GUMMY SUPPLEMENTS MARKET ANALYSIS

Consumers today have multiple options to choose from when it comes to supplementing their nutritional needs. Products such as pills, capsules, powders, and liquids allow consumers to target specific nutritional deficiencies and health conditions. These established delivery formats are perceived by many consumers to be more effective than gummy supplements. Moreover, supplements in pill or capsule form allow for more precise dosing, especially for ingredients that need to be taken at specific amounts to achieve the desired results. Gummy supplements have larger size and are often designed to be chewable and tasty, which may limit manufacturers in standardizing the dosage amounts of various active ingredients.  The versatility of alternative products is also compelling consumers. Supplements in powder form for instance, can be easily mixed with water or other beverages. This makes powder supplements very convenient to consume while on-the-go. Liquid supplement drops or tinctures are similarly portable and easy to use. Some liquid supplements even claim to have better absorption in the body compared to other formats. As consumers are more health and wellness-focused, they are also interested in options that can fit seamlessly into their daily routine and active lifestyles. This practicality factor where alternative supplement types are concerned, is diminishing the popularity of gummy supplements in certain consumer segments. Younger consumers especially who are very health-conscious, are gravitating towards formats like nutritional shakes and on-the-go drink mixes for their daily wellness needs.

Opportunities: Focus on plant-based/vegan supplements

With rising health concerns and awareness about sustainability, more consumers are shifting towards a vegan lifestyle. According to data from Global Data's 2020 Vegan Consumer Survey, nearly a quarter of global consumers try to avoid animal products where possible. Plant-based and vegan gummy supplements can capitalize on this growing consumer trend. These products are appealing to vegans as well as health-conscious flexitarians who want to reduce their environmental impact. Gummies are also a fun and enjoyable format that can help increase compliance for supplement intake among children and health-discerning millennials. The future outlook for vegan and plant-based food products is very promising. Various studies show the segment is growing much faster than conventional food markets. For instance, according to the Good Food Institute's 2020 U.S. Plant-Based Market Overview, retail sales of plant-based foods grew over 27% in 2020, more than six times the growth rate of the total U.S. retail food sales. Their research finds plant-based products are entering the mainstream through increasing availability in conventional grocery stores and foodservice outlets.