Gummy Market to surpass $51 Bn by 2032, Says Global Market Insights Inc.
Major gummy market participants include Nestle SA, Bayer AG, Church & Dwight Co. Inc, Procter & Gamble, Unilever PLC (OLLY), Amway Corp, Otsuka Holdings Co., Ltd, GSK Plc, Haleon Group of Companies, Catalent, Inc, H&H Group, Procaps Group.
Selbyville, Delaware, Feb. 05, 2024 (GLOBE NEWSWIRE) --The gummy market valuation is projected to cross USD 51 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing preference for convenient and enjoyable dosage forms, especially among children and adults will favor the market expansion. The emergence of health and wellness trends are leading to the development of gummies infused with vitamins, minerals, and supplements. The versatility of gummies in accommodating various flavors and functional ingredients is also enhancing their appeal. Additionally, the growing focus on natural and organic ingredients in formulations is helping to match the evolving consumer preferences for healthier choices. The expansion of e-commerce channels for facilitating easy accessibility will also foster the industry growth.
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Demand for probiotic gummies is anticipated to rise at substantial CAGR from 2024 to 2032, owing to the increasing consumer awareness of gut health benefits. Probiotic gummies offer a convenient and palatable way to incorporate probiotics into daily routines. The rising interest in digestive health and the strong desire for tasty and functional supplements is driving the demand for probiotic gummies. Additionally, the increasing appeal of natural ingredients and the higher association of probiotics with overall well-being will fuel the segment growth.
The gummy market from children end-use segment is expected to hold significant revenue share by 2032. This is due to the increasing demand for enjoyable and easy-to-administer supplements for children. Lately, parents are increasingly preferring gummies as a convenient and appealing way to provide essential vitamins and minerals to their children. The colorful and flavorful nature of gummies also makes them a preferred option for children, further encouraging supplement intake. Additionally, the rapid expansion of child-specific gummy offerings, often fortified with vitamins will drive the industry demand.
Asia Pacific gummy market will expand at rapid pace between 2024 and 2032, led by the increasing consumer preference for convenient and enjoyable dietary supplements. The rising health consciousness, particularly in China and India, is fueling the demand for functional gummies enriched with vitamins and minerals. Moreover, the influence of western dietary trends is driving the popularity of diverse flavors and the expansion of e-commerce. The dynamic lifestyles and the growing awareness of wellness will also boost the market adoption across the region.
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Some of the prominent companies operating in the gummy market include Nestle SA, Bayer AG, Church & Dwight Co. Inc, Procter & Gamble, Unilever PLC (OLLY), Amway Corp, Otsuka Holdings Co., Ltd, GSK Plc, Haleon Group of Companies, Catalent, Inc, H&H Group, Procaps Group.
These industry players are emphasizing investments for launching new products to tap new market growth opportunities. For instance, in July 2023, Power Gummies, a D2C nutraceutical products maker, invested $2 million to establish a manufacturing plant in Manesar, Gurugram, and launched Power Gummies Junior to foray into kid-specific products.
*Partial chapters of report table of contents (TOC):*
*Chapter 1 Methodology & Scope*
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
*Chapter 2 Executive Summary*
2.1 Gummy Market 360^ synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Ingredients trends
2.5 Distribution trends
2.6 End trends
*Chapter 3 Gummy Market Insights*
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 China-U.S. trade war impact
3.4 Industry ecosystem analysis
3.5 Type & innovation landscape
3.6 Patent analysis
3.7 Key news and initiatives
3.7.1 Partnership/Collaboration
3.7.2 Merger/Acquisition
3.7.3 Investment
3.7.4 Product launch & innovation
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.2 Industry pitfalls & challenges
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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*About Global Market Insights Inc.*
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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