Gummy Vitamin Sales Rising in Asia as Focus on Preventing Micro-nutrient Deficiency Increases: Study
The gummy vitamin market in Asia Pacific excluding Japan is expected to grow between 2021 and 2031. Soaring demand for multivitamins and probiotics will foster opportunities for sales of gummy vitamins in China.
Consumer preference for multivitamins and probiotics gummy vitamins across South Korea and China will aid the market growth. Steered by lucrative prospects, some of the leading manufacturing companies are setting up new plants in Asia to expand their global presence.
For instance, Olly Public Benefit Corporation have launched its gummy vitamin supplements in Singapore and other Asian countries.
Globally, the gummy vitamin sales are set to rise at over 5% CAGR during the forecast period. A sizeable percentage of this demand is likely to be met by China and South Korea, as demand for gummy vitamin surges with the increasing dependency on vitamin fortified food products.
“Rising prevalence of micronutrient deficiency among children has resulted in higher sales of gummy vitamins. Thanks to the increasing penetration of e-commerce platforms, manufacturers of gummy vitamins are finding lucrative opportunities for sales in Asian countries,” says a lead analyst at Fact.MR.
China: The Fastest Growing Gummy Vitamins Market in Asia
According to Fact.MR’s analysis, China will be the fastest growing market for gummy vitamins in Asia. Factors such as rising prevalence of vitamin A deficiency among younger children have bolstered the demand of gummy vitamins in China.
According to the National Institute of Health, around 24.29% of children under the age of 12 across China are diagnosed with vitamin A deficiency. As a result, parents are including gummy vitamins with the normal diet.
With the rising demand, manufacturers are producing gummy vitamins in unique shapes and flavors to entice children. Also, parents are becoming more conscious while choosing the gummy vitamin supplements. Therefore, companies are increasing their production of organic and gluten free gummy vitamins.
For instance, Nature’s Truth, a leading player, in 2021, expanded its product line with vitamin C gummies and elderberry gummies that are gluten-free as well as made from organic compounds.
Emergence of Online Platforms Providing Lucrative Opportunities across China
East & South Asia regions are expected to record higher growth, especially China, due to the emergence of e-commerce platforms and untapped potential in the country. Key players are expanding their global reach through online retailers.
Some of the leading economies in East Asia have a dense population. As a result, there has been a noticeable surge in the rate of lifestyle diseases, especially among pediatric & geriatric population. This, in turn, has increased the consumption of gummy vitamins within the country.
Consumers in the region demand more information on the product package and seek for organic & trust-worthy products. Hence, manufacturers are using graphics and online platforms to promote their products with innovative packaging.
Adoption of unique techniques in packaging & logos such as non-GMO verified, organic and eco-friendly packaging are some of the strategies incorporated by manufactures to woo consumers.
Fact.MR study has profiled leading players in the gummy vitamins market include:
· Bayer AG
· Church & Dwight Co. Inc.
· The Honest Company Inc.
· Pfizer Inc.
· Pharmavite LLC
· Life Science Nutritionals
· Bettera Brands LLC
· The Clorox Company
· Zanon Vitamec Inc.
· Herbaland Naturals Inc.
· Smarty Pants Inc.
· The Nature’s Bounty Co.
· Boscogen Inc.
Key Questions Answered by the Report
· What is the Asia gummy vitamins market size?
· How will demand for gummy vitamins grow in China, Japan, and South Korea?
· Who are the leading gummy vitamins manufactures and what is their strategy?
· Which countries in Asia Pacific are prime for investment in gummy vitamins market?
· What is the Covid-19 impact on global gummy vitamins market?
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