|
Forecast Period
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2024-2028
|
|
Market Size (2022)
|
USD 21.32 billion
|
|
CAGR (2023-2028)
|
11.70%
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Fastest Growing Segment
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Psilocybin/Psychedelic
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Largest Market
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North America
|
Market Overview
Global Gummy Market has valued at USD 21.32 billion in 2022 and is
anticipated to project impressive growth in the forecast period with a CAGR of
11.70% through 2028. Gummy candies have gained immense popularity worldwide,
primarily due to their appealing taste, chewy texture, and convenience. They
have transcended traditional children's candies to become a favored snack for
people of all ages. The gummy market has witnessed substantial growth in the
dietary supplement category. Many adults prefer gummy vitamins and supplements
as they are more palatable and easier to consume than pills or capsules. This trend
has prompted several companies to expand their product lines into this segment.
Key Market Drivers
Health and Wellness Trend
In an era where health-consciousness is on the rise, consumers are
continually seeking convenient and enjoyable ways to prioritize their
well-being. This trend has breathed new life into the global gummy market,
turning these chewy confections into more than just tasty treats. Gummies are
emerging as a vehicle for delivering essential vitamins, minerals, and other
health-promoting ingredients, aligning perfectly with the health and wellness
movement. One of the most significant ways in which the health and wellness
trend is boosting the gummy market is through the proliferation of gummy
vitamins and supplements. Consumers, both young and old, are increasingly
opting for gummy versions of vitamins like Vitamin C, D, and multivitamins.
These gummies offer a convenient and enjoyable alternative to traditional pills
or capsules. They are easy to chew, require no water, and taste like a treat
rather than medication, making them more appealing to a broader demographic. Beyond
basic vitamins, gummy manufacturers are developing products that cater to
specific health and wellness needs. This includes gummies infused with
ingredients like probiotics for gut health, collagen for skin and joint health,
and antioxidants for immunity support. These functional gummies are tapping
into niche markets, addressing consumers' desire for tailored wellness
solutions. The enjoyable nature of gummies can lead to better compliance with
health regimens. People are more likely to take their daily supplements when
they look forward to the experience. This can lead to improved health outcomes,
as individuals are more likely to stick to their routines when it doesn't feel
like a chore. The health and wellness gummy trend is not limited to a specific
age group. While gummy vitamins are a hit among children and adults alike, they
are particularly appealing to younger generations who may be less inclined to
take traditional supplements. The incorporation of gummy supplements into daily
routines ensures that individuals of all ages are embracing this trend. Health-conscious
consumers are increasingly scrutinizing product labels, seeking clean, natural,
and transparent ingredients. Gummy manufacturers are responding by using
high-quality, natural, and organic ingredients, often eliminating artificial
additives and preservatives. This transparency fosters trust among consumers,
further boosting the appeal of gummy products within the health and wellness
segment. The health and wellness gummy trend is not confined to a single
region; it is a global phenomenon. As more people around the world prioritize
their health and seek enjoyable ways to meet their nutritional needs, the
global gummy market has seen expansion into new regions and markets, driving
overall growth.
Convenience and Portability
In a fast-paced world where time is of the essence, convenience and
portability have become key determinants in consumers' choices, even when it
comes to satisfying their sweet cravings. The global gummy market,
traditionally known for its irresistible taste, is experiencing remarkable
growth, largely propelled by convenience and portability factors. Gummies have
gained immense popularity as a convenient and portable snack option. Unlike
other snacks that require preparation or refrigeration, gummies can be enjoyed
straight from the packaging. Their bite-sized, mess-free nature makes them an
ideal choice for individuals looking for a quick energy boost during busy days
or while traveling. One of the standout features of gummies is their lack of
reliance on water for consumption. Unlike traditional snacks or supplements
that often require water to swallow, gummies can be eaten anywhere, anytime,
without the need to carry a drink along. This makes them perfect for scenarios
where access to water might be limited. Gummies are a traveler's best friend.
Whether it's a long flight, a road trip, or a daily commute, gummies are easy
to pack and consume without the hassle of refrigeration or utensils. Their
compact packaging and resistance to melting or spilling make them a preferred
choice for those constantly on the move. Individual packaging of gummies offers
built-in portion control, helping consumers manage their snacking habits more
effectively. It's easy to keep track of how many gummies are being consumed,
which can be important for individuals mindful of their calorie intake. Convenience
often equates to reduced food waste. With gummies, there's minimal risk of
spoilage or expiration. They have a longer shelf life compared to many other
snacks, and their individual packaging ensures that consumers can enjoy them at
their own pace, reducing the chances of food being thrown away. Gummies are
versatile enough to suit various occasions. They can be a fun addition to
children's lunchboxes, a satisfying post-workout snack, or a sweet treat during
breaks at the office. Their adaptability makes them a go-to option for diverse
consumer needs.
Diverse Flavors and Varieties
In the ever-evolving world of confectionery, gummy candies have emerged
as a global sensation. One of the driving forces behind their enduring
popularity is the wide array of flavors and varieties that cater to diverse tastes
and preferences. The global gummy market has experienced remarkable growth,
largely thanks to the innovation and creativity that have transformed these
chewy treats into a delectable playground of options. Diverse flavors and
varieties broaden the appeal of gummies across different demographics. While
traditional fruit flavors like cherry, strawberry, and orange remain timeless
favorites, the introduction of exotic, unique, and even unexpected flavors attract
adventurous consumers, keeping them engaged and curious. Consumer preferences
for flavors can change with time and trends. By offering an extensive range of
options, gummy manufacturers can quickly adapt to shifts in taste preferences.
Whether it's sour gummies for those seeking tangy excitement or savory gummies
for a novel experience, diverse flavors ensure that gummies remain relevant and
exciting. Diverse flavors and varieties have enabled gummy manufacturers to tap
into niche and specialty markets. From gourmet wine-flavored gummies to sugar-free
options for health-conscious consumers, the ability to cater to specific tastes
and dietary needs has expanded the market's reach. Gummies are versatile and
adaptable, making them perfect for seasonal and themed offerings. Special
editions, such as holiday-themed gummies or gummies tied to popular movies or
events, generate excitement and anticipation among consumers. These limited-time
flavors and varieties can drive sales and customer engagement. The introduction
of unusual or unexpected flavors can create a sense of novelty and innovation
in the gummy market. This encourages consumers to try new products, driving
curiosity and word-of-mouth recommendations. The availability of diverse
flavors and varieties allows consumers to personalize their gummy experience.
Whether they prefer sweet, sour, spicy, or a combination of flavors, gummies
offer a customizable treat that resonates with individuals' unique tastes.
E-commerce and Global Accessibility
In an age of digital interconnectedness, shopping for our favorite
treats has become easier than ever. E-commerce has reshaped the way consumers
access products, and the global gummy market is no exception. With the help of
online retail platforms, gummy manufacturers have expanded their reach across
borders, introducing consumers worldwide to a wide array of chewy delights. E-commerce
erases geographical boundaries, allowing consumers from different corners of
the world to indulge in their favorite gummy treats with a simple click of a
button. No longer confined to local stores, gummy enthusiasts can access a
global marketplace filled with diverse flavors and varieties that were
previously out of reach. Online platforms offer an extensive selection of gummy
products. From classic fruit flavors to specialty and artisanal gummies,
consumers can explore a wider range of options, finding gummies that align
perfectly with their preferences. This vast selection keeps gummy enthusiasts
engaged and curious. E-commerce facilitates access to niche and specialty gummy
products that may not be readily available in physical stores. Whether it's
organic, sugar-free, or dietary-specific gummies, consumers can find products
that cater to their unique needs and preferences. The convenience of e-commerce
cannot be overstated. Shoppers can browse, compare, and make purchases from the
comfort of their homes, saving time and effort. This convenience encourages
consumers to explore new gummy options, driving sales and market growth. E-commerce
platforms provide a global stage for gummy manufacturers to showcase their
products. Through targeted marketing and promotions, companies can reach a
broader audience, introducing their brands and flavors to consumers worldwide.
This visibility helps create brand recognition and drives demand. E-commerce
platforms often feature customer reviews and recommendations. These reviews
offer valuable insights into the taste, quality, and overall experience of
gummy products. Positive reviews can significantly influence purchasing
decisions, building trust and loyalty among consumers.
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Key Market Challenges
Health and Regulatory Concerns
One of the foremost challenges confronting the gummy market is the
heightened focus on health and regulatory compliance. As consumers become more
health-conscious, gummy manufacturers must navigate stringent regulations
related to ingredient transparency, labeling accuracy, and nutritional claims.
Ensuring that gummy products meet evolving health and wellness standards is paramount
to their continued success.
Sugar and Dietary Trends
The ongoing scrutiny of sugar consumption and the rise of dietary trends
like low-carb and sugar-free diets pose a challenge to traditional gummy
products. Many consumers are actively seeking alternatives with reduced sugar
content, pushing manufacturers to innovate and create gummies that align with
these dietary preferences.
Environmental Concerns
Growing concerns about environmental sustainability are prompting
consumers to reconsider their choices, including their favorite gummies. The
use of plastic packaging and single-use materials is increasingly scrutinized,
challenging gummy companies to adopt more eco-friendly practices to reduce
their environmental footprint.
Supply Chain Disruptions
The global gummy market relies on a complex supply chain that spans
various regions and countries. Supply chain disruptions, such as those caused
by natural disasters, pandemics, or geopolitical conflicts, can impact the
availability of raw materials and production capabilities, posing challenges to
meeting consumer demand.
Key Market Trends
Functional and Fortified Gummies
Consumers are increasingly seeking gummies that offer more than just a
sweet treat. Functional and fortified gummies, infused with vitamins, minerals,
probiotics, and other health-promoting ingredients, are expected to surge in
popularity. These gummies cater to consumers looking to address specific health
and wellness needs conveniently.
Plant-Based and Vegan Gummies
With the rise of plant-based diets and the growing demand for
vegan-friendly options, plant-based and vegan gummies are gaining traction.
These gummies use ingredients like pectin or agar-agar instead of gelatin,
making them suitable for a broader range of dietary preferences.
Sugar Reduction and Natural Sweeteners
As concerns about sugar intake continue to grow, gummy manufacturers are
exploring ways to reduce sugar content in their products. The use of natural
sweeteners, such as stevia, monk fruit, and erythritol, is likely to increase
to meet consumer demand for healthier gummy options.
Novelty and Themed Gummies
Consumers are drawn to novelty and themed gummy products that offer
unique flavors, shapes, and packaging tied to specific occasions, seasons, or
pop culture references. Limited-edition gummies and special releases generate
excitement and consumer engagement.
Segmental Insights
Products Insights
Based on the category of products, the vitamin market saw significant
growth in 2022, mainly driven by the rising instances of vitamin deficiencies,
notably Vitamin D and B12 deficiencies, attributed to factors such as dietary
choices and lifestyle. Vitamin gummies emerged as a convenient solution for
addressing these deficiencies. Moreover, working professionals have
increasingly adopted vitamin gummies as they offer benefits for metabolic
health, glycemic index regulation, and folic acid intake. Effective marketing
strategies, including endorsements by healthcare experts and social media
influencers, played a crucial role in raising awareness and driving demand for
these gummies. In April 2022, Nature's Truth, a wellness product manufacturer
specializing in vitamins and supplements, introduced a range of adult vitamin
gummies to cater to the growing demand in this segment.
On the other hand, the market for psilocybin/psychedelic mushroom
gummies is projected to experience substantial growth with a significant CAGR
from 2022 to 2030. This surge is attributed to the increasing interest in
alternative therapies, shifting societal attitudes toward psychedelics,
improved control over dosage, and the appeal of their taste. Manufacturers are
responding to this growing demand by launching new products. For example, in
January 2023, Galaxy Treats, a Nevada-based company specializing in
cannabinoids and active ingredients, introduced "Moon Shrooms Amanita
Mushroom Gummies." These gummies are infused with Amanita mushrooms, known
for their psychoactive properties, and are part of the company's expanding
lineup of innovative products.
Ingredient Insights
The market is divided into two segments based on ingredients: gelatin
and plant-based gelatin alternatives. Gelatin emerged as the dominant choice in
2022 due to its attributes, including its texture, versatility,
cost-effectiveness, widespread availability, stability, and compatibility with
various other components. Gelatin's ability to harmonize with a diverse range
of ingredients, such as vitamins, minerals, and flavors, has made it a favored
option for manufacturers aiming to produce functional gummies enriched with
health advantages.
In addition to its compatibility with various components, gummies made
from gelatin boast a chewy and soft consistency that appeals to a broad
audience. The texture of gelatin-based gummies closely resembles that of
traditional gummy candies, rendering them enjoyable to consume. Furthermore,
they exhibit robust stability, capable of enduring fluctuations in temperature
and humidity, rendering them suitable for both storage and transportation.
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Regional Insights
In 2022, the North American region took the lead in the market due to a
growing appetite for functional and fortified gummy products as well as
continuous innovation in the gummy industry. Particularly in the United States,
gummy supplements emerged as the second most favored form of supplementation
following traditional capsules and tablets, signifying substantial growth in
the U.S. gummy sector. According to the Council for Responsible Nutrition,
gummy supplements constituted 14% of all supplement sales in the U.S. back in
2019.
Looking ahead, the Asia Pacific gummy industry is anticipated to
experience a notable CAGR from 2022 to 2030. This growth can be attributed to
increasing consumer expenditure on health and wellness products, driven by
shifting lifestyles and rising disposable incomes in countries like China,
India, and Japan. In 2022, the Chinese gummy industry stood out as the dominant
force in the Asia Pacific market. Furthermore, manufacturers of gummy products
in the region are responding to consumer preferences by introducing a diverse
range of flavors and fusion gummies that appeal particularly to younger
demographics, including children. This is expected to stimulate demand and
contribute to the expansion of the gummy market in the region.
Recent Developments
- In March of 2023, Goli Nutrition Inc. introduced a probiotic gummy that
incorporates prebiotics, probiotics, and postbiotics into one convenient
product. These gummies are designed to promote a balanced gut microbiome and
enhance immune system function.
Key Market Players
- Procaps Group, S.A.
- Santa Cruz Nutritionals Investors LLC
- Amapharm GmbH
- Allsep's Pty Ltd
- Prime Health Ltd
- AJES Pharmaceuticals, LLC
- Lactonova Nutripharm Pvt Ltd.
- Lexicare Pharma Pvt. Ltd.
- Vitakem Nutraceutical Inc
- BOSCOGEN, INC.
|
By Product
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By Ingredient
|
By End-use
|
By Distribution Channel
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By Region
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- Vitamins
- Minerals
- Carbohydrates
- Omega Fatty Acids
- Proteins & Amino Acids
- Probiotics & Prebiotics
- Dietary Fibers
- CBD/CBN
- Psilocybin/Psychedelic Mushroom
- Melatonin
- Others
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- Gelatin
- Plant-based Gelatin Substitutes
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|
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- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
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Report Scope:
In this report, the Global Gummy Market has been segmented into the
following categories, in addition to the industry trends which have also been
detailed below:
- Gummy Market, By Product:
o Vitamins
o Minerals
o Carbohydrates
o Omega Fatty Acids
o Proteins & Amino Acids
o Probiotics & Prebiotics
o Dietary Fibers
o CBD/CBN
o Psilocybin/Psychedelic Mushroom
o Melatonin
o Others
- Gummy Market, By Ingredient:
o Gelatin
o Plant-based Gelatin Substitutes
- Gummy Market, By End-Use:
o
Adults
o
Kids
- Gummy Market, By Distribution Channel:
o
Offline
o
Online
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ Germany
§ United Kingdom
§ France
§ Italy
§ Spain
o Asia-Pacific
§ China
§ Japan
§ India
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the Global Gummy Market.
Available Customizations:
Global Gummy market report with the given market data, Tech Sci
Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Global Gummy Market is an upcoming report to be released soon. If you
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please contact us at [email protected]