Global Gummy Market - 2023-2030

Market Overview

The Global Gummy Market reached US$ 19.2 billion in 2022 and is expected to reach US$ 40.5 billion by 2030 and is expected to grow with a CAGR of 9.8% during the forecast period 2023-2030. Rising Demand for Functional Gummies, the gummy market is witnessing a surge in demand for functional gummies infused with vitamins, minerals, and other health-enhancing ingredients, as consumers seek convenient and enjoyable ways to support their overall well-being.

The gummy market is experiencing robust growth, driven by factors such as increasing consumer demand for indulgent and convenient snacks. Gummies, known for their enjoyable texture and wide range of flavors, appeal to consumers of all ages. With continuous innovation in flavors, ingredients, and packaging, the gummy market is poised for further expansion and holds significant potential for both established brands and emerging players.

The driver of health-conscious snacking habits is propelling the gummy market, as consumers increasingly seek out indulgent treats that offer nutritional benefits. Gummy manufacturers are responding to this trend by introducing healthier formulations, such as low-sugar, organic, and fortified options, to meet the demands of health-conscious consumers.

Market Dynamics

Health and Wellness Drive Demand for Nutrient-Enriched Gummies

The gummy market trend is driven by the growing focus on health and wellness among consumers. With a strong emphasis on personal well-being, individuals are seeking gummies that offer both convenience and nutritional benefits. Gummies formulated with vitamins, minerals, and herbal extracts cater to this trend, providing a convenient way to supplement one's diet. The market is witnessing the use of gelling agents like gelatin and pectin to ensure the desired texture and structure of the gummies.

Additionally, the inclusion of natural flavoring agents and coloring agents derived from fruits and vegetables aligns with the clean label movement, appealing to health-conscious consumers who prefer natural and wholesome products. The demand for gummies with health-enhancing properties continues to drive the growth of the market.

Gummy Market Surges Ahead with Innovative and Customized Offerings

Product innovation and customization are driving the gummy market as manufacturers strive to meet evolving consumer preferences. Gummies offer a versatile platform for experimentation with flavors, textures, and shapes. Companies are leveraging gelling agents like gelatin and pectin to create a wide variety of gummy products, including unique flavor combinations, novelty shapes, and personalized formulations.

The use of coloring agents allows for attractive and visually appealing gummies. Texture modifiers ensure the desired chewiness or softness, enhancing the overall eating experience. With continuous product innovation and customization, gummy manufacturers are capturing consumer attention and driving market growth.

Limited Availability of Specialized Gummy and Ingredients Hampers Confectionery Sector

A restraint in the gummy market is the presence of intense competition and market saturation. The popularity of gummies has led to the entry of numerous players, resulting in a crowded and highly competitive landscape. Established brands, as well as new entrants, are vying for market share, leading to price wars and aggressive marketing strategies. Moreover, the market is saturated with a wide range of gummy products, including various flavors, shapes, and formulations.

This saturation makes it challenging for brands to differentiate themselves and capture consumer attention. With limited opportunities for product differentiation, manufacturers face the restraint of developing unique value propositions to stand out in a competitive market. Effective branding, innovation, and strategic partnerships become crucial for sustained growth and market success.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global gummy market has been segmented by source, flavor, distribution channel, and region.

Plant-Based Gummies Surge in Popularity, Captivating Consumers and Reshaping the Gummy Market Landscape

As the gummy market evolves, plant-based gummies have emerged as a significant and fast-growing segment. With increasing consumer awareness about vegan and vegetarian lifestyles, the demand for plant-based alternatives has skyrocketed. Plant-based gummies, crafted using ingredients like pectin, agar, or starch, offer a delightful chewiness and a diverse range of flavors.

This segment has gained considerable traction, capturing a substantial market share of approximately 30%. As more consumers prioritize ethical and sustainable choices, the popularity of plant-based gummies continues to soar, presenting lucrative opportunities for manufacturers and brands to tap into this growing market.

Geographical Analysis

Asia Pacific Emerges as a Growing Force in the Gummy Market

By region, the global gummy market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and Africa.

The Asia Pacific gummy market showcases a thriving industry encompassing a wide range of products, including gummy candy, gummy vitamins, and gummy supplements. With a substantial gummy market size, the region offers immense growth opportunities for manufacturers and distributors. Gummy candy holds a significant market share in the region, appealing to consumers of all ages with its enticing flavors and enjoyable chewiness.

Moreover, the rising interest in health and wellness has fueled the demand for gummy vitamins and supplements, contributing to their growing market share. As the Asia Pacific gummy market continues to expand, companies are focusing on product innovation, strategic partnerships, and effective marketing strategies to capitalize on the region's potential and strengthen their gummy market share.

Competitive Landscape

The major global players in the market include: The Kraft Heinz Company, Mars, Incorporated, Haribo GmbH & Co. KG, Nestle S.A., Ferrara Candy Company, Perfetti Van Melle, Albanese Confectionery Group, Inc., Black Forest GmbH, Jelly Belly Candy Company, and Hershey Company.

Why Purchase the Report?

• To visualize the global gummy market segmentation based on source, flavor, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of gummy market-level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global gummy market report would provide approximately 61 tables, 62 figures, and 190 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies