Gummy Market Is Estimated To Register A CAGR Of 12.6% By 2028Posted by rahul nikade on October 14th, 2022 Gummy Industry Overview The global gummy market size was valued at USD 16.28 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12.6% from 2020 to 2028. The market is witnessing significant growth owing to the rising health-conscious consumer base demanding easy-to-consume dosage forms of supplements. The rapid pace of social and technological changes has led to unhealthy and hectic lifestyles resulting in increased prevalence of Cardiovascular Diseases (CVDs) and heart problems. The desire and seeming wherewithal to live longer and healthier lives is a huge driver for preventive health measures. The U.S. tops the overall market, in terms of revenue share. Gather more insights about the market drivers, restrains and growth of the Global Gummy Market The expansion of the dietary supplement industry in the country coupled with healthy changes in daily routine owing to increased awareness regarding preventive healthcare has led to a rise in the consumption of gummies. Gummies have a gel-like consistency, are softer in texture, and are easily chewable as compared to hard pills and tablets. Moreover, the product is available in a variety of flavors. All these factors are boosting the product demand across the globe, thereby supporting market growth. Several brands, such as Nature Made, Amway, and Abbott Laboratories, are offering vitamins- and mineral-infused gummies in various flavors, such as strawberry, blueberry, and orange, to attract consumers demanding nutrition without compromising on taste and mouthfeel. The easy availability of substitutes, such as soft gels, lozenges, tablets, and capsules, is likely to restrain the growth of the market. In additi0n, gummies have a lower shelf life as compared to dry supplement powders and pills, which may further hinder product sales. Moreover, gummies have more sugar content than other forms of dietary supplements, resulting in increased calorie intake. Thus, health-conscious customers prefer supplements that are either sugar-free or low in sugar. The outbreak of COVID 19 from the beginning of 2020 severely disrupted the supply chain, retail distribution, and consumer behavior for numerous products across the world. However, the market witnessed a surge in demand during the pandemic owing to increased awareness levels among the consumers regarding health & wellness products. Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports
Gummy Market Segmentation Grand View Research has segmented the global gummy market on the basis of application, end user, distribution channel, and region: Gummy Application Outlook (Revenue, USD Million, 2017 - 2028)
Gummy End-user Outlook (Revenue, USD Million, 2017 - 2028)
Gummy Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
Gummy Regional Outlook (Revenue, USD Million, 2017 - 2028)
Market Share Insights
Key Companies profiled: Some of the prominent players in the global gummy market include:
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