The Future of Gummies: Market Anticipated to Grow at 11.8% CAGR to Reach USD 74.4 Billion by 2033

The global gummy market size reached USD 21.4 billion in 2022. Revenue generated by gummies sales is likely to be USD 24.3 billion in 2023. In the forecast period between 2023 and 2033, sales are poised to soar by 11.8% CAGR. Demand is anticipated to transcend to USD 74.4 billion by 2033 end.

The growing interest in CBD and hemp products for their potential health benefits will likely help expand the CBD gummy market. These gummies are often marketed as promoting relaxation and stress relief. Inclusivity and dietary restrictions have also played a role in driving demand. Vegan and allergen-free gummy options cater to a broader audience, including those with dietary restrictions or preferences.

Companies are leveraging the health and wellness trend in their marketing strategies. Gummies are often promoted as a fun yet health-conscious choice, appealing to consumers seeking a balance between enjoyment and nutrition. Gummies are convenient for on-the-go consumption, making them popular for busy individuals looking for a quick and nutritious snack.

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 13.9% CAGR during the historical period 2018 to 2022.
By product, the vitamins segment is set to witness an 11.7% CAGR from 2023 to 2033.
Based on ingredients, the gelatin division is projected to register a 11.5% 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.

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.

Key Companies Profiled in the Gummy Market

Procaps Group;
Santa Cruz Nutritionals;
Amapharm;
Herbaland Canada;
Allseps Pty. Ltd.

Gummy Market Recent Developments:

In March 2023, Akums Drugs & Pharmaceutical Limited made its foray through the nutraceutical gummies industry with unique formulations for wellness and common diseases.
In July 2023, The entry of Dr. Reddy's Laboratories into the field of child nutrition. The product aims to alleviate nutritional needs caused by concerns with kid immunity in India. A scientifically developed blend of nutrients, including Wellmune 2, prebiotics, and other necessary vitamins and minerals, fortifies the immunity-supporting gummies.
In August 2023, Gadot Biochemical Industries, a mineral supplier, overcame many significant industrial obstacles to adding magnesium to gummies.

Get Strategic Guidance from Our Analyst Contact us on: +1-347-918-3531

Gummy Market Outlook by Category

By Product: