Market Overview and Growth Factors:
Global Gummy Vitamins Market That Predicts Growth For This Market Between 2017 And 2023. In terms of cash, the market that is worth the USD 271.2 mn in 2017 is expected to be worth the USD 405.5 mn in 2023.In the Food & Beverages industry, the number of health supplements is ample, and their market is huge. The flavors and marketing that makes one health supplement stand out among the others. Therefore, Gummy Vitamins are gaining popularity as they are chewable like chewing gums. Gummy vitamins contain essential vitamins and minerals providing proper nutrition to the human body, provided the dosage is right. Market Research Future (MRFR) has published a research report regarding. The key factors driving the growth of gummy vitamins market include a growing number of athletes and health-conscious consumers, growing awareness of intake of dietary supplements for nutritional requirements fuels demand, and use of sugar-free fiber ingredients. However, the market growth can hit breaks due to the side effects resulting from overconsumption.
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The key players in the global gummy vitamins market include ABH Labs LLC, Bayer AG, Boli LLC, Contract NUTRA, Ernest Jackson, Ferrara Candy Company, F.Hunziker + Co AG, Gimbal Brothers Inc., Makers Nutrition LLC, Melrob Group, Nutra Solutions USA, Santa Cruz Nutritionals, Sirio Pharma, Softigel, and Vitakem Nutraceutical Inc.
The global gummy vitamins market has been segmented on the basis of basis of age group, distribution channel, product type, and lastly, region. Based on the age group, this market has been segmented into 1-5, 6-18, and above 18. As per distribution channels, the market has been segmented into store-based and non-store-based. The store-based distribution channel has been sub-segmented into convenience stores, specialty stores, supermarkets & hypermarkets, and others. On the basis of product type, the market has been segmented into single vitamins and multivitamins. Single Vitamins have been sub-segmented into Biotin, Vitamin C, Omega & DHA, and others.
The regional segmentation of the global gummy vitamins market segments the market into continent-based regional markets known as North America, Europe, Asia Pacific, and the Middle East & Africa (MEA). North America is the largest regional market. The factors driving the market growth in this region include large number health-conscious people in this region, the research and development (R&D) along with investment on the production of new gummy vitamins and the presence of several key market players in North America. The primary country-specific markets in this region are the United States of America (USA), Canada and Mexico. Many key market players are based in the USA.
Europe is another important regional market due to the high density of population and a large number of health conscious people in this region. In this region, the significant country-specific markets are France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe. During the forecast period, Asia Pacific has the potential to emerge as the fastest growing market due to high demand as well as sales of health supplements in this region. The major country-specific markets in this region are Australia, China, India, Japan, and New Zealand.
The RoW segment covers Latin America and the Middle East & Africa (MEA). In Latin America, Argentina and Brazil have strong economies, and they might emerge as big markets in the future. The MEA region shows limited market slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of technological development, lack of education, political instability, poor access to treatment, poor healthcare facilities, and healthcare not considered a priority by most governments.
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