Portland, OR, April 01, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global gummy vitamins market generated $5.7 billion in 2018, and is expected to generate $9.3 billion by 2026, registering a CAGR of 6.5% from 2019 to 2026. The report offers a detailed analysis of changing market dynamics, market size& trends, market estimations, key investment pockets, top segments, and business performance of key players.
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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.
On the basis of type, the multivitamin segment accounted for nearly two-thirds of the total market share in 2018, and is projected to maintain its dominance during the forecast period. This is attributed to inclination of consumers towardfortified gummies for being convenient and healthy supplement. However, the prebiotics segment is estimated to portray the highest CAGR of 8.0% from 2019 to 2026.
Based on demographics, the children segment is expected to grow at the highest CAGR of 6.6% by 2026. However, the adult segment held nearly two-thirds of the global gummy vitamins market in terms of revenue in 2018, and is expected to maintain its dominant positionthroughout the forecast period, 2019–2026.
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Based on region, North America contributed to the largest share in 2018, accounting for nearly half of the total market share, and is estimated to maintain its lead position during the forecast period. This is due to adoption of innovative strategies by leading players to sustain in the highly competitive market. However, Asia-Pacific is estimated to witness the highest CAGR of 8.5% from 2019 to 2026. This is due to rise in health consciousness among people and adoption of healthy lifestyle that enabled increase in day-to-day consumption of gummy vitamins.
Leading market players analyzed in the research are 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.
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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 domain.
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.
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