The gummy market size was valued at USD 7.2 billion in 2022 and is expected to reach USD 23.4 billion by 2032, at a CAGR of 12.6%.
FORT COLLINS, Colo., April 28, 2024 (Globe Newswire) —
Rising consumer demand for convenient snack options drives market growth
of gummy market is a division of the food industry that manufactures and sells chewy gelatin-based snacks in the form of bears, worms, or fruit slices. Gummies are popular with all age groups due to their variety of flavors, interesting shapes, and simple packaging options.
Increasing customer preference for on-the-go snacking solutions is a key driver for the gummy industry. Gummies are easy to ingest and transport, making them ideal for today's customers' busy lifestyles. According to a Mintel survey, 94% of U.S. adults snack every day, and 50% snack two to three times a day. Additionally, the growing popularity of gummies as a fun and interesting snack alternative among children and youth is also contributing to the market growth.
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Segmentation overview:
The gummy market is segmented into products, ingredients, end uses, distribution channels, and regions.
Vitamins will occupy major market share in 2023
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Based on product type, gummies can be categorized into vitamins, minerals, carbohydrates, omega fatty acids, proteins and amino acids, probiotics and prebiotics, dietary fiber, CBD/CBN, psilocybin/psychedelic mushrooms, and melatonin. Vitamin gummies dominated the market and accounted for a significant portion in 2023. The increasing prevalence of vitamin deficiencies has increased the consumption of vitamins, especially vitamins C and D, driving the market expansion.
Increasing consumption of gummy supplements among adults has propelled the market growth.
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Depending on the application, the market is divided into adults and children. Adults (men, women, pregnant women, and the elderly) accounted for the highest revenue share. This sector has dominated the market due to lifestyle changes, balanced diets, and increasing awareness of digestive health. Gummies are a delicious alternative to typical pills for people who have difficulty managing their medications. According to The Nutrition Business Journal, adult gummies account for 65% of all vitamin gummies. As a result, the intake of gummy supplements has increased among adults, driving market growth. Furthermore, with the new coronavirus infection putting emphasis on strengthening immunity, demand for gummy supplements that help improve immunity has increased.
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Highlights of the Gummies Market Report:
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Continuous innovation in product formulation and packaging offers great potential for growth in the gummy segment. Manufacturers are focusing on developing gummy products with lower sugar content, natural ingredients, and functional benefits to keep up with changing consumer preferences. For example, the use of sugar substitutes such as stevia and xylitol in gummy formulations is gaining popularity. Additionally, the use of new packaging options such as resealable pouches and single-use packs is expected to increase the convenience and portability of gummy products, accelerating market expansion.
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Notable players in the Gummies market report include Procaps Group, Santa Cruz Nutritionals, Amapharm, Herbaland Canada, Allseps Pty. Ltd., Vitux AS, Boscogen, Inc., Bettera Brands, LLC, NutraStar Manufacturing Ltd., Better Nutritionals, Prime Includes Health. Ltd., AJES Pharmaceuticals LLC, Lactonova, SMPNutra.com, Lexicare Pharma Pvt. Ltd., Superior Supplement Manufacturing, Well Aliments, Supplement Factory Ltd., Vitakem Nutraceutical, Inc.
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