Vitamin B12 Gummy Market Research Report 2021-2031
The Vitamin B12 Gummy Market is expected to register a CAGR of 6.0% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by end user (kids and adults). The report further presents analysis based on distribution channel (supermarkets and hypermarkets, specialty stores, online retail, others). The global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Vitamin B12 Gummy Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Vitamin B12 Gummy Market Segmentation
End User- Kids
- Adults
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
Strategic Insights
Vitamin B12 Gummy Market Growth Drivers- Convenience and Appeal of Vitamin B12 Gummies Drive Market Growth: Healthiness and wellness oriented products are being made more convenient which is also a key factor for vitamin B12 gummy market. Many consumers (especially adults who have ‘pill fatigue’) prefer gummies over tablets thus resulting in sale increases for these products as they are seen as a fun and easy way of fulfilling nutritional requirements.
- Increased Vitamin B12 Deficiency Awareness Among Vegetarians, Vegans, and the Elderly Boosts Gummy Sales: This is especially so among vegetarians, vegans and the elderly who are all aware of the deficiency of these vitamins especially B12 and this increases the consumption of vitamin b12 gummies. With diet dependent individuals trying to add major nutrients into their regrets, gummy vitamins which are commonly accepted as tasty and easy to chew come in handy.
- Flavors and Formulation Innovations Expand the Popularity of Vitamin B12 Gummies: More consumers are turning to gummy vitamins because of the increase in flavor and formulation differences within the gummy vitamin market. Companies are coming up with vitamin B12 gummies where natural tastes are added making these vitamins delicious and hence increasing the scope of the market.
- Growing Demand for Vitamin B12 Gummies Among Plant-Based Diet Followers: With more people switching to a plant-based diet, the need for vitamin B12 gummies is increasing. These gummies act as an effective addition to the diet for those who find it difficult to get adequate B12 solely from plant sources thus filling in the nutritional deficiencies and therefore enhancing the health of this population group.
- New Complex Formulations Drive Innovation in the Vitamin B12 Gummy Market: Vitamin B12 gummy market is changing rapidly with new brands coming into the market offering even more complex formulations that combine different vitamins, minerals, and even food additives. This enables the consumers who want more than just a plain B12 gummies, instead makes the gummie a health protective supplement in one gummie.
- Targeted Marketing to Seniors and Athletes Fuels Vitamin B12 Gummy Market Growth: Marketers are focusing their resources towards specific groups of consumers like old people and sports people. Age-related vitamin B12 benefits of energy and healthy cognitive function tend to attract the consumers in this group, as a result of which the gummy vitamins market continues to expand.
- Vitamin B12 Gummies Target Athletes and Seniors to Boost Energy and Cognitive Function: Vitamin B12 gummy brands have many opportunities to target certain segments in this case. This includes athletes and the elderly. While advocating on the benefits of B12 to boost energy and cognitive function, such companies can appeal to these markets increasing the appeal of the product and thus sales.
- Unique and Seasonal Flavors Offer Opportunities for Innovation in the Vitamin B12 Gummy Market: The need for flavors that are unique and attractive presents a window for brands to come up with different vitamin B12 gummy forms. This could be done by adding more creative or seasonal flavors for instance, to draw in consumers who are interested in the fun side of taking supplements and thus grow the market as well as retain competition.
- Medical Endorsements and Preventive Health Focus Enhance Credibility of Vitamin B12 Gummies: Vitamin B12 gummies come with enhanced credibility that can be associated with their promotion by medical practitioners, nutritionists, or dieticians. While these foods encourage B12 use emphasizes the need for B12 supplementation, other brands are stepping up to rainy day there campaign towards preventive health based on nutrition.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Vitamin B12 Gummy Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Vitamin B12 Gummy Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Vitamin B12 Gummy Market is estimated to witness a CAGR of 6.0% from 2023 to 2031
The rising demand for convenient supplements and rising awareness of nutritional deficiencies driving the vitamin B12 gummy market growth.
The rising consumers’ inclination towards natural and organic products and enhanced product formulation is likely to remain the key trends in the market.
Lifeable, Rise-N-Shine LLC., Emerald Nutraceutical, Church & Dwight Co., Inc., Pharmavite LLC., AdvaCare Pharma, Nature's Bounty, Nestle SA are among the leading players operating in the vitamin B12 gummy market.
Based on geography, North America held the largest share of the vitamin B12 gummy market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Vitamin B12 Gummy - By Type
1.3.2 Vitamin B12 Gummy - By End Users
1.3.3 Vitamin B12 Gummy - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VITAMIN B12 GUMMY LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. VITAMIN B12 GUMMY - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. VITAMIN B12 GUMMY - GLOBAL MARKET ANALYSIS
6.1. VITAMIN B12 GUMMY - GLOBAL MARKET OVERVIEW
6.2. VITAMIN B12 GUMMY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VITAMIN B12 GUMMY - REVENUE AND FORECASTS TO 2028 – TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CHERRY
7.3.1. Overview
7.3.2. Cherry Market Forecast and Analysis
7.4. STRAWBERRY
7.4.1. Overview
7.4.2. Strawberry Market Forecast and Analysis
7.5. RASPBERRY
7.5.1. Overview
7.5.2. Raspberry Market Forecast and Analysis
7.6. LEMON
7.6.1. Overview
7.6.2. Lemon Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. VITAMIN B12 GUMMY - REVENUE AND FORECASTS TO 2028 – END USERS
8.1. OVERVIEW
8.2. END USERS MARKET FORECASTS AND ANALYSIS
8.3. KIDS
8.3.1. Overview
8.3.2. Kids Market Forecast and Analysis
8.4. ADULTS
8.4.1. Overview
8.4.2. Adults Market Forecast and Analysis
9. VITAMIN B12 GUMMY REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Vitamin B12 Gummy Overview
9.1.2 North America Vitamin B12 Gummy Forecasts and Analysis
9.1.3 North America Vitamin B12 Gummy Forecasts and Analysis - By Type
9.1.4 North America Vitamin B12 Gummy Forecasts and Analysis - By End Users
9.1.5 North America Vitamin B12 Gummy Forecasts and Analysis - By Countries
9.1.5.1 United States Vitamin B12 Gummy
9.1.5.1.1 United States Vitamin B12 Gummy by Type
9.1.5.1.2 United States Vitamin B12 Gummy by End Users
9.1.5.2 Canada Vitamin B12 Gummy
9.1.5.2.1 Canada Vitamin B12 Gummy by Type
9.1.5.2.2 Canada Vitamin B12 Gummy by End Users
9.1.5.3 Mexico Vitamin B12 Gummy
9.1.5.3.1 Mexico Vitamin B12 Gummy by Type
9.1.5.3.2 Mexico Vitamin B12 Gummy by End Users
9.2. EUROPE
9.2.1 Europe Vitamin B12 Gummy Overview
9.2.2 Europe Vitamin B12 Gummy Forecasts and Analysis
9.2.3 Europe Vitamin B12 Gummy Forecasts and Analysis - By Type
9.2.4 Europe Vitamin B12 Gummy Forecasts and Analysis - By End Users
9.2.5 Europe Vitamin B12 Gummy Forecasts and Analysis - By Countries
9.2.5.1 Germany Vitamin B12 Gummy
9.2.5.1.1 Germany Vitamin B12 Gummy by Type
9.2.5.1.2 Germany Vitamin B12 Gummy by End Users
9.2.5.2 France Vitamin B12 Gummy
9.2.5.2.1 France Vitamin B12 Gummy by Type
9.2.5.2.2 France Vitamin B12 Gummy by End Users
9.2.5.3 Italy Vitamin B12 Gummy
9.2.5.3.1 Italy Vitamin B12 Gummy by Type
9.2.5.3.2 Italy Vitamin B12 Gummy by End Users
9.2.5.4 United Kingdom Vitamin B12 Gummy
9.2.5.4.1 United Kingdom Vitamin B12 Gummy by Type
9.2.5.4.2 United Kingdom Vitamin B12 Gummy by End Users
9.2.5.5 Russia Vitamin B12 Gummy
9.2.5.5.1 Russia Vitamin B12 Gummy by Type
9.2.5.5.2 Russia Vitamin B12 Gummy by End Users
9.2.5.6 Rest of Europe Vitamin B12 Gummy
9.2.5.6.1 Rest of Europe Vitamin B12 Gummy by Type
9.2.5.6.2 Rest of Europe Vitamin B12 Gummy by End Users
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Vitamin B12 Gummy Overview
9.3.2 Asia-Pacific Vitamin B12 Gummy Forecasts and Analysis
9.3.3 Asia-Pacific Vitamin B12 Gummy Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Vitamin B12 Gummy Forecasts and Analysis - By End Users
9.3.5 Asia-Pacific Vitamin B12 Gummy Forecasts and Analysis - By Countries
9.3.5.1 Australia Vitamin B12 Gummy
9.3.5.1.1 Australia Vitamin B12 Gummy by Type
9.3.5.1.2 Australia Vitamin B12 Gummy by End Users
9.3.5.2 China Vitamin B12 Gummy
9.3.5.2.1 China Vitamin B12 Gummy by Type
9.3.5.2.2 China Vitamin B12 Gummy by End Users
9.3.5.3 India Vitamin B12 Gummy
9.3.5.3.1 India Vitamin B12 Gummy by Type
9.3.5.3.2 India Vitamin B12 Gummy by End Users
9.3.5.4 Japan Vitamin B12 Gummy
9.3.5.4.1 Japan Vitamin B12 Gummy by Type
9.3.5.4.2 Japan Vitamin B12 Gummy by End Users
9.3.5.5 South Korea Vitamin B12 Gummy
9.3.5.5.1 South Korea Vitamin B12 Gummy by Type
9.3.5.5.2 South Korea Vitamin B12 Gummy by End Users
9.3.5.6 Rest of Asia-Pacific Vitamin B12 Gummy
9.3.5.6.1 Rest of Asia-Pacific Vitamin B12 Gummy by Type
9.3.5.6.2 Rest of Asia-Pacific Vitamin B12 Gummy by End Users
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Vitamin B12 Gummy Overview
9.4.2 Middle East and Africa Vitamin B12 Gummy Forecasts and Analysis
9.4.3 Middle East and Africa Vitamin B12 Gummy Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Vitamin B12 Gummy Forecasts and Analysis - By End Users
9.4.5 Middle East and Africa Vitamin B12 Gummy Forecasts and Analysis - By Countries
9.4.5.1 South Africa Vitamin B12 Gummy
9.4.5.1.1 South Africa Vitamin B12 Gummy by Type
9.4.5.1.2 South Africa Vitamin B12 Gummy by End Users
9.4.5.2 Saudi Arabia Vitamin B12 Gummy
9.4.5.2.1 Saudi Arabia Vitamin B12 Gummy by Type
9.4.5.2.2 Saudi Arabia Vitamin B12 Gummy by End Users
9.4.5.3 U.A.E Vitamin B12 Gummy
9.4.5.3.1 U.A.E Vitamin B12 Gummy by Type
9.4.5.3.2 U.A.E Vitamin B12 Gummy by End Users
9.4.5.4 Rest of Middle East and Africa Vitamin B12 Gummy
9.4.5.4.1 Rest of Middle East and Africa Vitamin B12 Gummy by Type
9.4.5.4.2 Rest of Middle East and Africa Vitamin B12 Gummy by End Users
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Vitamin B12 Gummy Overview
9.5.2 South and Central America Vitamin B12 Gummy Forecasts and Analysis
9.5.3 South and Central America Vitamin B12 Gummy Forecasts and Analysis - By Type
9.5.4 South and Central America Vitamin B12 Gummy Forecasts and Analysis - By End Users
9.5.5 South and Central America Vitamin B12 Gummy Forecasts and Analysis - By Countries
9.5.5.1 Brazil Vitamin B12 Gummy
9.5.5.1.1 Brazil Vitamin B12 Gummy by Type
9.5.5.1.2 Brazil Vitamin B12 Gummy by End Users
9.5.5.2 Argentina Vitamin B12 Gummy
9.5.5.2.1 Argentina Vitamin B12 Gummy by Type
9.5.5.2.2 Argentina Vitamin B12 Gummy by End Users
9.5.5.3 Rest of South and Central America Vitamin B12 Gummy
9.5.5.3.1 Rest of South and Central America Vitamin B12 Gummy by Type
9.5.5.3.2 Rest of South and Central America Vitamin B12 Gummy by End Users
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. VITAMIN B12 GUMMY, KEY COMPANY PROFILES
11.1. DRFORMULAS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. HERO NUTRITIONALS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. NATURE MADE
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. NORDIC NATURALS
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. RAINBOW LIGHT
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. SMART PANTS VITAMINS
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. OTHERS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. DrFormulas
2. Hero Nutritionals
3. Nature Made
4. Nordic Naturals
5. Rainbow Light
6. Smart Pants Vitamins
7. Others
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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