Nutraceutical gum gross sales are growing, particularly as customers concentrate on wholesome dwelling | FMI
Nutraceutical gum sales will grow exponentially in the coming years as consumers continue to focus increasingly on health and wellness. According to a study by Future Market Insights (FMI), the nutraceutical gum market will reach a valuation of $ 24.54 billion in 2021.
Sales are expected to skyrocket as the demand for nutritional supplements continues to increase to address the lack of nutrients in the normal diet. The increase in the labor force and its rising incomes have become one of the main drivers of the market.
Gums are likely to dominate the dietary supplement landscape in the years to come. As the focus on health and wellness grows in response to increasingly hectic lifestyles, consumers tend to rethink their dietary choices.
According to the report, in terms of nutritional class, the demand for gums high in vitamins and minerals is expected to be higher. It is expected to be the leading segment based on nutritional class, accounting for nearly 43.8% of market sales in 2021.
While developed countries should be at the forefront of this trend, emerging markets will soon catch up. In addition to lifestyle changes, higher purchasing power will make consumers in emerging markets more willing to spend on dietary supplements.
Key Findings from the Nutraceutical Gummies Market Study
- The nutraceutical gums market is expected to grow by an impressive 15% CAGR between 2021 and 2031
- The expansion of the dietary supplement sector will boost sales in the US, which is expected to account for over 87% of the North American market in 2021
- Backed by government initiatives promoting healthy lifestyles, the UK market will see a little under 15% year-over-year growth in 2021
- Consumers in Germany and France are taking a preventive stance knowing the importance of maintaining a strong immune system. This will create opportunities for nutraceutical gums to be sold
- The focus on healthy living will drive growth in Japan and South Korea. As the e-commerce sector thrives due to the seclusion of home amid a pandemic, sales will rise in both countries
“Market participants are likely to focus on product launches to attract discerning consumers to their brand. Various combinations of flavors, shapes and colors of nutraceutical gums are expected to enter the market, which will attract consumers, ”said a senior analyst at FMI
Inclusion of organic ingredients
Consumers’ interest in improving their health through their diet has grown steadily in recent years. This has led to the development of several completely new products in the food and beverage industry, such as sugar-free, organic and calorie-free variants.
The main focus of a healthy diet is on reducing chemical additives in food and beverage products, which has led the dietary supplement manufacturers to redirect their conventional dietary supplement production to organic and natural dietary supplement production using organically certified grains.
Innovation has become a cornerstone of the growth strategies of companies operating in the nutritional supplement market. Manufacturers are likely to focus on innovations in taste, size, and packaging to make their presence felt in the highly competitive nutraceutical gum market.
Some of the leading companies selling nutraceutical gums are Bayer AG, Zarbee’s, Inc., Sanofi SA, Nature’s Bounty Co., Otsuka Holdings Co., Ltd., SmartyPants Vitamins, Church & Dwight Co. Inc., Olly Public Benefit Corporation , Life Science Nutritionals, The Honest Company, Inc., Pfizer, Nature’s Way, and others.