With consumers' growing interest and investment in preventative health and wellness methods, the multivitamin supplements market has experienced significant growth, particularly that of multivitamin gummies.
New research from FMI has highlighted that the multivitamin gummies market is expected to reach a value of US$4,317 million by 2024, poised to grow at a CAGR of 5.4 percent, to reach an anticipated value of US$ 7326 million by 2034.
The appeal of multivitamin gummies is underscored by its convenience as an alternative to traditional tablet formats. Natural multivitamin gummies are specifically popular with consumers who are becoming more conscious and knowledgeable about the ingredients in their products, opting for recognisable and clearly stated.
Chewable multivitamin gummies, initially developed and utilised to make it easier to appeal to children, have gained traction with older generations due to their pleasant taste and more attractive and enjoyable edibility.
This led to the establishment of multivitamin gummies for adults as an appealing solution for various medications, extending beyond supplements of the FMCG industry to pharmaceuticals as well.
Consumers' positive associations with multivitamins and the convenience they present in fulfilling nutritional needs in a single product are the key reasons behind the market's growth.
Dietitian and nutritionist recommendations and endorsements are key features that help brands stand out on the shelf, with these endorsements helping garner more trust in consumers in the product's effectiveness.
Brands marketing multivitamin gummies as a fun and nutritious addition to lifestyle are essential to create consumer engagement. They will be the point of difference between which health-based multivitamin gummies appeal to consumers.
However, the more enjoyable experience associated with multivitamins is a double-edged sword, as excessive intake by consumers could pose challenges and limit market expansion, particularly when balancing sugar or sweetener contents of gummies that are used to make the supplements more flavourful for consumers. Addressing these challenges will be essential for the market to avoid becoming branded as the exact opposite of its intentions: unhealthy.
Catering to consumers with varying diets and lifestyles will also be a challenge brands and manufacturers must overcome to maintain a competitive market edge.
The United States is expected to have its multivitamin gummies market grow at a 7.8 percent CAGR, driven by ongoing innovation in multivitamin formulations. Germany focused on product diversification, is anticipated to experience a 6.7 percent CAGR, while the United Kingdom will likely see a 9.2 percent CAGR, driven by ethical sourcing and premium ingredients.
