Procaps Group, an integrated LatAm healthcare and pharmaceutical conglomerate, announced an expansion plan in the United States and Colombia for its Funtrition business through a new gummy manufacturing facility for nutraceutical and specialized gummy products.
Funtrition by Procaps offers a line of nutraceutical gummies with unique formulations, flavors and textures. Its 20+ years of experience manufacturing gummies have been built from new oral delivery systems for vitamins, minerals, and supplements.
Procaps Group models its new U.S. facility after its plant in Bogota, Colombia,which can produce 300 tons of gummies a month. Development will include a three-phase project starting with logistics, warehousing and offices scheduled to begin in Q1 2022, and packaging operations scheduled to begin in Q2 2022. The project is expected to be completed in Q4 2022, with full gummy manufacturing.
Gummy supplements have gained the most market share globally in relation to other non-pill formats– doubling in size over the last five years1. The gummy vitamins market is estimated to rise at a CAGR of over 13% globally and 11% in North America between 2021 and 2028. The gummy vitamins market saw 657 new products launched globally in 2021, and a CAGR of 26% from 2017 to 2021, and 201 new products launched in North America in 2021, and a CAGR of 15% from 2017 to 2021.