The gummy supplements market in South & Central America is expected to grow from US$ 682.57 million in 2021 to US$ 1,175.54 million by 2028. It is estimated to grow at a CAGR of 8.1% from 2021 to 2028.
Social media is creating a huge impact across the world. It is surfaced as a major factor behind the growth of the gummy supplements market in South & Central America. Social media plays a significant role in fitness motivation and influencing self-improvement. For instance, social media platforms, such as Instagram, Twitter, and Pinterest, boosted the popularity of the health & fitness industry, with many celebrities and influencers introducing users to new fitness regimes and dietary supplements, highlighting the benefits they offer to their physical and mental health. This, in turn, is aiding the demand for gummy supplements. Over the past few years, the number of social media players has increased dramatically, owing to the rising penetration of the internet and smartphones. People are heavily influenced by social media influencers and celebrities and try to follow them. Brands benefit from the growing influence of social media and celebrities on people.
Since the gummy supplement is a novel format, it is becoming increasingly popular among millennials and gen Z. The surge in demand from newer generations is also expected to drive the demand for gummy supplements over the coming years.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South & Central America gummy supplements market at a good CAGR during the forecast period.
South & Central America Gummy Supplements Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Gummy Supplements Market Segmentation
The South & Central America gummy supplements market is analyzed on the basis of type, end user, distribution channel, and country. Based on type, the market is segmented into digestive health, immune health, brain health, skin health, multivitamins, single vitamin, and others. The others segment held the largest market share in 2020. Based on end user, the market is bifurcated into adults and kids. The adults segment held the largest market share in 2020. Based on distribution channels, the market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest market share in 2020.
Based on country, the South & Central America gummy supplements market is segmented into Brazil, Argentina, and the Rest of South & Central America.
Bayer AG; Church & Dwight, Inc.; Herbaland Naturals Inc.; Jarrow Formula, Inc.; Nature’s Way Products LLC; and The Clorox Company are the leading companies in the gummy supplements market in this region.