Market Expansions, Collaborations and
Acquisitions are Providing Traction to the Market Growth
Major industrial players are
concentrating their efforts on R&D in order to create products and services
in order to expand their product offering. They are also strengthening their
market position using a variety of market strategies such as product launches,
mergers, partnerships, and acquisitions. For example, Smith & Sinclair, the
producers of the world's first alcoholic cocktail gummies, launched the first
step of their globally expansion in September 2019, with the London-based firm
expanding into Europe and the United States. As part of this, the brand will
market its disruptive products while also expanding its brand partnership and
product innovation section. Later, in June 2021, Hard Seltzer Beverage Co.,
LLC, manufacturers of Truly Hard Seltzer, and Sugarfina USA LLC, a luxury candy
maker, had joined forces on limited-edition, Truly-infused, non-alcoholic gummy
bears in four delicious flavours — watermelon kiwi, pineapple, mango, and
passion fruit. Additionally, in November 2019, in a deal allowed by the United
States Bankruptcy Court for the District of Delaware, the Bristol Luxury Group
bought "substantially" all of the assets of Sugarfina, Inc. and its
affiliates. According to the private equity group, the deal comes less than two
months after the original bankruptcy procedures began. The transaction was
worth around $15.1 million.
Rising Focus on Improving Online Presence
is Stimulating the Market Development
The global market for alcohol
gummies is expected to be driven by the increasing preference for confectionary
products. The rising purchasing power of the consumers is resulting in
extravagant purchasing behaviour to pay for their wishes. In addition, rising
demand for alcohol gummies among younger individuals has encouraged
manufacturers to focus on the expansion of their product offerings and gain a
stronger customer base. In order to attain this, manufacturers need to have an effective
online presence. Since e-commerce remains a very small distribution channel for
confectionaries like alcohol gummies, manufacturers will need to invest in
developing their online presence in order to acquire share in this channel. One
of the most essential aspects for confectionery e-commerce growth will be
positioning. Confectionery sales rely heavily on impulse purchases, therefore market
participants must examine how to recreate these instances online. Some
businesses place advertisements in popular online games, films, even at the
grocery checkout while purchasing online. These strategies are anticipated to
aid in the expansion of the alcohol gummies market
Rising Demand for Alcohol Gummies is
Driving the Market Progress
The alcohol gummies market is
expected to grow exponentially during the forecast period. This growth can be
attributed to the rising appeal of these gummies among the younger consumers searching
for a simple and low-calorie method to consume alcohol. In addition to this,
these gummies are gaining popularity as an alternative way for alcohol
consumption. Furthermore, the increased availability of these gummies has made
them more accessible to a larger audience, resulting in more individuals trying
them out and becoming repeat customers. Apart from this, the rising popularity
of alcohol gummies, owing to their numerous advantages such as easing stress
and anxiety, is expected to drive market expansion. All these factors are
anticipated to have a positive impact on the alcohol gummies market growth.
Adverse Effects,
High Costs an Lack of Consumer Awareness are Likely to Hamper the Market
Development
Some constraints associated with
the alcohol gummies are anticipated to hamper their growing demand during the
forecast period. For instance, the adverse effects of excessive alcohol gummy
intake may hinder market expansion. For example, alcohol gummies include a lot
of sugar, which can cause digestive difficulties, hair loss, nerve damage,
nausea, bloating, diarrhoea, and weariness if ingested in high quantities. In
addition to this, the high research & development expense for producing
alcohol gummies remains a significant barrier. Furthermore, the high costs of
raw material are also impeding the market growth. Moreover, the market for
alcohol gummies is niche. As a result, the growth of the alcohol gummy market
is dependent on product awareness among consumers. The main issue limiting the
growth of the global market for alcohol gummies is a lack of consumer knowledge
regarding the availability of alcohol gummies, particularly in emerging markets
in Asia-Pacific, Latin America, and Africa.
Smith & Sinclair US,
Sugarfina USA LLC, Maggie Lyon Chocolatiers, Kate & Belle, The Candy Store,
SugarSin, Inebriated Baker, Arewa Treats, Lolli & Pops, Squish Candies are
some of the prominent market players operating in the global alcohol gummies
market.
Presence of Major Market Participants and
Availability of Variety of Products are Accelerating the Market Expansion
North America is expected to
witness growth in the alcohol gummies market owing to the presence of key
players in the region. In addition, other significant reasons impacting market
growth in the region include the increased popularity of alcohol gummies due to
customer preferences, their availability in a range of flavours, and the
cultural tradition of drinking them on special occasions. Furthermore, Europe
is also anticipated to experience a significant growth in the market during the
forecast period. This growth is influenced by increased customer demand for
these items, their availability in a variety of flavours and consumer
awareness. Also, the rising trend in the of serving bite-sized snacks at social
events, conferences, and parties will enhance alcohol gummy sales throughout
the forecast period. On the other hand,
Asia Pacific is expected to witness a surge in demand for these products owing
to the increasing disposable income and awareness of this product. In response
to this trend, manufacturers are investing in partnerships, collaborations, and
mergers to enhance their production capacity in this region. Such developments
are expected to be beneficial to the market growth during the forecast period.
The report provides a detailed
overview of the alcohol gummies market insights in regions including North
America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and
Africa. The country-specific assessment for alcohol gummies market has been
offered for all regional market share, along with forecasts, market scope
estimates, price point assessment, and impact analysis of prominent countries
and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates
are also incorporated for every country and region, to provide a detailed view
of the alcohol gummies market. These Y-o-Y projections on regional and
country-level markets brighten the political, economic and business environment
outlook, which are anticipated to have a substantial impact on the growth of
the alcohol gummies market. Some key country and region included in the alcohol
gummies market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Alcohol Gummies Market Research Report
Covers In-depth Analysis on:
·
Alcohol gummies market segments
·
Alcohol gummies market dynamics
·
Alcohol gummies market value and share analysis
·
Recent trends, restraints, opportunities in alcohol
gummies market
·
Companies & competition involved alcohol
gummies market
·
Latest technologies in alcohol gummies market
·
Supply chain and value chain alcohol gummies
market
·
Alcohol gummies market sales and distribution
strategies
Alcohol Gummies Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Alcohol gummies industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on alcohol gummies market forecast
by countries
·
Essential information to enhance market position
Kefir Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2018-2033
Beetroot Powder Market - Forecast, COVID -19 Impact, Trend Analysis & Competition Tracking - Global Market Insights 2016-2031
Regenerative Agriculture Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Market Insights 2019-2034