Gummy Market Revenue to Cross USD 6.7 billion by 2031, Growing at CAGR 6.1%| Exclusive Report by Transparency Market Research, Inc.

Advertisement

Supplement awareness and health benefits are expected to drive the demand for gummies.

Wilmington, Delaware, United States, Dec. 07, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global gummy market was valued at US$ 3.7 billion in 2021. A CAGR of 6.1% is forecast for the period 2021 to 2031. By 2031, the worldwide gummy market will reach US$ 6.7 billion. A constant focus on innovation has increased the market for shapes, flavors, and formulations. Probiotics, collagen, and herbal extracts are some of the functional ingredients that manufacturers have been incorporating into gummies.

Vitamins, adaptogens, minerals, and other health-promoting ingredients could be incorporated into gummy formulations. Consumers are increasingly seeking products that offer benefits and appeal in the fast-growing health and wellness market.

Advertisement

Personal nutrition will likely become more popular due to the health and wellness trend. Gummy manufacturers increasingly offer vitamin and supplement options in response to the need for customization.

Download Sample PDF of this Strategic Report@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=83171

Manufacturers are launching limited-edition and seasonal flavors during special occasions can drive sales and create excitement. With customization options, brands can offer customers a wide selection of flavours and textures. As a result, customers will have a unique and personalized experience.

Key Findings of Market Report

  • Globally, plant-based gummies held a 72.2% share of the gummy market in 2021.
  • Berry-flavored gummies account for a market value of 41.8% during the forecast period.
  • With a market share of 34.9%, the Vitamin and Dietary Supplements (VDS) segment leads the market in terms of functionality.
  • Consumers mostly purchase gummies from convenience stores and hypermarkets/supermarkets. These segments account for over 55% of the overall gummy market.
  • Globally, North America and Europe account for more than 50% of the gummy share in the market.

Global Gummy Market: Growth Drivers

  • Food choices that are healthier and more natural are becoming increasingly popular. Consumers who are health-conscious seek out gummies that contain natural ingredients, less sugar and are infused with vitamins or other beneficial elements.  Several effective marketing strategies, including influencer partnerships and social media campaigns, have contributed to the success of gummy products. Since consumer-oriented brands concentrate on taste and health benefits, they tend to emphasize them in their branding efforts.
  • The convenience of taking vitamins and supplements has never been greater than with gummies. The ease of consumption and lack of additional accessories for gummies make them an excellent choice for on-the-go consumers. In recent years, gummy products have been developed that cater to a variety of age groups. With the popularity of adult gummies with specific health benefits, the market has expanded beyond traditional children’s products.
  • With the growing popularity of health-conscious products, consumers are increasingly looking for products with health benefits. As plant-based diets become more prevalent, vegan and vegetarian gummies have become more popular. As a response, manufacturers have created gelatin-free gummies in the market. Consumers can now directly interact with gummy manufacturers through e-commerce platforms. Providing a marketing and promotional platform, online sales channels are easy to access.

Customize this report according to your needs@ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=83171

Global Gummy Market: Regional Landscape

  • North America is estimated to dominate the gummy market in terms of revenue share. Manufacturers are stepping up their research and development to improve gummy formulations as consumers become more aware of market-tested products. Gummy sales in North America are expected to benefit from rising e-commerce sales and the availability of a wide range of gummies online.
  • A significant growth has been observed in the gummy supplement industry in the United States. Gummy supplements account for 14% of all sales of supplements in the United States, according to a report published by the Council for Responsible Nutrition. Various flavours and shapes of gummy candies make them popular with consumers of all ages.
  • Consumers are seeking healthy snack alternatives, like organic gummies and vitamins in gummy form. New and unique flavors are constantly being sought by consumers in order to satisfy their cravings.

Global Gummy Market: Key Players

Gummy manufacturers focus on introducing new products and keeping up with market trends. Market players are focusing on product innovation, expansion and mergers.

  • Church & Dwight & Co. Inc.
  • Schwabe Group
  • Herbaland Naturals, Inc.
  • Unilever
  • Zanon USA Inc.
  • Hero Nutritionals
  • Otsuka Pharmaceutical Co. Ltd.
  • Bayer AG
  • Pfizer Inc.
  • Rainbow Light
  • DSM
  • Lexicare Pharma Pvt. Ltd.
  • Nestle S.A.
  • IM Healthcare
  • Solistaa Pharmaceuticals Pvt. Ltd.
  • Vitabiotics
  • Lactonova
  • Chubears
  • Baidyanath Group
  • PipingRock Health Products, LLC

Key Developments

  • In November 2023, Ouka Manuka Honey Gummies, a new product from Starpowa, became the world’s first gummy with 525MGO+ of manuka honey, delivering the benefits of this natural ingredient in a convenient, tasty and easy manner. With the first batch selling out in just five minutes, this product has already proven to be a hit with shoppers.
  • In November 2023, At the Food Ingredients Europe (FiE) trade show, Gelnex and Rousselot demonstrated the technological advances, scientific support, and new product concepts planned for collagen and gelatin.

Global Gummy Market: Segmentation

By Source

  • Plant-based
  • Animal-based

By End User

  • Children
  • Zillenials
  • Millenials
  • Adults

By Flavor

  • Citrus
  • Berries
  • Tropical Fruit
  • Other Flavors

By Functionality

  • VDS
  • Healthy Weight
  • Sports Nutrition
  • Brain Health
  • Immunity
  • Better Sleep

By Sales Channel

  • Hypermarkets/ Supermarkets
  • Departmental Stores
  • Convenience Stores
  • Drug & Specialty Stores
  • Online Retail
  • Other Retail Formats

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

Enquire Before Buying@ https://www.transparencymarketresearch.com/checkout.php?rep_id=83171&ltype=S

Browse More Reports by TMR:

Vegan Chocolate MarketThe global vegan chocolate market was valued at US$ 532.7 Mn in 2022. It is estimated to grow at a CAGR of 10.5% from 2022 to 2032. The global vegan chocolate market is expected to reach US$ 1444.7 Mn by the end of 2032.

Seaweed Extract MarketThe global seaweed extracts market was valued at US$ 1.7 Bn in 2022 and is projected to grow at a CAGR of 5% from 2022 to 2032.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com   
Blog: https://tmrblog.com   

Email: [email protected]

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.