Nutraceutical gummies sales will rise exponentially in the coming years, as consumers continue exhibiting increasing focus on health and wellness. As per a study by Future Market Insights (FMI), the nutraceutical gummies market will reach a valuation of US$ 24.54 Bn in 2021.
Sales are projected to skyrocket as the demand for healthcare supplements continues rising to fulfil lack of nutrition in regular diet. The increase in the working population and their rising income have become one of the key drivers of the market.
Gummies are likely to dominate the dietary supplements landscape in the coming years. With focus on health and wellness growing in response to the increasingly hectic lifestyle, consumers are likelier to rethink their diet choices.
As per the report, in terms of nutritional class, the demand for gummies rich in vitamin and mineral content is expected to be higher. It is expected to constitute the leading segment based on nutritional class and account for nearly 43.8% of the sales in the market in 2021.
While developed countries are likely to be at the forefront of this trend, emerging economies will soon catch up. Besides change in lifestyle, higher spending power will make consumers in emerging countries more willing to spend on health supplements.
Key Takeaways from the Nutraceutical Gummies Market Study
- Nutraceutical gummies market is expected to rise at an impressive 15% CAGR between 2021 and 2031
- Expansion of dietary supplements sector will push sales in the U.S., which is expected to account for over 87% of the North America market in 2021
- Backed by government initiatives to encourage healthy living, the U.K. market will register a little below 15% y-o-y growth in 2021
- Consumers in Germany and France are adopting a preventive attitude as they realize the importance of maintaining a strong immune system. This will create opportunities for nutraceutical gummies sales
- Focus on healthy living will drive growth in Japan and South Korea. With ecommerce sector thriving due to home seclusion amid pandemic, sales are poised to surge in both countries
“Market players are likely to focus on product launches to sway discerning consumers in the favor of their brand. Various combination of flavors, shapes, and colors of nutraceutical gummies are expected to make entry into the market attracts consumers,” said a lead analyst at FMI
Inclusion of Organic ingredients
Consumers have become increasingly interested in improving their health through their diet over the past few years. This has led to the development of several entirely new additions in the food and beverage industry such as sugar-less, organic, and calorie-free variants.
Primary focus of healthy eating is reduction of chemical additives in food and beverage products, which has influenced nutraceutical manufacturers to divert their conventional supplement production into organic and natural nutraceutical production through organic certified grains.
Who is winning?
Innovation has become a cornerstone of growth strategies adopted by companies operating within the nutraceutical gummies market. Producers are likely to focus on innovation in terms of flavor, size, and packaging to make their presence felt in the highly competitive nutraceutical gummies market.
Some of the leading companies offering nutraceutical gummies are Bayer AG, Zarbee’s, Inc., Sanofi S.A., Nature’s Bounty Co., Otsuka Holdings Co., Ltd., SmartyPants Vitamins, Church & Dwight Co. Inc., Olly Public Benefit Corporation, Life Science Nutritionals, The Honest Company, Inc., Pfizer, Nature’s Way, and other.