PUBLISHER: Grand View Research | PRODUCT CODE: 1433710
PUBLISHER: Grand View Research | PRODUCT CODE: 1433710
The North America gummy market size is anticipated to reach USD 8.02 billion by 2030 and is anticipated to expand at a CAGR of 14.9% from 2024 to 2030, according to a new report by Grand View Research, Inc.
The increasing demand for functional and fortified gummies, the availability of gummy supplements in different flavors for customers in search of taste with health benefits, and growing demand for natural products, as well as a growing interest in vegan gummies, are expected to augment the demand for the gummies over the forecast period in the North America region.
Consumer preferences are evolving when it comes to food and supplements. There has been a significant increase in consumer demand for nutraceutical products in recent years due to growing health awareness and concerns about the negative effects of processed foods and artificial ingredients. Consumers are looking for products that not only taste good but also offer additional health benefits. This trend is especially noticeable in the gummy industry, where consumers are seeking out functional and fortified gummies that contain vitamins, minerals, and other nutrients. The increasing demand for these types of gummies can be attributed to the growing awareness of the importance of maintaining good health through proper nutrition.
Moreover, the market is witnessing a surge in diverse gummy formats. Beyond the conventional gummy bear shape, manufacturers are introducing innovative designs and novel formats to enhance consumer appeal. This includes gummies in the form of slices, cubes, and even intricate shapes corresponding to specific health themes.The variety in format not only caters to aesthetic preferences but also allows for creative product differentiation.
In addition, the increasing demand for vegan and vegetarian options is significantly shaping the North America gummy market. This trend is driven by a growing consumer preference for plant-based alternatives, reflecting not only dietary choices but also ethical and environmental considerations. Moreover, manufacturers are increasingly opting for plant-derived alternatives such as pectin, agar-agar, and other plant-based gelling agents to replace traditional animal-derived gelatin, this is expected to augment the market growth during the forecast period.
Major players in the market include SCN BestCo; Herbaland Gummies; Boscogen, Inc.; Pharmavite, LLC; Church & Dwight Co., Inc.; SMP Nutra; and Nature's Bounty. These players actively engage in strategic initiatives, including product launches and partnerships, to meet evolving consumer preferences and foster innovation. Furthermore, these players are focusing on establishing their online presence across the countries owing to the rapidly expanding customer base.