Report : Asia Pacific Gummy Supplements Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Digestive Health, Immune Health, Brain Health, Skin Health, Multivitamins, Single Vitamins, and Others), End User (Adults and Kids), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 8.4% CAGR, the Asia Pacific gummy supplements market is speculated to be worth US$ 4,201.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific gummy supplements market was valued at US$ 2,647.93 million in 2021 and is expected to reach US$ 4,827.64 million by 2028, registering an annual growth rate of 9.0% from 2021 to 2028.
Rising popularity of plant-based supplementsand continuous growth in new product developments are the major factors responsible for growth of gummy supplements market in Asia Pacific region. Veganism as a lifestyle is growing worldwide in terms of visibility and popularity, especially in Australia. The growth has been evident in the rise in the meat alternatives market and growth in the vegan products market. In countries, such as India, where vegetarianism is a prominent and significant percentage of the population who consume plant-based diets.
Gummy supplements are generally made from gelatin. Gelatin is a protein obtained by boiling bones, ligaments, tendons, and/or skin with water. It is usually sourced from pigs or cows. Additionally, the raw material for gelatin is sourced from waste products in the food processing industry. There are general concerns regarding the safety of gelatin as it is derived from animal sources. The vegan and vegetarian population have reservations about consuming gummy supplements made from gelatin. As the vegan lifestyle is becoming more and more popular, the demand for plant-based supplements is also growing. Therefore, the demand for plant-based gummy supplements is increasing, providing lucrative opportunities in the market for product differentiation.
On the contrary, various side effects associated with over consumption hurdles the growth of Asia Pacific gummy supplements market.
Based on type, the Asia Pacific gummy supplements market is segmented into digestive health, immune health, brain health, skin health, multivitamins, single vitamin, and others. The others segent held 37.8% market share in 2021, amassing US$ 1,001.83 million. It is projected to garner US$ 1,820.90 million by 2028 to expand at 8.9% CAGR during 2021–2028.
Based on end user, the Asia Pacific gummy supplements market is bifurcated into adults and kids. Adults segment held 72.4% market share in 2021. It accrued US$ 1,917.05 million in 2021 and is estimated to generate US$ 3,551.30 million by 2028 to grow at a CAGR of 9.2% over the forecast period.
Based on distribution channels, the Asia Pacific gummy supplements market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. With 76.3% share of the domain, the specialty stores segment dominated the market in 2021. It accrued US$ 2,021.63 million in 2021 and is estimated to generate US$ 3,597.24 million by 2028 to grow at a CAGR of 8.6% over the forecast period.
Our regional analysis states that China captured 33.2% market share in 2021. It was assessed at US$ 879.49 million in 2021 and is likely to hit US$ 1,518.96 million by 2028, exhibiting a CAGR of 8.1% during the forecast period.
Key players dominating the Asia Pacific gummy supplements market are Bayer AG; Church & Dwight, Inc.; Herbaland Naturals Inc.; Jarrow Formula, Inc.; Nature's Bounty; Nature’s Way Products LLC; and The Clorox Company among others.
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