The global gummy market valued at $21.4 billion in 2022, is expected to hit $24.3 billion in 2023, growing at an 11.8% CAGR to reach $74.4 billion by 2033. CBD gummies are driving this surge, with consumers seeking potential health benefits, stress relief, and relaxation. The market is also fueled by inclusive options like vegan and allergen-free gummies, appealing to diverse dietary preferences.
The global gummy market amount reached $21.4 billion US in 2022. Sales of gummies are expected to bring in US$ 24.3 billion in revenue in 2023. Sales are expected to climb by 11.8% CAGR between 2023 and 2033, according to the prediction. By the end of 2033, demand is expected to surpass US$ 74.4 billion US.
The market for CBD gummies is projected to develop as a result of consumers’ increasing interest in CBD and hemp products due to its possible health advantages. These candies are frequently advertised as aiding in stress reduction and relaxation. Demand has also been fueled by dietary constraints and inclusivity. Gummy choices that are vegan and allergen-free appeal to a wider range of consumers, including those who have dietary preferences or constraints.
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Businesses are utilising the trend of health and wellness in their advertising campaigns. Gummies are frequently marketed as an enjoyable but health-conscious option, appealing to customers looking to strike a balance between dietary requirements and enjoyment. Gummies are popular among busy people searching for a quick and wholesome snack because they are portable.
Gummy products can now be found in health food stores, mainstream supermarkets, and online marketplaces, making them more accessible to a wide consumer base. The health and wellness trend is wider than a specific region, driving the demand for gummy products on a global scale. Manufacturers are expanding their reach to meet the growing demand in various markets.
Consumers increasingly seek unique and exotic flavors in gummies, prompting manufacturers to expand their offerings beyond traditional options such as strawberry and cherry. Gummy manufacturers are experimenting with innovative ingredients like superfoods, botanical extracts, and functional additives. They are likely to create unique taste profiles that cater to health-conscious consumers.
Personalized gummy products, where consumers can choose their preferred flavors and ingredients, are becoming more popular, allowing for a unique taste experience. Gummy vitamins and supplements with unique flavor profiles are gaining traction as consumers seek enjoyable ways to meet their nutritional needs.
Key Takeaways from the Gummy Market Study:
- Sales of gummies escalated at 9% CAGR during the historical period 2018 to 2022.
- By product, the vitamins segment is set to witness an 7% CAGR from 2023 to 2033.
- Based on ingredients, the gelatin division is projected to register a 5% CAGR between 2023 and 2033.
- The United States is estimated to account for a significant valuation of US$ 12.8 billion by 2033.
- China is set to register a sum of US$ 11 billion by 2033 in the global gummy market.
“Rising demand for different flavors and textures is likely to drive demand for gummy in the global market. Key manufacturers are researching and innovating in flavors and core ingredients to diversify their product offerings. Customer demand for novel textures and sensory experiences is expected to remain a constant influence on the market through.” says a lead Future Market Insights (FMI) analyst
Competitive Landscape:
Key manufacturers emphasize the health benefits of their gummy products, promoting them as a convenient and tasty way to consume vitamins, minerals, and other supplements. As consumers become more environmentally conscious, manufacturers may implement sustainability practices in their supply chains, such as using eco-friendly packaging materials and sourcing responsibly.
Gummy Market Recent Developments:
- In August 2023, Procaps Group, S.A. announced the release of a brand-new white paper on gummy goods and its ground-breaking gummy technology.
- In May 2022, With the introduction of Pushing Pop Gummy Pop-its, Bazooka Candy Brands continues revolutionizing the confectionary sector. A new gummy invention will be introduced at the Chicago-based Sweet & Snacks Expo this year.
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Gummy Market Outlook by Category
By Product:
- Vitamins
- Minerals
- Carbohydrates
- Omega Fatty Acids
- Proteins & Amino Acids
- Probiotics & Prebiotics
- Dietary Fibers
- CBD/CBN
- Psilocybin/Psychedelic Mushroom
- Melatonin
- Others
By Ingredient:
- Gelatin
- Plant-based Gelatin Substitutes
By End-use:
- Adults
- Men
- Women
- Pregnant Women
- Geriatric
- Kids
By Distribution Channel:
- Offline
- Hypermarkets/Supermarket
- Pharmacies
- Specialty Stores
- Practitioner
- Others
- Online
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and the Pacific
- Middle East and Africa
Get More Valuable Insights on Gummy Market
FMI has released an objective assessment of the global gummy market, presenting past demand data from 2018 to 2022 and projecting forecast statistics for 2023 to 2033.
Gummy market by product (vitamins, minerals, carbohydrates, omega fatty acids, proteins & amino acids, probiotics & prebiotics, dietary fibers, CBD/CBN, psilocybin/psychedelic mushroom, melatonin, and others), ingredients (gelation and plant-based gelatin substitutes) end use (adults and kids), distribution channel (offline and online) across different region from 2023 to 2033
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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