Gummy Vitamins Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030 It is important to recognize that one cannot be shielded from COVID-19 by supplementation, diet or major lifestyle changes other than social distancing and good hygiene practices. However, the general idea of vitamin gummies making the immune system stronger is creating growth prospects for the overall market. Gummy vitamins and other vitamin offering sections in supermarkets and convenience stores are lying empty with claims on social media that Vitamin infused products can help boost immunity amid COVID-19. However, the flow of gummy vitamins from one channel to another continues to be limited due to vehicle shortages, lack of manpower and numerous state laws enacting lockdowns. Determining the impact of Covid-19 on the outlook for demand for gummy vitamins will be premature. The global pandemic, however, has put up some roadblocks for a stable growth of the global gummy vitamins market Appetizing Formulations to Boost Gummy Vitamins Market Growth The change from gelatin and sugar gummies to vegan and sugar-free gummies is expected to bring intrinsic opportunities in the market for gummy vitamins. Thus, gummy vitamins market is estimated to rise at a growth rate of over 5.5% between 2020 and 2030. Owing to their ease of use and variety of unique flavors, vitamin consumers are moving from conventional pills to gummy vitamins. Innovative goods like hemp based gummies and pet-oriented gummies have hit the market to cater for the consumer's inclination towards vitamin sources with additional attributes. However, due to the Covid-19 outbreak the retail sector in several countries like India have locked down with no sales flow. The supply of gummy vitamins and other medicinal products have also taken a big hit as authorities fail to deliver and ensure necessary supplies. North America Leads While APEJ and MEA Slated for High Growth While being common in developed regions, gummy vitamins in developing economies are still in their nascent phase. North America holds the highest share in gummy vitamins market, accounting for more than 25% of the total market share in terms of value. APEJ presents the highest potential for growth, projected at 2.0X over its current market value. Amid the Covid-19 outbreak, the high acceptance of gummy vitamins in developing regions is leading manufacturers to prioritize on digital commerce leading to increased intake of dietary supplements such as gummy vitamins. Inorganic Development Strategies Followed by Gummy Vitamin Manufacturers The global gummy vitamins market is highly fragmented, with top players accounting for 1/5th of the overall market share. Majority of the key players in gummy vitamins market like Pharmavite LLC, Nutranext, LLC and Life Science Nutritionals Inc. are working collectively with several subsidiaries like Otsuka Pharmaceutical, The Clorox Company and Sara Lee Corporation.
Some of the key developments in the gummy vitamins market are:
In March 2020, American Startup, 16VIT, launched a range of gummy vitamin supplements attributed to modern day gamers. With the increasing number of supplements, energy drinks and multivitamins focusing high intensity gamers, the company is positioning to tap into an ever-growing vitamin supplement market for gamers by offering different vitamin products focused for gamers. In March 2020, San-Fransico-based brand OLLY launched its gummy vitamin supplements in Singapore, after the company was purchased by Unilever in 2019. Before its launch, Olly's gummy vitamins were available only in Target stores and in the U.S. via Amazon. In March 2020, Church & Dwight Co. Inc., with its VitaFusion brand launched six new gummy vitamin products targeting immunity and skin disorders Amidst the Covid-19 outbreak, although most players have been able to withstand the closure of factories because they have inventories on hand to mitigate short-term supply interruptions, any effect on the supply chain of gummy vitamins will only be felt if COVID-19 continues to have an effect after mid-April