vitamin
Chewing Gums Market - Global Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2017-2027”, the global vitamin chewing gum market size was
valued at USD61.43 million in 2021 and is expected to reach USD81.09 million by
2027 with a CAGR of 4.93% during the forecast period. Vitamin chewing gum is a
cohesive substance mixed with sweeteners and flavorings and designed to be
chewed rather than swallowed. It contains vitamins to aid health benefits.
Consumers take vitamin chewing gum to compensate for nutritional deficiencies.
The market for chewable vitamins is expected to grow in response to an increase
in the adoption of sports as a career option. Also, the rising number of health
clubs, gymnasiums, and fitness centers and increasing awareness about health
and fitness are expected to create lucrative market growth opportunities. The
market for vitamin chewing gum is expected to grow as the trend of weight and
energy management becomes more popular among consumers. Vitamin chewing gum can
help to reduce the risk of malnutrition in consumers by providing them with the
necessary nutrients. This factor is prompting people to opt for such products.
Market players use appealing marketing strategies such as social media
campaigns and awareness camps to raise awareness among consumers regarding the
benefits of vitamin chewing gum consumption, which can impact market growth
over the forecast period.
The global COVID-19 outbreak, which has been
declared a pandemic by the World Health Organization, has disrupted the supply
chain around the world. Also, to stop the spread of the novel coronavirus, top
officials-imposed lockdown restrictions and issued a list of preventive
measures. Patients who had been infected with the coronavirus developed
shortness of breath, coughing and sneezing. The immune system was severely
harmed due to the coronavirus infection, and the body required supplement
nutrients. Therefore, post-pandemic, the market is anticipated to grow due to
the growing need to maintain a healthy lifestyle among consumers and the
increase in government initiatives supporting the production of vitamin chewing
gums.
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The global vitamin chewing gum market is
segmented based on package, distribution channel, region and company. The
market is segmented into tablets, pouches, bottles and boxes in terms of the
package. Among them, the tablet held the dominating share in the type of
packaging in the global vitamin chewing gum market, with around 50% in 2021 due
to its flexible packaging properties. It is manufactured from multiple layers
of aluminium, plastic, or other food-safe materials. The fastest-growing
package segment is the bottle in the global vitamin chewing gum market, with a
share of around 11% in 2021.
The
global vitamin chewing gum market is segregated into supermarkets and
hypermarkets, drug and pharmacy stores, online, and others (convenience stores,
departmental stores, etc.). Among these, the online segment is the
fastest-growing as it offers the convenience of choosing a plethora of products
while sitting in one place and offers timely delivery.
The
global vitamin chewing gum market is segmented into North America,
Asia-Pacific, Europe, South America, and the Middle East & Africa. North
America is the dominant region in the global vitamin chewing gums market, with
approximately 40% in 2020 due to the increasing working population and strong
purchasing power, followed by Asia-Pacific and Europe.
Key market players in the vitamin
chewing gum market include:
·
Mondelez International, Inc.,
·
Mars Incorporation
·
Perfetti Van Melle Group B.V.
·
Blockhead HQ Ltd
·
The BSD Project LLC
·
Gold Medal, Inc.
·
Liquid Core
·
Dante Medical Solutions S.r.l.
·
Wug Functional Gums SL
·
B-Fresh, Inc.
To fuel market expansion, manufacturers of the vitamin chewing gum are
increasingly focus on research and development. These manufacturers are
constantly developing innovative products to fulfill changing client demands
for greater efficiency and durability. For instance, with the growing focus
upon products that is nutrients based and supports the healthy body, product
like Mighty Gum includes reishi mushroom, elderberry (which fights inflammation
and infection), astragalus to balance the immune system and also other six
vitamins sourced from fruit.
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“The market demand is predicted to be boosted
by rising demand from e-commerce platforms and high-end investments by industry
players in creating adequate vitamin chewing gum. Factors such as availability
of many drug supply applications and websites, high internet penetration, and
the proliferation of smart devices are projected to fuel the growth of the
vitamin chewing gum market in the coming years. Customers are enticed to buy
through online channels by quick delivery options, easy returns, and the
availability of discounts.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Vitamin Chewing Gums Market - Global Industry Size, Share, Trends, Competition,
Opportunity and Forecast, 2017-2027, By Packaging (Pouch, Tablet, Bottle, Box) By
Distribution Channel (Supermarkets and Hypermarkets, Pharmacy & Drug
Stores, Online, and Others), By Region”, has evaluated the future growth potential of global vitamin chewing
gums 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 vitamin chewing gums
market.
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