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Gummy Vitamins Global Market Expected to Reach $11.21 Billion By 2028 with CAGR of 9.1% | Unilever PLC, Otsuka Pharmaceutical, Reckitt Benckiser Group PLC, Sirio Pharma Co., Hero Nutritionals LLC
Gummy Vitamins Global Market
The Business Research Company presents an extensive market research report on the Gummy Vitamins Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The gummy vitamins market size has grown rapidly in recent years. It will grow from $7.19 billion in 2023 to $7.92 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to increased undernourished population, increased health consciousness, growth in dietary supplements and strong economic growth in emerging markets.
The gummy vitamins market size is expected to see strong growth in the next few years. It will grow to $11.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increase in geriatric population, increasing vegan population, increasing prevalence of dysphagia and rising digital media marketing and social media. Major trends in the forecast period include focus on product innovations, launching flavored gummy vitamins, launch of 3d printed gummy vitamins and partnerships and collaborations.
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Key Market Players:
Major companies operating in the gummy vitamins market report are Unilever PLC, Otsuka Pharmaceutical, Reckitt Benckiser Group plc, Sirio Pharma Co., Hero Nutritionals Llc, Herbaland Naturals Inc, Nature's Way Products, Llc, Zanon Lifesciences Private Limited, India Private Label Supplements, Biovencer Healthcare Private Limited, Radius Healthcare Private Limited, Estrellas Life Sciences Private Limited, Nanchang Xinouli Trading Co., Ltd, Jiangsu Handian Biotechnology Co., Ltd, Biocaro Pharmaceutical Co., Ltd, Shantou Sweet Road Industry And Trading Co., Ltd, The Good Vitamin Co, Garden Of Life, Vegums, Amway Corp, Noreva Biotech, Vtf, Solgar, Evalar, Biovea, Terezia, Zarbee's Inc, Olly Public Benefit Corporation, Atrium Innovations, Pfizer, Inc, Now Foods, Healthvit, Ascendis Health, Inova Pharmaceuticals,, Vitabiotics Ltd, Glaxosmithkline Plc, Abbott Laboratories, Nestle S.A, Gnc Holdings Inc., Life Science Nutritionals, Bettera Brands Llc, Bayer Ag, Santa Cruz Nutritionals Inc, Makers Nutrition Llc, Nutra Solutions, Ferrara Candy Company
Market Drivers:
The increasing vegan population is expected to propel the growth of the gummy vitamins market. A vegan is an individual who follows a vegan lifestyle, which involves abstaining from the consumption of animal products and, in many cases, avoiding the use of other animal-derived goods or by-products. The increasing vegan population presents a market opportunity for gummy vitamin manufacturers to align their products with the values and preferences of a growing consumer segment. For example, in December 2021, according to Redefinemeat, an Israel-based company that manufactures packaged food products, there are an estimated 79 million vegans globally, which is over 1% of the whole population. In the USA, 2 % of people identify as vegan. Three-quarters of them are female. By 2040, it's projected that only 40 % of the world's population will eat meat. Therefore, the increasing vegan population is expected to support the demand for the growth of the gummy vitamins market.
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https://www.thebusinessresearchcompany.com/report/gummy-vitamins-global-market-report
The gummy vitamins market covered in this report is segmented -
1) By Product Type: Single Vitamin, Multi Vitamin, Probiotics
2) By Source: Plant, Animal
3) By End User: Adult, Children
4) By Sales Channel: Hypermarket, Supermarket, Specialty Stores, Retail Pharmacies, Online Sales Channel, Other Sales Channel
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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