Functional Gummies Market Size, Share, Growth, and Industry Analysis by Type (Gelatin Gummies and Vegan Gummies), By Application (Vitamin Gummies, DHA and Omega-3 Gummies, Probiotics Gummies, and Other Gummies), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

FUNCTIONAL GUMMIES MARKET REPORT OVERVIEW

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The global functional gummies market size was USD 684.9 million in 2020 and is projected to touch USD 1996.73 million by 2031, exhibiting a CAGR of 10.2% during the forecast period.

Functional gummies are gelatin or pectin-based fruit that are developed and filled with nutrition. Flavors of such gummies can be artificial or natural and the nutritional fortifications are developed with a range of vitamins and minerals. They are also known as fortified or nutraceutical gummies that are chewable in nature equipped with different shapes, colors, sizes, and flavors same as normal gummy candies. They have gel-like consistency and a soft texture and are easily chewable when compared to tablets or pills.   

Functional gummies are on the rise ever since the manufacturers saw the immense popularity of normal gummies and are leveraging that popularity into making healthy snacks. It is targeted at all age groups that have shown interest in consuming healthy gummies which has led to a growth in consumer base globally. It is targeted at consumers who want to manage their nutritional gap and people who want to adopt a healthy lifestyle. Increasing diseases such as high blood pressure, obesity, and diabetes have also led up to the taking up of healthy supplements.

COVID-19 Impact: Rise in Online Sales to Surge Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with functional gummies experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the functional gummies market growth and demand returning to pre-pandemic levels once the pandemic is over.

The outbreak of COVID-19 is already being felt globally, and the global functional gummies market is considerably influenced. In 2020, COVID-19 had a negative impact on many markets. Several countries went into lockdown. With the sudden pandemic, all kinds of businesses witnessed disruptions. With many restrictions in the pandemic, the functional gummies market was also negatively impacted. The stores were forced to shut down and reduction in working hours impacted the sales of gummies. The negative effects on the supply chains hindered the availability of the raw materials required for producing functional gummies. However, the pandemic allowed the online manufacturers to provide functional gummies, the demand from online platforms experienced a sudden surge as there was an increased awareness among the consumers regarding health and healthy lifestyle.

LATEST TRENDS

"Innovative and New Flavors by Manufacturers to Propel Market Demand"

The trend that can impact the global functional gummies market is the innovative, new, and exotic flavors that are being introduced by the manufacturers. Although healthy gummies are gaining traction in the healthcare industry, key manufacturers are introducing new flavors such as orange, lime, cherry, strawberry, and many other new flavors to attract more and more consumers.  lot flavors that are organic and natural are getting introduced due to the health benefits associated with them. There has been a lot of investment and research to formulate a lot of new flavors. This is expected to widen the opportunities for and increase acceptance of gummies as a supplement for vitamins and minerals. Newly introduced gummies are more induced with fruity flavors and are natural flavors. The trend of introducing new, natural, and organic flavors are expected to surge the demand for functional gummies.

FUNCTIONAL GUMMIES MARKET SEGMENTATION

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• By Type

According to type; the market is divided into gelatin gummies and vegan gummies.

Gelatin gummies are the leading part of the type segment as gelatin is extracted from animals. Globally, the gummies manufactured are made from gelatin and it helps in the binding process at the time of production. Gelatin is more economical to obtain than any other source-based.

• By Application

Based on the application; the market is divided into vitamin gummies, DHA and omega-3 gummies, probiotics gummies, and other gummies.

Vitamin gummies are the leading part of the application segment as there has been a growing demand to maintain the nutritional deficiencies.  

DRIVING FACTORS

"Preference for Dietary Supplements to Drive Demand"

The global functional gummies market growth is owed to a rise in preference for dietary supplements. Rising health diseases such as high blood pressure, obesity, and diabetes have given the boost for nutritional gummies. In the coming years, there has been a demand and rising awareness to maintain a healthy lifestyle. An increase in the older population has led to consumers that prefer snacks that are filled with vitamins and healthy ingredients. Consumption of vitamin C, vitamin D, and other vitamins and minerals are beneficial for immunity boosting, which is one of the factors that people want to go for gummy vitamins as they are vitamin induced. The demand for nutritional gummies is also on the rise due to the daily and conscious intake of nutrition by consumers.

"Inclination Towards Go-To and Easy Consumption Supplements to Boost Demand"

The growth of the functional gummies market is also attributed to the millennial generation who have busy work schedules and are facing issues in swallowing pills or tablets. Due to these factors, there has been a high demand for dietary supplements and vitamin-based products that are convenient and easy to consume. Functional gummies have addressed such problems and provided consumers with the solution for go-to consumption with chewable gummies. The pleasant sugary taste of such dietary supplements has also appealed to all segments of the population. 

RESTRAINING FACTORS

"Sugar Imbalance in Gummies to Hamper Market Growth"

Even though there are many factors that can propel the growth of the global functional gummies market. Restraining factors such as striking a balance between sugar and nutrients can be hampering. Along with nutrients, nutritional gummies contain sugar, which can pose a challenge for various other health problems. Regular intake of such gummies can increase the sugar level of diabetic patients. Maintaining a balance between nutrition and sugar can be a challenge for manufacturers, as they are expected to take into consideration several side effects due to overconsumption. These factors can hinder the market growth for functional gummies. 

FUNCTIONAL GUMMIES MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate Market Owing to Increasing Awareness Among Population"

Asia Pacific holds the largest part of the global functional gummies market share. The rise is due to growing increasing awareness of a healthy lifestyle amongst the population. The market has experienced a rise in investments and economic developments from the global key players. In addition to this, there has been a rise in chronic diseases due to dense population and high risks for various health problems due to deficiencies in vitamins which has given rise to the consumption of functional gummies.

North America is also expected to have considerable growth owing to the rising demand for vitamin C and vitamin D supplements. The demand for products that can enhance heart, bone, and overall health stamina are expected to drive the product demand in the market.

KEY INDUSTRY PLAYERS

"Key Players to Boost Demand Leading to Market Growth"

The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for the global functional gummies market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Nutra Solutions (U.S.)
• Hero Nutritionals (U.S.)
• Santa Cruz Nutritionals (U.S.)
• Superior Supplement Manufacturing (U.S.)
• Bettera Wellness (U.S.)
• Better Nutritionals (U.S.)
• Makers Nutrition (U.S.)
• ABH Natures (U.S.)
• SMP Nutra (U.S)
• Vitakem Nutraceutical (U.S.)
• Herbaland (Canada)
• Cava Pharma (Canada)
• Prime Health (U.S.)
• NutraLab Corp (Canada)
• Procaps (Funtrition) (Colombia)
• VitaWest Nutraceuticals (U.S.)
• Amapharm (Germany)
• ParkAcre (U.K.)
• Seven Seas Ltd (U.K.)
• Allsep’s (Austarlia)
• Long Island Nutritionals (LIN) (U.S.)
• Sirio Pharma (China)
• Jiangsu Handian (China)

INDUSTRY DEVELOPMENT

• February 2022: Amway India has launched and introduced nutritional supplements in the simplified format of gummies and jelly strips. The new range of products will be designed for young millennials as their go-to nutrition supplements.

REPORT COVERAGE

This research profiles a report with widespread studies that take into an explanation of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.