With the ongoing restrictions on mass gatherings and large events due to Covid-19, there has been a bearish trend in the global demand for gummy vitamins. However, consumption of food products infused with vitamins is high due to continuous advertising of the benefits of vitamin infused food products by several media houses. Gummy vitamins in this aspect are witnessing accelerating demand. However, due to instability in the current supply chain, gummy vitamin manufacturers have narrowed down production.
Global gummy vitamins market is forecasted to account for an absolute dollar opportunity of over US$ 2.5 Bn between 2020 and 2030. It is anticipated that propensity towards fortified gummies will boost sales for gummy vitamins market throughout the forecast period. High demand for gummy vitamins is a lucrative opportunity for supplement manufacturers in developed economies. Several other emerging competitors such as nutrient firm Olly Public Benefit Corporation have introduced its gummy vitamin supplements in Singapore and other Asian countries which was previously only available in the U.S. via e-commerce. The product is in heavy demand as an alternative measure to boosts one’s immune system amid the Covid-19 outbreak.
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Gummy Vitamins Market: Segmentation
Fact MR’s study has done the segmentation of the gummy vitamins market on the basis of product type, source type, customer orientation, packaging type, sales channel and region.
The global gummy vitamins market is segmented on the basis of product type, source type, customer orientation, packaging type, sales channel and region.
On the basis of product type, the gummy vitamins market is segmented into:
On the basis of source type, the gummy vitamins market is segmented into:
On the basis of customer orientation, the gummy vitamins market is segmented into:
On the basis of packaging type, the gummy vitamins market is segmented into:
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On the basis of sales channel, the gummy vitamins market is segmented into:
On the basis of region, the gummy vitamins market is segmented into:
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“Increasing global consciousness about preventive healthcare, digital platforms and social networking sites are becoming a prominent tool for gummy vitamin producers to advertise their products” says the Fact.MR analyst
Currently the gummy vitamins market is fragmented consisting of several food giants including Church & Dwight, Pfizer and Ferrara acquiring more than 25% market share with multiple emerging players. Key competitors within the gummy vitamin market are focused on improving their product range and retail presence online. The majority of top players in the gummy vitamin industry are based in the United States, although their growth is being observed in the international market. Even though companies are focused on establishing a foothold in domestic markets, the trend of regional expansion in high potential regions such as APEJ and MEA is expected in the foreseeable future.
Fact.MR, in its new offering, provides an unbiased analysis of the global market for gummy vitamins, with historical data on demand (2015-2019) and expected projections for the period (2020-2030). The report discloses compelling insights into the demand for gummy vitamins based of product type (single vitamin gummy, multivitamin gummy, probiotic vitamin gummy), source type (animal based, plant based), customer orientation (children, men, women), packaging type (bottles & jar, standup pouches, other packaging type), sales channel (direct sales, modern trade, convenience stores, departmental stores, specialty stores, drugstore/pharmacies, online retailers, other sales channels) across several major regions.
For More Insights: http://www.globenewswire.com/en/news-release/2018/08/29/1558423/0/en/5-Key-Insights-on-Fresh-Onions-and-Shallots-Market-through-2022-from-Fact-MR-s-Report.html
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