Global Adult Vitamin Gummies Market Report, Insights and Trends, Positive and Negative Factors, Areas to Focus on, Potential Markets, Key Developments, Segments and Verticals, and Forecast 2019 – 2028
“Global Adult Vitamin Gummies Market Insights, Consumer Trends, Applications, Global Growth Rate and Forecast 2019 – 2028” is one of the latest reports created by MarketResearch.biz research team. The global adult vitamin gummies market report has been segmented on the basis of product type, and region.
Adult Vitamin Gummies: Overview
Vitamin gummies are chewable vitamins or dietary supplements similar to candies however they are nutrients-enriched and are available in a wide variety of colors, flavors, and shapes. Vitamin gummies contain higher content of sugar as compared to that in the regular tablets. These gummies are formulated for children as well as adults who cannot or do not want to swallow pills.
Factors Driving Growth of the Adult Vitamin Gummies Market
Increasing awareness regarding availability and health benefits of adult vitamin gummies and its consumption among individuals across various countries and constant introduction of enhanced products are major factors driving market growth to a significant extent. In addition, fluctuating eating patterns due to unlovingness towards certain foods and rising preference for ready-to-eat fast food, especially among working population, and hectic work life globally could result into limited intake of proper food and low intake of required vitamins. This can lead to vitamin deficiency in the body and can have hazardous side-effects in the long run such as improper functioning of digestive system. These are some additional factors projected to propel market growth.
Demand and adoption of multi-vitamin gummies is projected to grow at a significant rate over the 10-year forecast period as these vitamin gummies help fill the gaps in the body in terms of vitamins and other micro-nutrients required by the body, which an individual may not get by consuming daily diet. Single-vitamin gummies are prescribed to an individual who is suffering from a particular vitamin deficiency or disorder. These adult vitamin gummies are recommended by the National Institutes of Health, US, for a specific group of people which may include pregnant women as well.
Higher consumption of food supplements such as adult vitamin gummies among individuals as a result of rising product awareness, growing number of marketing and advertising activities on e-Commerce and social media platforms is a factor estimated to positively impact growth of the adult vitamin gummies market over the next 10 years. Adult vitamin gummies have antioxidant properties to protect cells from damaging and thus help in maintaining a healthy immune system of the body. In addition, growing pharmaceutical industry in developed as well as developing countries, and rising consumer demands are projected to compel healthcare companies to expand their product portfolio by launching new nutraceutical products. Growing trend of purchasing from e-Commerce sites offers huge revenue potential for companies in the target market to increase their profitability as operating cost is low. For instance, India-based Aesthetic Nutrition Pvt. Ltd. company, launched new product to prevent hair fall named ‘power gummies’. The company sells its products via online platforms including Amazon, Healthkart Netmeds, and Nykaa. Moreover, key players in the global adult vitamin gummies market are highly focused on production of products with enhanced nutrient value.
Rising vegan population across the globe, coupled with rising focus of major companies in development and launch of vegan gummies in order to attract vegan population is projected to boost the market growth over the 10-year forecast period. For instance, companies such as Surf Sweets and Zanon Vitamec introduced vegan gummies for targeting vegan consumers. Increasing focus of healthcare companies to focus on regions such as Africa where the number of malnourished adults is inclining is expected to result in goodwill for the company, increase brand visibility and gain higher customer base share in the global market.
However, possible side-effects such as diarrhea, constipation or stomach upset, and stringent government regulations are factors that could hamper the market growth. In addition, gummies are easily available at retail stores as well as e-commerce websites and are not sold under any medical prescription. Hence, overconsumption of adult vitamin gummies or wrong vitamin gummies may result in several side effects or increase in level of one particular vitamin. These are major factors that could challenge global adult vitamin gummies market growth.
Adult Vitamin Gummies Market: Analysis by Segments
Product Type Segment Analysis:
Among the product type segments, the multi-vitamin segment is estimated to dominate in the global adult vitamin gummies market. Multi-vitamins, mostly consumed by adults and millennials, have essential nutrients such as folic acid, niacin (vitamin b3), inositol, zinc, iodine, and choline as well as fat-soluble vitamins. Multi-vitamins are mainly preferred for gaining better metabolic health, weight control, and improved immunity. The single vitamin segment is projected to record substantial revenue share in the market owing to high demand for single-vitamin gummies by individuals suffering from a type of vitamin deficiency as a result of improper diet.
Application Segment Analysis:
Among the application segments, the food supplements segment is estimated to record the highest revenue share in the market. Most of the products are consumed as food supplements in order to correct the nutritional deficiency. Revenue from the weight management segment is projected to grow at a higher rate. Increasing awareness regarding weight management among the people is expected to boost growth of the weight management segment in target market over the 10-year forecast period.
Global Adult Vitamin Gummies Market: Regional Markets Insights
North America (NA) market is estimated to record the highest revenue share in the global adult vitamin gummies market and is projected to continue with its dominance over the 10-year forecast period. Key factors including rising health concerns regarding prevalence of chronic diseases, coupled with increasing preference towards healthier lifestyles and in developed countries in the NA market are expected to drive growth of the market in the region. The Asia Pacific market is projected to witness the fastest growth rate over the 10-year forecast period due to changing consumption patterns, easy availability of vitamin gummies, increasing affordability, rising health consciousness among individuals are factors boosting the market growth in the Asia Pacific. Revenue from the Europe market is estimated to expand at a high rate over the 10-year forecast period, owing to rising trend of online shopping and preference for vitamin gummies over pills or drugs in countries in the region.
Global Adult Vitamin Gummies Market Segmentation:
Segmentation Based on Products
- Single Vitamins
- Type III & Others
Segmentation Based on Application
- Food Supplements
- Vitamin Deficiency
- Weight Management
Segmentation by Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Pfizer Inc.
- Church & Dwight Co., Inc.
- Bayer AG
- Pharmavite LLC
- Bettera Brands, LLC
- Doctors Best
- Herbaland Naturals Inc.
- Hero Nutritionals
- Olly Public Benefit Corp.
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