Gummy Vitamins Market Gains Underpinned by Widespread Prevalence of Vitamin Deficiency
[170 Pages Report] Gummy Vitamins Market research report Segmented By Product Type (Single Vitamin Gummy, Multivitamin Gummy, Probiotic Vitamin Gummy), By Customer Orientation (Children, Adult), By Source Type (Animal Based, Plant Based), By Distribution Channel (Bottles & Jars, Stand-Up Pouches, Other), By Sales Channel (Direct Sales, Modern Trade, Convenience Stores, Departmental Store, Specialty Store, Drug Store/Pharmacies, Online Retailers, Others), & by Region.
[UKPRwire, Fri Sep 06 2019]
The gummy vitamins market remains consolidated at the bottom with regional players holding over half of the overall market share. Increasing demand for vitamin supplements to overcome nutritional deficiencies has triggered a stiff competition amongst market forerunners and emerging players. To capitalize on the growing demand for vitamin supplements, companies are expanding their manufacturing facilities, while acquiring other local companies to gain a competitive edge. Further, these companies are launching new product lines offering consumers a variety of flavors while providing an increased nutritional value. The competition is further expected to intensify as both confectionery companies and vitamin supplement enterprises venture into the gummy vitamins market. The constant tussle to improve nutritional quality, while providing palatable flavors, is one of the key causes that is allowing new and emerging players to lure in extensive consumer base, which is constantly on the lookout for flavorful vitamin supplements.
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Anticipating the exponential rise in the demand for gummy vitamins around the world, SIRIO Pharma and Co., a company which specializes in the manufacturing of nutraceuticals, opened a 26,000-sq-meter plant to increase its gummy vitamin production to over 2 billion gummies per year. The company plans to utilize the facility to launch multiple standards of formulation such as sugar-free, low sugar, and vegan options in the U.S. and European markets.
Vitamin or micronutrient deficiency is one of the most prevalent health concern among the global population. According to a recent report by WHO, over 2 billion people around the world suffer from micronutrient deficiency. This widespread prevalence of vitamin deficiency can be attributed to various factors that range from chemical and mechanical alterations in natural food, to lax nutritional and labelling requirements. The changing dietary patterns of consumers worldwide has put them at a greater risk of micronutrient and vitamin deficiency. Severe health concerns have been associated with vitamin deficiency, including beriberi, rickets, scurvy, and anemia, apart from impacts on pediatric physical and mental development, and neurological problems. These concerns have been advocating the consumption of vitamin supplements among consumers, in line with surging health & wellness trend. Future prospects for gummy vitamins market are envisaged to be promising, as these health supplements gain ubiquitous acceptance among adults and children alike, with manufacturers’ efforts toward development of flavored gummy vitamins while retaining their efficacy.
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The gummy vitamins market continues to witness product diversification, with consumer demand for new flavors and ingredients in these supplements. In order to expand their footprint in the gummy vitamins market, companies are introducing a variety of products with added nutritional value. Apart from the basic chewable multivitamins, companies are offering gummies with ingredients such as probiotics, omegas, and other immunity-boosters. Other unique offerings include organic gummies, vegan gummy vitamins, and wheat and gluten-free vitamin supplements. Additionally, leading gummy vitamins manufacturers on novel flavor offerings that range from grape to cherry and orange, to meet the varying consumer needs for taste. Added health benefits coupled with the different flavors continues to remain a key growth strategy of gummy vitamins market players.
Manufacturers often use sugar and other artificial flavorings to cover up the natural taste of vitamins. Moreover, the use of preservatives to increase the shelf life of products is a common practice. However, researches have linked sugar and other artificial substances used in the manufacturing of gummy vitamins with multiple health problems which have raised questions on the effectiveness and benefits of vitamins. Moreover, recent research alluded most gummy vitamins to contain either exceeding or limited quantities of vitamins. In addition to these potential inconsistencies, excessive consumption of gummy vitamins is linked to a plethora of health problems some of which include frequent urination, increased calorie intake, and side effects due to consumption of enormous quantities of vitamins. Due to these factors, numerous organizations are questioning the effectiveness of gummy vitamins. Manufacturers face a colossal challenge of improving the nutritional value offered by the vitamins while keeping the flavors intact.
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