Gummy supplements are gel-like nutritional supplements or vitamins that come in the shape and size of gummy candies. They offer the convenience of taking daily multivitamins or other supplements in an enjoyable way. Gummy supplements contain the same essential vitamins and minerals as regular tablets and capsules. However, they are easier for anyone to consume, especially children and people who have difficulty swallowing pills.

The global gummy supplements market is estimated to be valued at US$ 4093.89 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity of increasing demand for daily nutritional supplements is estimated to propel the growth of the gummy supplements market over the forecast period. Gummy supplements are gaining popularity as an alternative to traditional supplement forms like tablets or capsules, especially among millennial and older generation consumers. Factors like enjoyable flavors and colors along with easy to consume texture is increasing the preference for gummy supplements among daily supplement users. With rising health awareness, consumers are actively considering preventive healthcare and daily vitamin intake through convenient supplement forms like gummies. This rising demand for nutritional vitamin supplements in delicious chewable or gummy forms is expected to drive the gummy supplements market growth during the forecast period.

Porter's Analysis
Threat of new entrants: The threat of new entrants in the gummy supplements market is low as this market requires significant R&D investments and manufacturing capabilities to produce gummy supplements. However, the market growth is attracting new smaller players.
Bargaining power of buyers: The bargaining power of buyers in the gummy supplements market is high given the availability of supplements from different vendors and brands. Buyers can switch to alternatives easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials including vitamins, minerals and other ingredients are available from different suppliers globally.
Threat of new substitutes: The threat of substitutes is high as alternatives like tablets, capsules and liquids are easily available in the dietary supplements market.
Competitive rivalry: The competitive rivalry in the market is high given the presence of many global and local players offering similar gummy supplement products.

SWOT Analysis
Strength: Gummy supplements have gained popularity due to their taste and ease of consumption. The global market is driven by increasing health awareness among consumers.
Weakness: Some gummy supplements may contain high sugar content which can affect health. Smaller players have limited production capacities and distribution networks.
Opportunity: The growing focus on preventive healthcare and immunity boosting supplements post pandemic offers scope for product launches and market expansion. Emerging countries will drive future demand.
Threats: Stringent regulatory guidelines and certification processes increase compliance costs. Supply chain disruptions and fluctuations in raw material prices are challenges.

Key Takeaways

The Global Gummy Supplements Market Size  is expected to witness high growth during the forecast period supported by favorable consumer trends and demand for chewable formats. The global gummy supplements market is estimated to be valued at US$ 4093.89 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.

Regional analysis shows that North America currently dominates the market followed by Europe and Asia Pacific. The United States accounts for the largest share in the region owing to busy lifestyles, health awareness and spending power of consumers.

Key players operating in the gummy supplements market are Diebold Nixdorf, Inc., DXC Technology, ECR Software Corporation, Fujitsu, ITAB Group, NCR Corporation, Pan-Oston Corporation, ShelfX Inc., Slabb Inc., and Toshiba Global Commerce Solutions. The gummy format has paved way for product innovations catering to specific population segments like children, adults, pregnant women among others. Companies are investing in R&D to develop supplements addressing various health conditions and wellness needs. Strategic collaboration with retailers and e-commerce channels will broaden the reach in future.

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