The global gummy market is experiencing significant growth, with a projected value of USD 23.93 billion in 2023 and an expected compound annual growth rate (CAGR) of 11.8% from 2024 to 2030. Several factors are driving this growth, including the increasing demand for functional and fortified gummies, the availability of gummy supplements in various flavors that cater to consumers seeking both taste and health benefits, and the rising demand for natural and vegan gummy products. Additionally, the convenience and ease of use of gummies as a delivery format for a wide range of active ingredients, such as vitamins, minerals, and supplements, is further propelling the growth of the global gummy industry.
Consumer preferences in the food and supplement market are evolving rapidly. There has been a notable surge in consumer demand for nutraceutical products in recent years, driven by growing health awareness and concerns about the negative impacts of processed foods and artificial ingredients. Consumers are increasingly seeking products that not only taste good but also provide additional health benefits. This trend is particularly evident in the gummy industry, where consumers are actively looking for functional and fortified gummies containing vitamins, minerals, and other essential nutrients. The rising demand for these types of gummies can be attributed to the growing awareness of the importance of maintaining good health through proper nutrition. People are becoming more informed about the specific nutrients their bodies require and are seeking convenient and enjoyable ways to supplement their diets.
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Ingredient Segmentation Insights
Gelatin, a key ingredient in gummy candy, dominated the market in 2023, capturing a significant 67.8% revenue share. Its popularity stems from several factors: its versatile texture, cost-effectiveness, widespread availability, stability, and compatibility with other ingredients. This compatibility allows manufacturers to create functional gummies enriched with vitamins, minerals, and flavors, catering to consumers seeking added health benefits.
Moreover, gelatin gummies offer a familiar, chewy, and soft texture that resonates with many consumers. Their texture closely resembles traditional gummy candy, making them enjoyable to eat. Additionally, gelatin gummies exhibit good stability, resisting changes in temperature and humidity, ensuring suitability for storage and transportation.
However, the landscape is evolving. Plant-based gelatin substitutes are projected to witness substantial growth, with a CAGR of 11.8% from 2024 to 2030. This growth is fueled by increasing health and sustainability concerns, coupled with shifting dietary preferences. Consumers are increasingly conscious of their health and environmental impact, seeking products aligned with their values. Plant-based gummies emerge as a healthier and more sustainable alternative to gelatin gummies, which are derived from animal products. Furthermore, the growing vegan and vegetarian population demands gummies that adhere to their dietary restrictions. Plant-based gummies, free from animal-derived ingredients, provide a suitable solution for these consumers.
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