Vitamin Gummy Market Trends to Watch
As the year comes to an end we’re keeping an eye on the market trends going into 2021. This year has been a great year for the supplement industry; Next year is expected to keep up the fast paced growth. You do not want to miss out on the opportunities that are on the horizon for vitamin gummies!
Vitamin Gummies Market Growth
Image Courtesy of Markets and Markets
The vitamin gummies market has been growing at an incredible rate for the last few years. That fast paced growth is projected to continue. According to Markets and Markets, “the global gummy vitamins market size is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 10.6 billion by 2025, recording a CAGR of 12.5%.”
A 12.5% growth rate is nothing to sneeze at! It’s too late to get in on the gummies market, the answer is no! With so much growth potential still to come there’s no reason not to utilize gummy vitamins to grow your supplement business.
While gummy vitamins were initially thought to be just for children, adults have also taken a liking to them. In fact it’s adults that continue to drive the market.
Markets and Markets also states that, “The millennials prefer consuming these gummies due to factors such as busier lifestyles, rising disposal [sic.] incomes, growing awareness regarding preventive healthcare measures, and maintaining better health.”
Vitamin Gummies Global Trends
Vitamin gummies aren’t just growing in popularity in the United States but around the globe as well. According to New Hope, “As with the U.S., gummies are becoming a more common sighting in markets throughout Asia and command a premium price compared to pill-based forms.”
One possibility for the growing global demand of vitamin gummies is the growing interest in health around the world. Markets and Markets states that, “Other factors driving the demand for these gummy vitamins include the rise in incidences of vitamin deficiencies and undernourishment problems in developing and underdeveloped countries.”
As noted above, not only do vitamin gummies have amazing growth potential they can also command a premium price compared to pill forms of supplements. This is a huge advantage to selling vitamin gummies that you just can’t ignore. Vitamin gummies can help you to increase average order value.
The Takeaway
The vitamin gummies market has been growing for the last few years and it’s not stopping anytime soon! With a big year ahead now is a great time to start selling private label vitamin gummies. They’re a simple and easy way to help grow your supplement business.