Increasing Consumer Preference for Preventive Health Escalates Gummy Supplements Market Growth
According to our latest market study, titled “Gummy Supplements Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Digestive Health, Heart Health, Immune Health, Stress Management, Brain Health, Skin Health, Healthy Ageing, Sports Nutrition, Weight Loss, Multivitamins, Single Vitamins, Probiotics, Men’s Health, Women’s Health, and Others) and End User (Adults and Kids)” the market is projected to reach US$ 16,510.39 million by 2028 from US$ 9,467.04 million in 2021. It is expected to grow at a CAGR of 8.3% during 2021–2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Gummy supplements consist of nutrients, such as vitamins, minerals, proteins, amino acids, probiotics, and others. These supplements help in fulfilling the specific nutritional requirement of an individual. The rising concerns related to health and fitness amongst the people, especially the young population group, is one of the key factors driving the market growth. Moreover, growing traction for sports and recreational activities and rising awareness related to the advantages of consuming gummy supplements are also propelling the growth of the global gummy supplements market.
Furthermore, social media also plays a significant role in fitness motivation and influencing self-improvement. For instance, social media platforms, such as Instagram, Twitter, and Pinterest, have boosted the popularity of the health and fitness industry, with many celebrities and influencers introducing users to new fitness regimes and gummy supplements, highlighting the benefits they offer to their physical and mental health, in turn, aiding the gummy supplements demand.
Additionally, people's increased interest in bodybuilding and athletics is fueling the popularity of supplements worldwide. Athletes are becoming more inclined toward gummy supplements to improve endurance and performance while also maintaining health. This factor is driving the demand for gummy supplements significantly across the world.
Bayer AG; Church & Dwight, Inc.; Pharmavite LLC; Herbaland Naturals Inc.; Jarrow Formulas, Inc.; Life Science Nutritionals; Nature's Bounty; Nature's Way Products LLC; The Clorox Company; and Zanon Vitamec are the major key players operating in the global gummy supplements market. The market is expected to remain lucrative in the coming years due to the increased use of gummy supplements to attract consumers and provide a personalized feel. The capital cost involved in producing gummy supplements and operating a manufacturing unit is on the moderate side, influencing an entrant's decision to enter the market. The major manufacturers of gummy supplements have the majority of the share in the market, which makes it difficult for new companies to enter the market. As the gummy supplements market grows, there will be an increase in the number of local and regional manufacturers, which will threaten the established players in the near future.
Impact of COVID-19 Pandemic on Gummy Supplements Market
The COVID-19 pandemic has resulted in economic recession worldwide, subsequently affecting the mental health of many people. During this period, people experienced mental stress due to various reasons, such as loss of jobs, loss of loved ones, and isolation. For instance, as per data published by KAISER FAMILY FOUNDATION, 40% of adults in the US reported symptoms of depressive disorders and anxiety. KAISER FAMILY FOUNDATION also published results of a poll conducted in July 2020; the poll found that many adults are suffering from negative impacts, such as worsening chronic conditions (12%), increases in alcohol consumption or substance use (12%), eating (32%), and difficulty sleeping (36%).
A similar trend of increase in stress-related symptoms due to the pandemic was witnessed worldwide. If stress is not treated appropriately, it can later lead to other disorders, such as high blood pressure and clinical depression. Thus, the consumption of stress-related supplements increased due to consumers’ efforts to mitigate the negative impact of stress. Gummy supplements with ingredients that have a relaxing effect were, therefore, increasingly being consumed post-pandemic. Thus, the gummy supplements market benefitted from the pandemic outbreak and has shown positive growth after 2020.
Report : Gummy Supplements Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Digestive Health, Heart Health, Immune Health, Stress Management, Brain Health, Skin Health, Healthy Ageing, Sports Nutrition, Weight Loss, Multivitamins, Single Vitamins, Probiotics, Men’s Health, Women’s Health, and Others) and End User (Adults and Kids)
The report includes the segmentation of the global gummy supplements market as follows:
By type, the gummy supplements market is segmented into digestive health, heart health, immune health, stress management, brain health, skin health, healthy aging, sports nutrition, weight loss, multivitamins, single vitamins, probiotics, men’s health, women’s health, others. By end user, the market is segmented into adults and kids.
By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. The North America gummy supplements market is further segmented into the US, Canada, and Mexico. The gummy supplements market in Europe is sub segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is sub segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The gummy supplements market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the rest of MEA. The market in South and Central America is sub segmented into Brazil, Argentina, and the Rest of South and Central America.
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