PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401411
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401411
Global Multivitamin Gummies Market is valued at approximately USD 5.15 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11.2% over the forecast period 2023-2030. Multivitamin Gummies are chewable vitamin supplements that are colorful and flavorful and contain various vitamins and multivitamins, made with gelatin, sugar, corn starch and added colorings. As people become more aware of the importance of maintaining a healthy lifestyle, the demand for nutritional supplements has increased. However, the high cost of these products could limit market growth. These gummies contain Vitamin C, A, D, E, K, B6, thiamine, Vitamin B12, and folic acid.
The dietary supplement industry has experienced significant growth in recent years due to factors such as rising disposable income, changing lifestyles, and a desire for preventive healthcare. Additionally, NGOs and government agencies have provided favorable support, further driving the market growth. In June 2022, the U.S. Food & Drug Administration (FDA) launched the "Supplement Your Knowledge" initiative to educate consumers, healthcare professionals, and educators on the benefits of dietary supplements. Also, to meet the ever-changing consumer demands, market players are constantly introducing innovative products, such as new flavors, organic and natural ingredient options, vegan formulations, and specialized gummy vitamins targeting specific health needs such as immunity support, bone health, or prenatal care. For example, Vitafusion, a Church & Dwight Co. Inc. brand, offers Vitafusion multi +immune support and Vitafusion multi + beauty adult multivitamin gummy, which addresses immunity of health, skin and hair health. However, regulatory compliance poses challenges for manufacturers, as adhering to regulations and obtaining necessary approvals can be time-consuming and costly, hindering market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Multivitamin Gummies Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, the North American market for gummy products was dominant due to the presence of numerous players in the market. Manufacturers in this region are utilizing new technologies for production and innovative packaging to attract consumers. Furthermore, they are collaborating with online retailers such as Amazon to offer direct delivery to end-users. Asia Pacific is expected to experience significant growth over the forecast period. The rapid urbanization and changing lifestyles have led to a surge in chronic disease prevalence, which has played a critical role in driving market growth. The availability of cost-effective raw materials and the increasing demand for natural products have further contributed to the market's expansion.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable