Report : Europe 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 Europe 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 Europe gummy supplements market was valued at US$ 2,381.91 million in 2021 and is expected to reach US$ 4,201.89 million by 2028, registering an annual growth rate of 8.4% from 2021 to 2028. Rising consumer preference for preventive health and increasing popularity of supplements in gummy form among adults is the major factor responsible for growth of gummy supplements market in Europe region.
In recent years, health and fitness has picked up pace as a trend due to the rising prevalence of various diseases, such as cancer and cardiovascular disorders, and several medical conditions, including diabetes, high blood pressure, obesity, and high cholesterol. People have become more aware and concerned about their health and physique over the last few years, which has led to the increasing popularity of dietary supplements worldwide. Millions of people of various age groups, backgrounds, and geographies are embracing fitness worldwide to better their physical health and overall well-being, boosting the demand for dietary supplements substantially.
The increasing instances of chronic health-related issues are resulting in an increased emphasis on preventive measures to avoid the occurrence of diseases. Apart from exercising, maintaining a stress-free lifestyle, eating a healthy diet, and intake of supplements are also increasing to fortify immunity and avert any health-related issues. Therefore, dietary supplements in the form of gummies are gaining prominence as they are easier to consume than other forms, such as powder and pills. Moreover, the outbreak of the COVID-19 pandemic has led to an increased focus on preventive health care. As various governments promoted immunity-boosting and preventive measures to protect against the SARS-CoV-2 virus, a high number of people started consuming supplements to boost immunity. This shows that the pandemic fueled the demand for dietary supplements, including gummy supplements, aiding the market.
On the contrary, various side effects associated with over consumption hurdles the growth of Europe gummy supplements market.
Based on type, the Europe gummy supplements market is segmented into digestive health, immune health, brain health, skin health, multivitamins, single vitamin, and others. The others segent held 41.6% market share in 2021, amassing US$ 990.42 million. It is projected to garner US$ 1,735.30 million by 2028 to expand at 8.3% CAGR during 2021–2028.
Based on end user, the Europe gummy supplements market is bifurcated into adults and kids. Adults segment held 75.4% market share in 2021. It accrued US$ 1,797.02 million in 2021 and is estimated to generate US$ 3,213.73 million by 2028 to grow at a CAGR of 8.7% over the forecast period.
Based on distribution channels, the Europe gummy supplements market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. With 64.5% share of the domain, the specialty stores segment dominated the market in 2021. It accrued US$ 1,528.03 million in 2021 and is estimated to generate US$ 2,605.22 million by 2028 to grow at a CAGR of 7.9% over the forecast period.
Our regional analysis states that the Rest of Europe captured 36.4% market share in 2021. It was assessed at US$ 866.23 million in 2021 and is likely to hit US$ 1,439.71 million by 2028, exhibiting a CAGR of 7.5% during the forecast period.
Key players dominating the Europe gummy supplements market are Bayer AG; Church & Dwight, Inc.; Herbaland Naturals Inc.; Jarrow Formula, Inc.; Life Science Nutritionals; Nature’s Way Products LLC; and The Clorox Company among others.
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