Covid-19 Impact on Gummy Vitamins Market | Industry Segment and Forecast to 2028

02/nov/2020 16:20:15 suraj taur Contatta l'autore

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Market Overview

Gummy Vitamins are defined as chewable supplements that are available in various flavors and sizes. A new report on the global gummy vitamins market, published by Market Research Future (MRFR), assesses that this market could envisage the expansion at 9.10% CAGR between 2018 and 2028. In terms of value, the market can be worth USD 3,931.8 Mn by the end of the forecast period.

The major market drivers for the global gummy vitamins industry growth are increasing cases of vitamin deficiencies and preference for easy-to-swallow supplements. The need for natural colors, natural flavors, and natural sweeteners can open lucrative avenues for Covid-19 Impact on Gummy Vitamins Market growth. Vitamin supplements that taste sweet appeal to kids and adults alike. Also, sweeteners that are without sugar can make gummy vitamins suitable to consume for diabetic patients too. Other market drivers include the availability of chewable supplements such as gummy vitamins and high demand for naturally derived products. However, one factor that can pose a challenge to market growth is adverse effects.

Key Players

Big players in the Global Covid-19 Impact on Gummy Vitamins Market include Bayer Group (Germany), BETTERA Wellness Corp. (USA), Church & Dwight Co. Inc. (USA), Gimbals Fine Candies (USA), HERBALAND Naturals Inc. (Canada), Hero Nutritionals LLC (USA), Life Science Nutritionals (Canada), The Nature's Bounty Co. (USA), Nature's Way Products LLC (USA), Olly Public Benefit Corporation (USA), PHARMAVITE LLC (USA), Rainbow Light Nutritional Systems Inc. (USA), SMARTYPANTS Inc. (USA), SOFTIGEL (USA) and ZANON VITAMEC USA Inc. (USA)

Latest Industry News

USA’s #1 gummy vitamin brand vitafusion™ has launched its Gorgeous Hair, Skin, and Nails. This is a delicious raspberry-flavored multivitamin whose key ingredients are Biotin, vitamin C and vitamin E. Containing 12 essential nutrients; this gummy vitamin can provide gorgeous skin, healthy nails, and luxurious hair. This gummy vitamin uses only natural fruit flavors.

Market Segmentation

Global Gummy Vitamins Industry segmentation encompasses distribution channel, end-user, and type. MRFR’s take on the market explores various facets of the market in-depth.

Based on the distribution channel, this Covid-19 Impact on Gummy Vitamins Market can be segmented into store-based distribution and non-store-based distribution. During the forecast period, the store-based distribution channel has been projected to reach USD 7,684.5 mn. By 2028, the non-store-based distribution channel is expected to grow at 10.10% CAGR by 2028. Non-store-based distribution channels use e-commerce platforms to offer customers across various regions, an array of products.

Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/gummy-vitamins-market-6653

Regarding end-user, Covid-19 Impact on Gummy Vitamins Market has been segmented into child and adult. The child segment accounts for 29.10% market share as manufacturers are introducing low sugar content-based supplements to sustain constant sales of supplements for children. Growing at 9.27% CAGR, the child segment can reach a valuation of USD 2,776.5 Mn by 2028. However, the adult segment is expected to attain the value of USD 6,618.5 Mn by 2028 while growing at 9.03% CAGR, to meet dietary requirements.

By type, the market has been segmented into single vitamins and multivitamins. During the forecast period, the single vitamins segment can exhibit 8.88% CAGR, attaining the valuation of USD 2.78 Bn. Benefits of vitamins are expected to boost the sales of vitamin supplements and ensure market growth. By 2028, the multi-vitamins segment can grow at 9.20% CAGR, likely to achieve the USD 6,610.8 Mn.

Regional Segmentation

A geographical outlining of the global gummy vitamins industry covers Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa (MEA).

Grasping 30.44% of the global market share, the market in Europe can expand at 9.40% CAGR, achieving the valuation of USD 2,939.7 Mn by 2028. In this region, the market can rise due to consumer inclination towards nutrient-dense food and beverages. Numerous flavors and shapes of vitamin supplements can attract more customers. High demand for natural as well as organic food products is also contributing to the market growth. The significant country-specific markets in this region are Belgium, France, Germany, Italy, Luxembourg, the Netherlands, Russia, Spain, and the UK. 

In Latin America, the market is decent. However, most of the gummy vitamins available in the markets are imported from North America. The purchasing power of consumers is lesser than North American consumers, but the demand is high. The top country-specific markets in this region are Argentina, Brazil, Chile, Colombia, and Peru. In the MEA region, the market is low due to lack of awareness, low purchasing power, and many restrictions on imports. The Middle East segment is in better condition compared to the Africa segment as the purchasing power of consumers in the Middle East is higher than those in Africa. The pressing country-specific markets in this region are Egypt, Iran, Nigeria, Saudi Arabia, and South Africa. 

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NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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