Gummy market to surpass US$6.7 billion valuation by 2031
Gummy Market: Introduction
The popularity of gummies among consumers of all age groups leads to a surge in its demand over the forecast period. An increase in the demand for gums is expected in most developing countries, especially in Asia-Pacific countries.
North America holds 30.9% of the gummy marketwhose value is estimated at US$ 1,156.7 Min in 2021and increasing at a CAGR of 5.8%to reach US$ 2,023.7 min by 2031.
Easy accessibility on e-commerce platforms enhancing gum sales
The gelatin market has relatively increased due to the penetration of internet all over the world; E-commerce has become an easily accessible and convenient sales channel for a variety of items. The increasing use of mobile phones is another reason driving online sales of dietary supplements such as gummies. Many manufacturers and merchants have implemented online shopping options on their websites and other popular e-commerce channels.
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Due to the various discounts offered by online retailers through this channel, consumers are more and more inclined to buy these products online. Many companies are investing in the development of new platforms to increase their sales and updating their applications to improve the customer experience.
- Companies such as Unilever are investing in the development of new e-commerce and B2B platforms to accelerate growth by applying consumer knowledge and intelligence
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Increase in the use of disease prevention supplements to drive demand in the gummy market
Dietary supplements are increasingly popular among consumers as a means of avoiding health problems and meeting dietary needs. Dietary supplements are consumed by an increasing number of customers, especially baby boomers, to prevent conditions such as osteoporosis, cardiovascular disease and other chronic diseases.
Additionally, people use health supplements to ward off common illnesses such as colds and intestinal problems. As a result, the global demand for dietary supplements that prevent disease has increased dramatically over the past few years. Due to the increasing frequency of dietary deficiencies and chronic diseases associated with vitamin deficiency, consumers around the world are focusing on preventive health care.
- More than 75% of India’s population suffers from vitamin deficiency, according to a survey released by Metropolis Healthcare in 2017, which was conducted over three years in India. These factors are expected to increase the global demand for vitamin consumption, which will drive the gum market.
Increase in promotional and marketing activities leading to increased use of supplements to provide growth opportunities in the gummies market
Companies around the world are incorporating more natural vitamin sources into their offerings. The use of vitamins of biological origin is increasingly popular and this trend is expected to accelerate in the future. Marketplace companies are increasing their marketing and promotion budgets in response to this.
Increased study of vitamin deficiency and its consequences along with targeted marketing based on age groups and geographies are likely to propel the gummies market over the forecast period. Consumer awareness of vitamin insufficiency and its potential health consequences has led to increased use of preventive health care. These factors will increase the potential for the expansion of the gummy market in the future.
- HerbalandNaturals, LLC. has partnered with several bloggers and influencers to promote its products to customers. The company has two different promotional programs called the Ambassador Program and Paid Partnerships.
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Segmentation of the global chewing gum market
Gummy Market by Source
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