Gummy Vitamin Market by Distribution channel and Geography - Forecast and Analysis 2022-2026
| Published: Jan 2022 | Pages: 120 | SKU: IRTNTR72227 |
The gummy vitamin market share is expected to increase by USD 5.06 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.54%. This report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
This gummy vitamin market research this report extensively covers market segmentation by distribution channel (online and offline) and geography (APAC, North America, South America, Europe, and MEA).
What will the Gummy Vitamin Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Gummy Vitamin Market Size for the Forecast Period and Other Important Statistics
The gummy vitamin market report also offers information on several market vendors, including Amway Corp., Bayer AG, Church and Dwight Co. Inc., GlaxoSmithKline Plc, Hero Nutritionals Inc., Honest Co. Inc., Nestle SA, Pharmavite LLC, Power Gummies, and Unilever Group among others. Gummy vitamins are commonly made from gelatin corn starch, water, sugar, and added colorings. Popular flavors include lemon, raspberry, cherry, and orange.
Gummy Vitamin Market: Key Drivers, Trends, and Challenges
The high demand for on-the-go dietary supplement products is notably driving the gummy vitamin market growth, although factors such as the high cost of production may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the gummy vitamin industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Gummy Vitamin Market Driver
One of the key factors driving the global gummy vitamin market growth is the high demand for on-the-go dietary supplement products to prevent possible diseases and improve physical and mental well-being. Moreover, the increase in the aging population and the rise in consumer awareness have boosted the consumer preference for products with healthy ingredients such as vitamins. Furthermore, millennials are witnessing busier work schedules, and the increasing geriatric population is experiencing problems with pill consumption. Due to these factors, consumers in the market are witnessing a high demand for convenient vitamin-based products that can be taken on the go and are easy to consume, such as easy to chew instead of swallowing. Gummy vitamins help address these problems and provide consumers with on-the-go consumption characteristics, along with ease in consumption, as they are chewable candies. Thus, the increase in demand for these supplements is further expected to drive the demand for gummy vitamins during the forecast period.
Key Gummy Vitamin Market Trend
Another key factor driving the global gummy vitamin market growth is the availability of gummy supplements for children. Parents are resorting to easily chewable nutraceutical products available in different formats, shapes, and flavors, such as gummy supplements that come in many attractive shapes, such as bears, fruits, and flowers. Furthermore, rising awareness among parents regarding the nature of the vitamin supplements they are giving to their kids is the main factor for the growth of the kids' gummies. Moreover, companies are providing organic ingredient-based gummy supplements for children to expand their customer base. For instance, in August 2021, Nature's Truth expanded its line of vitamin gummies with three products focused on children's needs. Such factors are expected to positively impact the market in focus during the forecast period.
Key Gummy Vitamin Market Challenge
One of the key challenges to the global gummy vitamin market growth is the high cost of production due to the low availability of raw materials for naturally-sourced vitamins. Operational hindrances in the availability of raw materials in the recent past have resulted in interference with the efficient supply of vitamins A and E. In addition, the formulation of a gummy supplement infused with additional nutrients, flavors, and colors is relatively complicated and costly as compared to formulating tablets or capsules. This, in turn, leads to the additional costs of production, which further leads to the premium pricing of gummy vitamins as compared to the conventional vitamin dietary supplements in the form of tablets, capsules, or pills. Hence, fluctuations in the availability of raw materials are projected to impact the pricing of gummy vitamins, which will hamper the market growth during the forecast period.
This gummy vitamin market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global gummy vitamin market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the gummy vitamin market during the forecast period.
Who are the Major Gummy Vitamin Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Amway Corp.
- Bayer AG
- Church and Dwight Co. Inc.
- GlaxoSmithKline Plc
- Hero Nutritionals Inc.
- Honest Co. Inc.
- Nestle SA
- Pharmavite LLC
- Power Gummies
- Unilever Group
This statistical study of the gummy vitamin market encompasses successful business strategies deployed by the key vendors. The gummy vitamin market is fragmented and the vendors are deploying growth strategies such as marketing on social media platforms and new product launches to compete in the market.
Product Insights and News
- Amway Corp. - The company offers Nutrilite SEIZE THE DAY undernutrition which is a multivitamin-mineral gummy.
- Amway Corp. - Through the beauty segment, the company offers personalized solutions with skincare, color, and makeup products under the brand Artistry.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The gummy vitamin market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Gummy Vitamin Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the gummy vitamin market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global packaged foods and meats market includes the following core components:
- Inputs
- Inbound logistics
- Primary processing
- Secondary and tertiary processing
- Outbound logistics
- End-customers
- Marketing and sales
- Service
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Gummy Vitamin Market?
For more insights on the market share of various regions Request for a FREE sample now!
38% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for gummy vitamins in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The presence of a large consumer base that is increasingly paying attention to their health in countries such as China and India will facilitate the gummy vitamin market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
However, the outbreak of the COVID-19 crisis impacted the overall gummy vitamin industry in 2020, as many stores were shut down or reduced their business hours. For instance, Walmart announced that it would modify its store hours in response to the pandemic, while other retailers planned to temporarily close their stores. However, due to factors such as vaccination drives and an increase in online shopping for these products, the market is expected to recover during the forecast period.
What are the Revenue-generating Distribution Channel Segments in the Gummy Vitamin Market?
To gain further insights on the market contribution of various segments Request for a FREE sample
The gummy vitamin market share growth by the online segment will be significant during the forecast period. The increase in the number of websites offering a wide range of gummy vitamins at low cost than those available offline will drive the market growth through the online distribution channel. Vendors such as Amway offer their gummy vitamins through their own websites. Vendors are involved in the omnichannel retailing format to expand their visibility among customers, which will also help in increasing their revenue.
This report provides an accurate prediction of the contribution of all the segments to the growth of the gummy vitamin market size and actionable market insights on post COVID-19 impact on each segment.
You may be interested in:
Vitamin E market - The market share is expected to increase by USD 548.3 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.79%.
Vitamins market - The market size has the potential to grow by $28.04 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.
|
Gummy Vitamin Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 12.54% |
|
Market growth 2022-2026 |
$ 5.06 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
11.38 |
|
Regional analysis |
APAC, North America, South America, Europe, and MEA |
|
Performing market contribution |
APAC at 38% |
|
Key consumer countries |
US, China, India, Brazil, Australia, and Canada |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
Amway Corp., Bayer AG, Church and Dwight Co. Inc., GlaxoSmithKline Plc, Hero Nutritionals Inc., Honest Co. Inc., Nestle SA, Pharmavite LLC, Power Gummies, and Unilever Group |
|
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 the 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. |
What are the Key Data Covered in this Gummy Vitamin Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive gummy vitamin market growth during the next five years
- Precise estimation of the gummy vitamin market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the gummy vitamin industry across APAC, North America, South America, Europe, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of gummy vitamin market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market Characteristics
2.2 Value chain analysis
Exhibit 10: Value chain analysis
2.2.1 Input
2.2.2 Inbound logistics
2.2.3 Primary processing
2.2.4 Secondary and tertiary processing
2.2.5 Outbound logistics
2.2.6 End-customers
2.2.7 Marketing and sales
2.2.8 Services
2.2.9 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2021
5. Market Segmentation by Distribution channel
5.1 Market segments
The segments covered in this chapter are:
- Online
- Offline
Exhibit 22: Distribution channel - Market share 2021-2026 (%)
5.2 Comparison by Distribution channel
Exhibit 23: Comparison by Distribution channel
5.3 Online - Market size and forecast 2021-2026
Exhibit 24: Online - Market size and forecast 2021-2026 ($ million)
Exhibit 25: Online - Year-over-year growth 2021-2026 (%)
5.4 Offline - Market size and forecast 2021-2026
Exhibit 26: Offline - Market size and forecast 2021-2026 ($ million)
Exhibit 27: Offline - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Distribution channel
Exhibit 28: Market opportunity by Distribution channel
6. Customer landscape
6.1 Overview
Exhibit 29: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
The regions covered in the report are:
- APAC
- North America
- South America
- Europe
- MEA
Exhibit 30: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 31: Geographic comparison
7.3 APAC - Market size and forecast 2021-2026
Exhibit 32: APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 33: APAC - Year-over-year growth 2021-2026 (%)
7.4 North America - Market size and forecast 2021-2026
Exhibit 34: North America - Market size and forecast 2021-2026 ($ million)
Exhibit 35: North America - Year-over-year growth 2021-2026 (%)
7.5 South America - Market size and forecast 2021-2026
Exhibit 36: South America - Market size and forecast 2021-2026 ($ million)
Exhibit 37: South America - Year-over-year growth 2021-2026 (%)
7.6 Europe - Market size and forecast 2021-2026
Exhibit 38: Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 39: Europe - Year-over-year growth 2021-2026 (%)
7.7 MEA - Market size and forecast 2021-2026
Exhibit 40: MEA - Market size and forecast 2021-2026 ($ million)
Exhibit 41: MEA - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 42: Key leading countries
7.9 Market opportunity by geography
Exhibit 43: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 High demand for on-the-go dietary supplement products
8.1.2 Rising awareness regarding health
8.1.3 Rising sales through online channels
8.2 Market challenges
8.2.1 High cost of production
8.2.2 Formulation challenges for inducing vitamin ingredients in gummies
8.2.3 Risk and side effects of overconsumption of gummy vitamins
Exhibit 44: Impact of drivers and challenges
8.3 Market trends
8.3.1 Availability of gummy supplements for children
8.3.2 Introduction of organic gummies
8.3.3 Developments according to dynamic demands for improved flavors among the consumers
9. Vendor Landscape
9.1 Competitive scenario
9.2 Overview
Exhibit 45: Vendor landscape
9.3 Landscape disruption
Exhibit 46: Landscape disruption
Exhibit 47: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 48: Vendors covered
10.2 Market positioning of vendors
Exhibit 49: Market positioning of vendors
10.3 Amway Corp.
Exhibit 50: Amway Corp. - Overview
Exhibit 51: Amway Corp. - Product and service
Exhibit 52: Amway Corp. - Key offerings
10.4 Bayer AG
Exhibit 53: Bayer AG - Overview
Exhibit 54: Bayer AG - Business segments
Exhibit 55: Bayer AG - Key offerings
Exhibit 56: Bayer AG - Segment focus
10.5 Church and Dwight Co. Inc.
Exhibit 57: Church and Dwight Co. Inc. - Overview
Exhibit 58: Church and Dwight Co. Inc. - Business segments
Exhibit 59: Church and Dwight Co. Inc. - Key offerings
Exhibit 60: Church and Dwight Co. Inc. - Segment focus
10.6 GlaxoSmithKline Plc
Exhibit 61: GlaxoSmithKline Plc - Overview
Exhibit 62: GlaxoSmithKline Plc - Business segments
Exhibit 63: GlaxoSmithKline Plc - Key offerings
Exhibit 64: GlaxoSmithKline Plc - Segment focus
10.7 Hero Nutritionals Inc.
Exhibit 65: Hero Nutritionals Inc. - Overview
Exhibit 66: Hero Nutritionals Inc. - Product and service
Exhibit 67: Hero Nutritionals Inc. - Key offerings
10.8 Honest Co. Inc.
Exhibit 68: Honest Co. Inc. - Overview
Exhibit 69: Honest Co. Inc. - Product and service
Exhibit 70: Honest Co. Inc. - Key offerings
10.9 Nestle SA
Exhibit 71: Nestle SA - Overview
Exhibit 72: Nestle SA - Business segments
Exhibit 73: Nestle SA - Key offerings
Exhibit 74: Nestle SA - Segment focus
10.10 Pharmavite LLC
Exhibit 75: Pharmavite LLC - Overview
Exhibit 76: Pharmavite LLC - Product and service
Exhibit 77: Pharmavite LLC - Key offerings
10.11 Power Gummies
Exhibit 78: Power Gummies - Overview
Exhibit 79: Power Gummies - Product and service
Exhibit 80: Power Gummies - Key offerings
10.12 Unilever Group
Exhibit 81: Unilever Group - Overview
Exhibit 82: Unilever Group - Business segments
Exhibit 83: Unilever Group - Key offerings
Exhibit 84: Unilever Group - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 ????Market definition
11.1.2 Objective
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 85: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 86: Research Methodology
Exhibit 87: Validation techniques employed for market sizing
Exhibit 88: Information sources
11.4 List of abbreviations
Exhibit 89: List of abbreviations
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
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
PURCHASE FULL REPORT OF
gummy vitamin market market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Why should you prefer Technavio's market insights report?
- Off-the-shelf research reports
- Reports can be tailored to meet the customer's needs
- Trusted by more than 100 fortune 500 organizations
- Information about the market's key drivers, trends, and challenges
- Parent market analysis
- Every week, 50,000 people visit our subscription platform
- Detailed vendors report with competitive landscape
- Covid-19 impact and recovery analysis
- Data on revenue-generating market segments
- Details on the market shares of various regions
- Five-force market analysis