Gummy Market Revenue to Reach USD 58.9 Billion by 2031, Growing at 12.4% CAGR

The global Gummy Market, valued at USD 20,570.11 million in 2022, is poised for significant growth, projected to reach USD 58,900.32 million by 2031, growing at a compound annual growth rate (CAGR) of 12.4% from 2023 to 2031. Gummy products, traditionally known for their candy-like appeal, have found a prominent place in the health and wellness sector. The increasing demand for dietary supplements, especially in gummy form, has helped position the gummy market as a rapidly expanding segment of the overall functional foods industry.

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Industry Dimensions

The gummy market refers to the production, distribution, and consumption of gummy-based products used primarily in the health and wellness sector. These products include gummies made with various nutritional supplements such as vitamins, minerals, omega fatty acids, proteins, and other functional ingredients. Gummies are typically marketed as an easy, tasty, and convenient way to consume nutritional supplements, particularly for those who struggle with pills or capsules.

• Market Size & Value: The global gummy market size was valued at USD 20,570.11 million in 2022 and is expected to reach USD 58,900.32 million by 2031. This robust growth highlights the increasing popularity of gummies as a preferred form of supplement delivery.
• Growth Rate: The market is expected to grow at a CAGR of 12.4% during the forecast period (2023–2031). The growth is primarily driven by rising awareness of health and wellness, consumer preference for convenient supplement options, and increasing product innovations in the gummy segment.

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Regional Trends

North America

• Market Share: North America is one of the leading regions in the gummy market, especially in the United States. The region’s market dominance is driven by the growing demand for supplements in gummy form, particularly among adults. High awareness of health and wellness trends and a focus on maintaining daily nutritional requirements have made gummies a go-to choice for American consumers.

Asia-Pacific (APAC)

• Market Share: The APAC region is experiencing the highest growth rate due to increasing disposable incomes, rising health awareness, and the growing popularity of gummies in countries like China, India, and Japan. As consumers shift towards more health-conscious lifestyles, the demand for functional food products like gummy supplements is growing.

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Gummy Market Segmentations

By Supplement Application

1. Vitamins: The largest segment, driven by the rising demand for essential vitamins such as vitamin C, D, and multivitamins.
2. Minerals: Includes supplements like calcium, magnesium, and zinc, which are gaining popularity for their role in bone and immune health.
3. Omega Fatty Acids: With increasing awareness of heart health, omega-3 and omega-6 fatty acid gummies are growing in demand.
4. Proteins: Protein-rich gummies are becoming popular, especially among fitness enthusiasts and athletes.
5. Others: Includes gummies with other functional ingredients such as collagen, antioxidants, and probiotics.

By End-User

1. Adults: The dominant end-user segment, with gummies formulated for energy, immunity, and overall health.
2. Kids: Gummies for children are designed with appealing flavors and nutrients such as vitamins and minerals.

Top Players in the Gummy Market

1. Procaps Group
2. Sirio Pharma Co. Ltd. Inc.
3. Bettera Brands LLC
4. Nutravail LLC
5. Supplement Factory Ltd

Conclusion

The gummy market is undergoing rapid transformation, fueled by the growing demand for convenient, effective, and enjoyable health supplements. With a projected CAGR of 12.4% from 2023 to 2031, the market is set to continue expanding, with North America, APAC, and Europe leading the charge. As consumer preferences evolve, the gummy market is expected to witness increased innovation, particularly in product formulations and flavors, solidifying its place in the health and wellness industry.

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