Gummy vitamins are continuing to gain traction, according to a new report from Albany, N.Y.-based research firm Transparency Market Research.
The global gummy vitamin market is set to grow at a compound annual growth rate (CAGR) of 5.2 percent over the next eight years, reaching $4.17 billion by 2025, the report says. That’s up from $2.68 billion in 2016.
Originally designed as dietary supplements for children unable to take them in pill form, gummy vitamins have also become popular among adults for their visual appeal, flavor variety and easy consumability.
Multivitamins account for the largest share of the market, and the segment will continue to be supported by a comprehensive supply chain and distribution management, superior production facilities and innovative product offerings. The single-vitamin segment -- which includes supplements for biotin, vitamin C, omega & DHA, CoQ10, vitamin D, melatonin and high-fiber formulas -- is also projected to grow at a healthy clip due to demand for vitamin D supplements among all age groups and rising usage of omega-3 DHA among pregnant women.
However, risk and side effects related to overconsumption of gummy vitamins is the major restraining factor for growth of gummy vitamins market. Nonetheless, increasing interest in longevity has led to rising demand for dietary supplements among consumers.
Geographically, North America occupies the largest share of the global gummy vitamins market. Health-conscious adults and the elderly, who want to up their daily nutrient intake, have boosted the market in the region, which is expected to grow to $1.64 billion by 2025.
Europe trails North America in the gummy vitamins, but rising demand for the product and innovations in the gummy vitamins formulations are also stoking growth. However, strict regulations pertaining to gummy vitamins supplements in Europe may act as a roadblock.
In terms of growth rate, the Asia-Pacific region is projected to record a CAGR of 3.8 percent from 2017 to 2025, due to robust demand for vitamins and dietary supplements from developing countries in the region.
Some of the prominent players in the global gummy vitamins market are ABH Labs, LLC; Boli Naturals LLC; Vitakem Nutraceutical Inc.; Ferrara Candy Co.; Gimbal Brothers, Inc.; Melrob Group; Makers Nutrition, LLC; Nutra Solutions USA; Contract NUTRA; Ernest Jackson; Bayer AG; and Sirio Pharma.