Future Market Insights (FMI) pegs citrus gummies market to grow 5.9% CAGR in terms of volume, with revenues set to surpass 341Mn by 2027. The report attributes the growth of the market to a cohort of factors, notably a spike in immunity-boosting supplements in the COVID-era.
Owing to its strong nutritional profile, citrus gummies have emerged as an ideal option for consumers seeking healthy and tasty nutraceutical supplements.
According to the study, the sweet taste and availability of different flavors of citrus flavors give it an edge over conventional nutritional pills. Likewise, health benefits of citrus gummies such as immunity enhancement, improvement of bone health, and an overall reduction of nutritional deficiency will continue to drive demand.
However, the report opines that the COVID-19 pandemic will exhibit a dual impact on the sales of citrus gummies, creating fluctuations in the growth trajectory. While the need for nutritional supplements is expected to rise, issues on the supply side are likely to hinder the growth during the pandemic.
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Key Takeaways
Conventional citrus gummies will account for more than 3/5th of market value. Bottle & jars will remain the most popular packaging type due to their safety and reusability. Europe will remain the largest market for citrus gummies globally North America and APEJ will cumulatively account for over half of the global value, backed by a high population base that’s at risk of autoimmune diseases.
COVID-19 Impact
The outbreak of COVID-19 has pushed the food and beverage industry into uncertainty and the citrus gummies market is no different. However, high demand for healthy food products, including nutritional supplements such as citrus gummies is likely to bolster the market during the pandemic.
Contrarily, issues on the production side such as shut down of manufacturing facilities, shortage of workforce, and disruption of distribution networks are hindering smooth operations, creating a downfall in the production volume.
Who is Winning?
Citrus gummies market players are focusing on expanding the production of organic products to leverage the growing demand for products produced using non-GMO methods.
Manufacturers are also focusing on high-quality packaging to attract consumers. Similarly, acquisitions and new product developments will continue to shape the competitive landscape of the market. On these lines,
In March 2020, American manufacturers Olly Public Benefit Corporation launched its citrus gummy supplements in Singapore after acquiring Unilever Ltd. the previous year.
FMI’s report includes profiles of some of the most prominent names in the market including Pfizer Inc., Bayer AG, The Honest Company, Inc., Pharmavite LLC, Olly Public Benefit Corporation, Nutranext LLC, Hero Nutritionals LLC, Herbaland Naturals Inc., and Zanon Vitamec, among others.
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Key Segments
Nature:
- Organic
- Conventional
Customer Orientation:
- Children
- Adult
Packaging
- Bottles & Jars
- Stand-Up Pouches
- Others
Sales Channel
- Direct Sales
- Modern Trade
- Convenience Stores
- Departmental Store
- Specialty Store
- Drug Store/Pharmacies
- Online Retailers
- Other Sales Channels
Region:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific except Japan (APEJ)
- Middle East and Africa
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Key Questions Answered in the Report
What is the citrus gummies market size?
The global citrus gummies market is expected to reach a valuation of US$ 341 Mn by 2027.
Which is the largest market for citrus gummies?
Europe is expected to maintain hegemony over the regional landscape through the course of the forecast period
Who are the citrus gummies manufacturers?
Key players operating in the market include Pfizer Inc., Bayer AG, The Honest Company, Inc., Pharmavite LLC, Olly Public Benefit Corporation, Nutranext LLC, Hero Nutritionals LLC, Herbaland Naturals Inc., and Zanon Vitamec among others.
Which is the preferred sales channel for citrus gummies?
The modern trade segment is expected to channel the majority of revenue to the citrus gummies market through the forecast period.
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