Regardless of where you grew up, there’s a good chance gummy bears were part of your childhood.
And there’s a good chance that’ll be the case for generations to come.
What started as a novelty candy 100 years ago has evolved into a full-blown gummy economy that’s only getting bigger, according to The New York Times.
… were invented in Germany in 1922 by Hans Riegel, the founder of Haribo. It took ~60 years for gummy bears to take off in the US, but once they did, competition arose quickly:
Along the way, rival candy companies pushed gummies beyond the bear, like Trolli’s sour gummy worms and Mondelez’s Sour Patch Kids.
… gummies were given a new purpose: Hero Nutritionals introduced the Yummi Bear, the 1st gummy vitamin.
The invention kicked off a booming market that’s still thriving. Nutrition Business Journal estimated American gummy vitamin sales at ~$1.4B in 2018.
More importantly, the move showed that gummies can be used to deliver more than just a sugar high, leading to a wide range of products, including:
Estimates peg the global CBD gummy market as high as ~$14B by 2028. Add that to the global market for gummy and jelly candy, which is estimated to reach $40B by 2024, and it’s clear gummies are big business.
One reason is nostalgia, according to Marcia Mogelonsky, director of insight at marketing analysis firm Mintel Food & Drink.
Candy store owner Elizabeth Schmitt agrees, saying gummies remind her of simpler times.
P.S. If you’re looking for a new way to enjoy your gummies, Schmitt’s store, Ruby Bond, offers a wide variety of gummy charcuterie boards.