June 18, 2024
Climate Change Consulting Market

Gummy Supplements Market to Witness High Growth Owing to Rising Preference for Convenient Dietary Supplements

 Gummy supplements aid in improving immunity, bone health, sleep quality, heart health, and digestive functions. They are preferred over traditional supplements as they provide taste and texture along with nutritional benefits. The gummy supplements market is witnessing tremendous growth owing to rising health consciousness, preference for flavored and convenient dosage formats, and busy lifestyles leading to insufficient dietary intake.

The Global gummy supplements market is estimated to be valued at US$ 4716.17 Mn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the gummy supplements market are Diebold Nixdorf, Inc., DXC Technology, ECR Software Corporation, Fujitsu, ITAB Group, NCR Corporation, Pan-Oston Corporation, ShelfX Inc., Slabb Inc., and Toshiba Global Commerce Solutions. These players are adopting various organic and inorganic strategies such as mergers & acquisitions, new product launches, geographical expansions to strengthen their market presence.

The market provides opportunities such as rising demand for customized gummy supplements, innovation in texture, taste, and shapes of gummies. The demand is driven by millennial population, growing health clubs and fitness centers, changing dietary habits, and hectic lifestyles.

The market is witnessing expansion in regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Increasing adoption of gummy supplements in developing nations for catering to health needs is positively impacting market growth.

Market drivers
The key driver for the gummy supplements market is the rising preference for convenient dietary supplement formats. Gummy supplements provide an enjoyable way to meet nutrient requirements without the hassles of pills and capsules. They aid increased compliance for long-term supplement intake. Moreover, growing awareness about health and wellness is also driving the adoption of gummy supplements for fulfilling supplemental nutrient needs in a tasty manner.

PEST Analysis
Political: The regulations surrounding the ingredients used in supplement products can impact the gummy supplements market. Various government agencies regulate the ingredients and labeling claims of supplements.

Economic: Rising disposable incomes and growing health consciousness are fueling demand for nutrition supplements. Consumers’ desire for fun, flavorful formats is driving interest in gummy supplements.

Social: Younger consumers oriented toward health and wellness are open to supplementing with gummies. The format appeals as a tasty, chewy treat. Social media is exposing consumers to new supplement brands and options like gummies.

Technological: Advances in gummy forming technology allow for complex shapes and flavors. Microencapsulation techniques help deliver ingredients effectively in the gummy format.

The Gummy Supplements Market Size in North America accounts for the largest value share globally. The United States is a key market where awareness of supplements is widespread and consumers are open to innovative delivery formats. The region benefits from the presence of major supplement companies and retailers. Easy availability of products through retail channels and e-commerce sites further boosts the North American market.

The Asia Pacific region possesses immense potential for growth in the gummy supplements market. Rising health consciousness and busy lifestyles are prompting Asian consumers to use supplements. The market is driven by growing middle-class populations in countries like India and China with increasing spending power. As Asian markets continue to urbanize and consumers become more exposed to Western health trends, gummy supplements are poised for strong sales gains. Manufacturers are targeting Asia Pacific through regional production, customized products, and multi-channel distribution strategies.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it