Demand for Gummy Vitamins to Rise as an Easy Source of Nutrition
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According to a report by TMR, the global gummy vitamins market was recorded at US$2.68 bn in 2016. The market is expected to rise at a steady CAGR of 5.2% between 2016 to 2025. Rising at this CAGR, the global gummy vitamins market is projected to attain a valuation of US$4.17 bn by 2025.
Geographically, Asia Pacific is anticipated to display a robust demand for gummy vitamins due to rising awareness of benefits offered by gummy vitamins. On the basis of product, multivitamin segment is expected to lead among other product segments owing to soaring customer preference.
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Rising Awareness of Nutritional Benefits to Propel Market
Consumers across the globe are turning towards gummy vitamins as a convenient and healthy dietary supplement. At first, gummy vitamins were launched specifically for children as essential nutrients for their diet. However, now gummy vitamins are equally popular among adults and children as well. This is because they are easier and fun way of taking vital vitamins for the body. The global gummy vitamins market is expected to grow owing to the rising inclination of consumers towards gummy vitamins.
The key players in the global gummy vitamins market are highly focused for innovation of production technologies. This is likely to help them achieve expanded product production which is a key growth aspect in the global gummy vitamin market. For instance, a few players in the gummy vitamins market have launched prenatal multivitamin gummies for would-be moms with specific nutrition. Likewise, a company called Aesthetic Nutrition Pvt. Ltd., has launched new product called power gummies to prevent hair fall.
All these factors are expected to boost the growth of the global gummy vitamins market in the coming years. Along with this, increasing awareness campaigns on preventive care, increasing consumer demand, rising cases of undernourishment and malnutrition in developing countries, and the advent of new organic formulated gummy vitamins are some other factors likely to fuel the global gummy vitamins market.
Side effects Owing to Overconsumption of Gummy Vitamins to Challenge Market
Gummy vitamins are not sold under any medical prescription. They are easily available in retail store and online as well. The overconsumption of gummy vitamins may result in several side effects. This is a key factors restraining the growth of gummy vitamins market. However the increasing awareness among the consumers regarding the easy availability of vital vitamins is increasing the demand of gummy vitamin in the market. This is expected to overcome restraint in the gummy vitamin market.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMRâ€™s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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