Enjoy complimentary customisation on priority with our Enterprise License!
The global adult vitamin gummies market size is estimated to grow by USD 2.75 billion at a CAGR of 8.45% between 2023 and 2028.
Adult vitamin gummies market Share
For More Highlights About this Report, Download Free Sample in a Minute
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
High demand for on-the-go dietary supplements is a key driver boosting the market growth.The growing focus on health has led consumers to seek nutritionally beneficial foods and products containing essential nutrients for disease prevention and well-being. Increased awareness globally, particularly among the aging population, has fueled a preference for vitamin-infused products in the dietary supplements industry. This trend has prompted manufacturers to introduce various vitamin-enriched products.
Furthermore, the demand for convenient vitamin-based products has risen, driven by busy schedules for Millennials and challenges with pill consumption among the elderly. Chewable vitamin gummies, resembling candies, provide an on-the-go solution with an appealing taste. This appeals to those avoiding traditional supplements with strong tastes, and the higher quantity of multivitamins in gummy formulations promotes consumer adoption for their convenience.
The growing popularity of e-commerce channels is the primary trend shaping market growth. E-commerce enables consumers to access regional and global brands of adult vitamin gummies. The noteworthy upgrade in the number of e-commerce players across the globe is fueled by the raised penetration of smartphones across the world. Online retailers such as Amazon.com and vitacost.com provide specialized portals that help customers shop for health-related products and supplements such as adult vitamin gummies.
Furthermore, the online sales of adult vitamin gummies have noticed high growth over the past decade due to actions by retailers and manufacturers to educate customers, simplify the online retail process, provide better aftersales services, and undertake targeted marketing campaigns. Hence, such factors are expected to drive the growth of the global adult vitamin gummies market during the forecast period.
The high cost of production of adult vitamin gummies is a challenge that affects market growth. The fact that raw materials for naturally derived vitamins are not readily available, which results in higher production costs compared with synthetic vitamins, has also contributed to the increasing popularity of synthetic vitamins among gummy vitamin producers. Most synthetic vitamins are produced from petroleum extracts or coal tar derivatives, which serve as low-cost raw materials. Even though naturally- sourced vitamins are witnessing an increase in preference among consumers, their manufacturing is associated with high production costs and investments.
Moreover, the formulation of a vitamin gummy supplement infused with additional nutrients, flavors, and colors is relatively complicated and costly when compared to manufacturing the same in tablet or capsule form. This, in turn, leads to additional costs of production, which further leads to premium pricing for adult vitamin gummies. Hence, fluctuations in the availability of raw materials are projected to impact the pricing of gummy vitamins for adults, which will impede the growth of the market during the forecast period.
The application segment includes vitamin deficiency, food supplements, and others. The distribution channel segment includes offline and online. The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW).
The market share growth by the vitamin deficiency segment will be significant during the forecast period. The vitamin deficiency segment refers to the demand for vitamin gummies that precisely target adults diagnosed with a lack of vitamins. These deficiencies can happen due to various factors, such as poor dietary choices, certain medical or health conditions, limited exposure to sunlight, or lifestyle choices that restrict nutrient intake. Due to the significance of vitamins in maintaining health, the demand for adult vitamin gummies is increasing.
Get a glance at the market contribution of various segments Download the PDF Sample
The vitamin deficiency segment was valued at USD 2.01 billion in 2018. Furthermore, several adult vitamin gummies market players provide multivitamin tablets, which contain all kinds of vitamins and minerals, especially for adults. Thus, the availability of multivitamin supplements in the form of adult gummies, which can be consumed daily, is anticipated to drive the growth of this segment during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The North American adult vitamin gummies market is primarily driven by robust demand in the US, followed by Canada and Mexico. Developed countries, especially the US and Canada, witness a heightened interest in maintaining a healthy diet, driven by nutritional awareness and extensive promotional efforts. The US, in particular, shows high penetration of adult vitamin gummies, with popular choices including multivitamins, calcium and vitamin D supplements, and omega-3 fatty acids, favored by the aging Baby Boomer population focused on healthy aging.
Anticipated growth in the consumption of adult vitamin gummies is fueled by increasing awareness among Millennials about nutrition and wellness, with a trend towards seeking convenient and enjoyable ways to incorporate essential vitamins and minerals into daily diets. Consumers in the region prefer online channels for procuring adult vitamin gummies due to high internet and smartphone penetration, allowing for easy product comparison. Moreover, the rise of self-directed customers relying on online sources for nutritional information is notable. This shift towards preventive measures, including the consumption of essential vitamins and supplements, is evident. The adoption of physical training, restricted diets, and additional nutrition products is on the rise. The emerging concept of personalized dietary supplements tailored to individual requirements and lifestyles is a significant driver for the US adult vitamin gummies market, contributing to the regional market's growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aesthetic Nutrition: The company offers adult vitamin gummies such as The beach body gummies, Beard gummies, and Jaw dropping skin gummies.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
|
Adult Vitamin Gummies Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
153 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 8.45% |
|
Market growth 2024-2028 |
USD 2.75 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
8.02 |
|
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
|
Performing market contribution |
North America at 41% |
|
Key countries |
US, South Korea, Germany, Italy, and China |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Aesthetic Nutrition, Amway Corp., Bayer AG, Catalent Inc., Church and Dwight Co. Inc., DCC Plc, GlaxoSmithKline Plc, Herbaland Gummies, Hero Nutritionals LLC, Makers Nutrition LLC, Mondelez International Inc., Mr. Gummy Vitamins LLC., Natures Bounty, Nestle SA, Nutra Solutions USA, Otsuka Holdings Co. Ltd., SCN Bestco, The Honest Co. Inc., Unilever PLC, and Rainbow Light |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
