Gummy Supplements Market to be Worth USD 16,510.39 Mn by 2028 Driven by Rising Concerns About Fitness Amongst the People

Gummy Supplements Market: Rising Awareness Related to the Advantages of Consuming Gummy Supplements to Fuel the Industry Growth

NEW YORK, NEW YORK, UNITED STATES, February 22, 2023 /EINPresswire.com/ -- The scope of our recent study, titled “Gummy Supplements Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Digestive Health, Heart Health, Immune Health, Stress Management, Brain Health, Skin Health, Healthy Ageing, Sports Nutrition, Weight Loss, Multivitamins, Single Vitamins, Probiotics, Men’s Health, Women’s Health, and Others), and End User (Adults and Kids)” consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The gummy supplements market is projected to reach US$ 16,510.39 million by 2028 from US$ 9,467.04 million in 2021. It is expected to grow at a CAGR of 8.3% during 2021–2028. Consumers worldwide are becoming aware of the health benefits of different types of gummy supplements. A rise in consumption of gummy supplements has been observed due to an increase in the number of disease occurrences, boosting the market.

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Gummies are one of the fastest-growing trends in dietary supplements, and their growth is attracting new entrants. Contract manufacturers for gummy supplements are now receiving orders for products that move beyond conventional nutritional ingredients, such as minerals and vitamins. The change in ingredients is prompting continual innovation in gummy processes and formulas. Manufacturers are working on organic and non-GMO claims, reducing artificial ingredients, animal ingredients, and sugar in gummy supplements. The gummy supplements market has key players constantly working on product innovation that require niche expertise, production capacity, and suitable equipment. The increasing differentiated product offerings in gummy format are expected to fuel market growth over the forecast period.For instance, according to the National Health and Nutrition Examination Survey, in 2017–2018, 57.6 percent of adults aged 20 and up reported using nutritional supplements, including supplements in gummy format. Additionally, multivitamin supplements were the most often used supplements across all age groups, followed by vitamin D and omega-3 fatty acid supplements. In addition, supplements use increased with age in both genders but was highest in women aged 60 and older (80.2%). All these factors are playing a key role in driving the growth of the gummy supplements market.

The global gummy supplements market is segmented into five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. In 2020, North America accounted for the largest share of the market, while Asia Pacific accounted for the highest growth rate over the forecast period. The rising healthcare expenditure and the increasing popularity of gummy supplements are among other drivers for the nutritional supplements market in North America. For instance, according to the American Medical Association (AMA), healthcare expenses are rising at a rate of around 4.5% each year. Healthcare spending in the US climbed by 4.6% in 2019 to US$ 3.8 trillion, or US$ 11,582 per person.

As the pandemic continues, consumers are placing an even greater emphasis on preventative health regarding food choices. Consumers are giving more importance to the health profile of products in the times of COVID-19, which is further boosting the gummy supplements market.

Impact of COVID-19 Pandemic on Gummy Supplements Market

The significant disruption in manufacturing facilities, along with raw material sourcing, has had a negative impact on the demand for gummy supplements. However, the growing consumer focus on health and wellbeing is also expected to promote the demand for gummy supplements over the next few years.

As per an article published by National Center for Biotechnology Information (NCBI), the presence of poor nutritional dietary patterns, along with pre-existing noncommunicable diseases (NCDs) such as diabetes, chronic lung diseases, and cardiovascular diseases (CVDs), made the COVID-19 affected patients immune-compromised. Gummy supplements are used to strengthen immunity. Gummy supplements are available for multiple functions and in various types, such as vitamins, multivitamins, immunity-boosting, and general health & wellness. Gummy supplements are, therefore, increasingly being consumed to build immunity by correcting deficiencies and strengthening the body’s ability to fight the disease.

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The report includes the segmentation of the global gummy supplements market as follows:

By type, the gummy supplements market is segmented into digestive health, heart health, immune health, stress management, brain health, skin health, healthy aging, sports nutrition, weight loss, multivitamins, single vitamins, probiotics, men’s health, women’s health, others. By end user, the market is segmented into adults and kids. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The gummy supplements market in Europe is sub segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is sub segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The gummy supplements market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South and Central America is sub segmented into Brazil, Argentina, and the Rest of South and Central America.

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