Vitamin Gummy’s Market Predictions to Watch
Interest in vitamin gummies has been growing for years now. While they may have started out as children’s vitamins, adults quickly caught on to how amazing vitamin gummies really are. The good news is that this popular new niche of supplements is still growing!
According to a new report from Future Market Insights (FMI), the worldwide vitamin gummies market value is projected to grow at a “healthy” CAGR of 5.1% between 2019-2029. That’s exciting news for anyone looking to carve out their own space in this ultra competitive market.
Growth Drivers to Watch
So what’s driving this growth moving forward? Good question! According to FMI there are quite a few factors that will be influencing and driving this growth over the next few years. Two of the biggest trends that will drive this growth will be vegan and probiotic trends.
In addition, FMI says that growth will be triggered by, “consumers who seek to balance health aspects such as folic acid, metabolic health and glycaemic index… in a bid to tackle issues such as bone strength, immunity, and nutrient deficiencies.”
Not only that, e-commerce is another factor that they predict will continue to drive growth. You might think that the benefits of e-commerce are tapped out but you’d be wrong. FMI says that supplement companies have yet to take full advantage of the higher rates of profitability that e-commerce provides compared to brick and mortar.
Key Market Insights
- Multivitamin gummies are forecasted to maintain a dominant market share of more than 63%.
- Probiotic gummies are predicted to grow very quickly with a CAGR of more than 6%
- Vegan/vegetarian gummies will also grow very quickly with a CAGR of more than 6%
- Online sales will grow faster than brick and mortar with a CAGR of more than 7%
Despite the fact that the supplement industry has seen so much growth in the last decade there hasn’t been a lot of innovations until vitamin gummies came along. So it’s not hard to see why vitamin gummies have taken such a hold in the market so quickly.
According to an FMI analyst, “Conventional vitamins and dietary supplements have been in the market for a long time. However, gummy vitamins have gained traction rapidly among adults and young children as well in recent years.
This can be attributed to the fact that gummy vitamins provide not only provide high nutritional values but also enable easier and safer consumption.”
The Takeaway
If you’re not selling vitamin gummies online then you’re missing out on potential growth. This is a niche that has grown a lot and it’s not slowing down anytime soon. It’s up to you to act on these key insights and take action.
Here at Vitamin Gummies we can help you do just that! We offer a wide variety of vitamin gummies for wholesale and private label that tap into these expert predictions including probiotics and vegan formula gummies.