The latest report by IMARC Group, titled “Gummy Vitamins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, The global gummy vitamins market size reached US$ 6.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.25% during 2023-2028.
Gummy vitamins refer to dietary supplements that are easily chewable and comprise vitamin A, B6, B12, E, D3, D2, K, calcium, biotin, zinc, iron, potassium, thiamin, and magnesium. They are manufactured from gelatin, corn starch, water, sugar, and various colorings. They are widely available in different shapes, sizes, and flavors and are convenient for consumers facing difficulty in swallowing pills. Besides this, as they offer better taste as compared to other forms of vitamin supplements due to various flavorings, they are widely consumed by adults and children across the globe.
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Gummy Vitamins Market Trends:
At present, the rising demand for gummy vitamins around the world, as they nourish hair and promote growth, represents one of the key factors supporting the market growth. Besides this, the growing adoption of gummy vitamins among individuals due to improved skin benefits is offering a positive market outlook. In addition, the rising demand for gummy vitamins among the masses, as they prevent nutrient deficiencies and chronic diseases, is propelling the market growth. Apart from this, the wide availability of gummy vitamins through various distribution channels, such as online and offline stores, is offering a lucrative growth opportunity to industry investors. Furthermore, key players are introducing several gummy vitamins for vegans and diabetic individuals, which is strengthening the growth of the market.
Global Gummy Vitamins Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Bayer AG
- Bettera Wellness LLC
- Church & Dwight Co. Inc.
- Hero Nutritionals
- Ion Labs Inc. (DCC plc)
- Nature’s Way Products LLC. (Dr. Willmar Schwabe GmbH & Co. KG)
- Pfizer Inc.
- Pharmavite (Otsuka Pharmaceutical Co. Ltd)
- Santa Cruz Nutritionals
- SmartyPants Vitamins (Unilever plc)
- The Honest Company Inc.
- Vitakem Nutraceutical Inc.
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The report has segmented the market on the basis on type, demographics and sales channel.
Breakup by Type:
- Single Vitamin
- Multi Vitamin
- Prebiotics and Probiotics
Breakup by Demographics:
- Children
- Adult
Breakup by Sales Channel:
- Supermarkets and Hypermarkets
- Speciality Stores
- Retail Pharmacies
- Online Stores
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Absorption Costing MCQs with Answers Explanation Engineering ECE
What Is Absorption Costing?
Absorption costing, also known as the all-encompassing, all-inclusive, or comprehensive costing method, is a sophisticated and perplexing managerial accounting framework that attempts to incorporate all expenses that are linked to the production of a particular product. This method is highly intricate and involves a copious amount of calculations and analyses to arrive at the total cost of production.
Every minuscule expense, whether direct or indirect, such as raw materials, labor, rent, utilities, depreciation, maintenance, insurance, and every other associated cost, is taken into account to determine the total cost of the product. The complexity of this method is staggering, and it requires extensive knowledge of accounting principles, an understanding of manufacturing processes, and advanced analytical skills to execute.
However, despite its complexity, absorption costing is still widely used in the industry due to its comprehensive approach to providing an accurate picture of the cost of production. Moreover, under the generally accepted accounting principles (GAAP) in the United States, absorption costing is an approved method for external reporting. In contrast, variable costing is prohibited, adding to the confusion and perplexity surrounding this topic.
Which of the following costs would NOT be included in the cost of goods sold calculation under absorption costing?
a) Direct materials
b) Direct labor
c) Variable manufacturing overhead
d) Fixed manufacturing overhead
Answer: c) Variable manufacturing overhead
Explanation: Under absorption costing, both fixed and variable manufacturing overhead costs are included in the cost of goods sold calculation. Direct materials and direct labor costs are also included.
When production exceeds sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: a) Higher net income than variable costing
Explanation: When production exceeds sales, there will be more fixed manufacturing overhead costs that are absorbed into the cost of goods sold calculation under absorption costing. This results in a higher net income compared to variable costing, which only includes variable manufacturing costs in the cost of goods sold calculation.
Which of the following statements is true about absorption costing?
a) It is used for external reporting purposes
b) It is used for internal decision-making purposes
c) It is the same as variable costing
d) None of the above
Answer: a) It is used for external reporting purposes
Explanation: Absorption costing is required for external financial reporting purposes, such as on the income statement and in financial statements. Variable costing, on the other hand, is often used for internal decision-making purposes.
In a period of increasing production and sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: c) The same net income as variable costing
Explanation: When production and sales increase, absorption costing and variable costing will result in the same net income. This is because there will be fewer fixed manufacturing overhead costs per unit under absorption costing, but there will also be more units sold.
