Gummy Vitamins Market Projected to Experience Major Revenue Boost During the Period Between 2020-2027
Pune, Maharashtra, India, August 25 2020 (Wiredrelease) Allied Analytics : Gummy Vitamins Market by Type (Single Vitamin, Multivitamin, and Prebiotics), Demographics (Children and Adult), and Sales Channel (Hypermarket and Supermarket, Specialty Stores, Retail Pharmacies, and Online Sales Channel): Global Opportunity Analysis and Industry Forecast, 20192026. According to the report, the global gummy vitamins industry garnered $5.7 billion in 2018, and is estimated to reach $9.3 billion by 2026, growing at a CAGR of 6.5% from 20192026.
Drivers, restraints, and opportunities-
Surge in incidence of dysphagia, rise in consumer awareness regarding preventive healthcare, and increase in prevalence of vitamin deficiency drive the growth of the global gummy vitamins market. However, huge amount of sugar in gummy vitamins and difficult way to make vitamin stable in gummy format hinder the growth. On the other hand, pectin as an alternative for gelatin would offer new opportunities in coming years.
Download Sample Report with Detailed COVID-19 Impact Analysis at: https://www.alliedmarketresearch.com/request-sample/6429
The multivitamin segment to lead the trail by 2026-
Based on type, the multivitamin segment contributed to nearly two-thirds of the global gummy vitamins market share in 2018, and is expected to dominate throughout the forecast period. This is due to the fact that most of the consumers have turned to fortified gummies as a convenient and healthy dietary supplement. The prebiotics segment, on the other hand, would cite the fastest CAGR of 8.0% till 2026. This is attributed to upsurge in consumption of functional foods, which have potentially positive effects on health.
The adult segment held the largest share in 2018-
Based on demographics, the adult segment accounted for nearly two-thirds of the global gummy vitamins market revenue in 2018, and is anticipated to retain its dominance during 20192026, owing to very high prevalence of vitamin deficiency amongst them. Simultaneously, the children segment is anticipated to register the fastest CAGR of 6.6% by the end of 2026. Stakeholders in the industry are offering supplements in gummy forms to entice kids, which has driven the segment growth.
North America to rule the roost in terms of revenue-
Based on geography, North America generated the highest share in 2018, holding nearly half of the global gummy vitamins market. The fact that the key players in the region are adapting innovative strategies in order to sustain in the highly competitive market has boosted the growth. At the same time, the Asia-Pacific region would cite the fastest CAGR of 8.5% throughout the estimated period. People in this province have become health conscious and are opting for healthier lifestyle; thereby, adding gummy vitamins in their day-to-day consumption which, in turn, has reinforced the market growth.
Top Key Players: Bayer AG., Church Dwight, Inc., Pfizer Inc., Pharmavite LLC, The Honest Company, Inc., Olly Public Benefit Corporation, SmartyPants Vitamins, Hero Nutritionals LLC, Bettera Wellness, and Ion Labs, Inc
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6429
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials Chemicals, Construction Manufacturing, Food Beverages, Energy Power, Semiconductor Electronics, Automotive Transportation, ICT Media, Aerospace Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
This content has been published by Allied Analytics company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at firstname.lastname@example.org.