Market Size of Gummy Supplements Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.66 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Gummy Supplements Market Analysis
The Gummy Supplements Market size is expected to grow from USD 9.43 billion in 2023 to USD 13.64 billion by 2028, at a CAGR of 7.66% during the forecast period (2023-2028).
The gummy supplements market is preliminarily driven by the paradigm shift toward preventive health management practices and convenience amid rising healthcare costs and the increasing burden of lifestyle-related diseases. The growing demand for personalized supplement solutions and the development of new product-type formulations to meet these demands is further boosting the market growth.
The growing consumption of multivitamins in different formats is one of the most favorable reasons for the growth of gummy supplements. Also, chewable gummy supplements have a strong preference among most kids, followed by adults, giving more opportunities for manufacturers to innovate in terms of color, taste, and size.
The COVID-19 crisis impacted the overall gummy supplements industry, as many stores were shut down or reduced their business hours. For instance, Walmart announced that it would modify its store hours in response to the pandemic, while other retailers planned to close their stores temporarily. Many companies shortened their working hours to help employees restock shelves overnight and clean stores. However, during the pandemic, online sales surged due to rising consumer interest in exploring alternatives to physical shopping.
