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.
“An increasing number of market players are jumping onto the bandwagon of manufacturing organic citrus gummies to capitalize the growing consumer demand for supplements free of chemical additives,” remarks FMI analyst.
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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To Know More About Citrus Gummies Market
A new market research report published by Future Market Insights (FMI) on the global citrus gummies market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2019-2027. The report examines the market through four different segments – nature, packaging, customer orientation, sales channel, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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