According to a new report Global Gummy Market, published by KBV research, The Global Gummy Market size is expected to reach $37.1 billion by 2027, rising at a market growth of 12.5% CAGR during the forecast period.
The vitamins segment acquired the highest revenue share in the market in 2020. The expanding population of the working-class and shift in lifestyles have possessed a challenge in balancing the nutrition requirement from the consumption of food; hence, the demand for vitamin supplements has also spurred. The rising healthcare costs, increasing aging population and growing awareness about the maintenance of a healthy diet are some of the factors anticipated to bolster the growth of the segment.
Online channels provide more convenience by offering a one-click solution. The expanding young and working-class population along with the rising penetration of smartphone and e-commerce sites is anticipated to bolster the growth of the segment.
The Asia Pacific is projected to garner the fastest growth rate in the gummy market during the forecast period. It is because developing nations are recording a major economic change in the last few years. In addition, an increasing consumer base of health-conscious people is leading to the high consumption of dietary supplements that would bolster the regional market growth. Nations like China, India, and Indonesia, in specific, are fueling the demand for the product. The rising consumer purchasing power along with the availability of various companies is supporting the market growth in these nations.
Full Report: https://www.kbvresearch.com/gummy-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Church and Dwight Co., Inc., The Clorox Company, Nestle S.A., Bayer AG, Hero Nutritionals, Inc., BOSCOGEN, Inc., Lactonova Nutripharm Pvt Ltd., NutraStar Manufacturing Ltd., Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG), and Prime Health Ltd.
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