Mineral Supplements Market to Grow at 7.88% CAGR over 2025 to 2029
Rising disposable income in developing countries and advancements in product formulation & technology is expected to drive the Global Mineral Supplements Market growth in the forecast period.
According
to TechSci Research report, “Mineral Supplements Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2019-2029F”,
the Global Mineral Supplements Market stood at USD 14.93 Billion in 2023 and is anticipated to
project steady growth in the forecast period with a CAGR of 7.88% through 2029. The
Global Mineral Supplements Market is primarily driven by several key factors.
Rising awareness about health and wellness, along with a growing prevalence of
diseases caused by mineral deficiencies, are major drivers. The ongoing trend
of preventive healthcare, where people are making dietary changes to prevent
health problems, is also fueling the market.
Additionally,
the aging global population, which typically requires mineral supplementation
to maintain health, contributes significantly to the demand. Advancements in
product formulation and a growing distribution network, particularly in
developing economies, offer further growth opportunities for the market.
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"Global Mineral Supplements Market.”
The
global mineral supplements market has been experiencing a significant surge
over recent years, driven by various factors such as increasing health
consciousness, the rise in geriatric population, and escalating incidences of
illnesses related to mineral deficiencies.
In
today's fast-paced world, the shift towards processed food due to convenience
has led to a decrease in nutrient-rich diets, with more and more people
suffering from dietary imbalances. These imbalances, coupled with an increasing
interest in preventative healthcare, have fueled demand for mineral
supplements. These supplements are perceived as a key to enhancing overall
health and wellness, addressing deficiencies, and reducing the risk of chronic
diseases.
The
market is also experiencing a shift in type of mineral supplements desired by
consumers. There's a growing trend towards natural and plant-based mineral
supplements over synthetic versions. Consumer preference for organic, non-GMO,
gluten-free, and vegan options have also carved out a niche market.
Companies
in the market are focusing on research and development to come up with
innovative mineral supplements that provide optimum nutrition, as well as
leveraging strategic partnerships and acquisitions to widen their product
portfolio and expand reach. Some of the major players in the market include
Glanbia, Nu Skin Enterprises, Bayer, and Amway.
On
the regulatory front, the mineral supplements market is heavily governed by
strict regulations from bodies such as the Food and Drug Administration (FDA)
and European Food Safety Authority (EFSA) ensuring the safety and efficacy of
these products.
However,
the market faces challenges such as potential side effects and interactions of
mineral supplements, misinformation about supplement use, and the lack of
substantial scientific evidence to support some of the health claims made by
supplement companies.
Despite
these challenges, the global mineral supplements market is expected to maintain
its growth momentum in the future. The rapid urbanization, rise in disposable
income, increasing health consciousness, and the emergence of e-commerce are
set to further boost the market. To sum up, the global mineral supplements
market is a dynamic, evolving field with vast opportunities for growth and
innovation. The future seems promising with the convergence of trends like
personalization, sustainability, and technological advancements in supplement
development and distribution.
The
Global Mineral Supplements Market is segmented into product type, formulation,
distribution channel, end user, regional distribution, and company
Based
on formulation, Tablets are undeniably dominating the Global Mineral
Supplements Market, thanks to their unparalleled convenience, ease of use, and
exceptional ability to deliver a consistent dose. With their mess-free and
portable nature, tablets effortlessly blend into daily routines, providing a
seamless experience for users. Moreover, what sets tablets apart is their
remarkable engineering. Through meticulous formulation, precise amounts of each
mineral are incorporated, ensuring that users receive the exact nutrients they
need. This commitment to accuracy and simplicity leaves no room for guesswork
and has made tablets the preferred choice for health-conscious consumers
worldwide.
In
addition to their precise nutrient delivery, tablets also offer extended shelf
life, retaining their potency and effectiveness for longer periods. This means
that users can rely on tablets to consistently provide the necessary minerals,
even when stored for extended durations. Furthermore, tablets come in a wide
range of flavors and varieties, catering to different preferences and dietary
requirements. From fruity flavors to specialized formulations for specific
health needs, there is a tablet option to suit every individual. With their
reliable and customizable nature, tablets have become synonymous with reliability
and ease in the realm of mineral supplements. Whether it's for daily
supplementation or targeted health goals, tablets offer a comprehensive
solution that ensures users can meet their nutritional needs with confidence
and convenience.
Based
on region, the Asia-Pacific region holds a dominant position in the Global
Mineral Supplements Market, primarily driven by factors such as rising health
awareness, an aging population, growing urbanization, and increasing disposable
income. As people become more health-conscious, there's a strong demand for
mineral supplements to prevent nutrient deficiency and promote overall
well-being. Additionally, the region's rapidly aging population is contributing
to this trend, as older individuals often require dietary supplements to
maintain health. Furthermore, with urbanization and economic growth, people in
the Asia-Pacific region have more disposable income to spend on health and
wellness products, including mineral supplements.
Major
companies operating in Global Mineral Supplements Market are:
- Glanbia, plc
- Abbott Laboratories, Inc.
- Nestle S.A.
- Biovea
- Herbalife
International of America, Inc.
- Sanofi S.A.
- Amway International, Inc.
- Bayer AG
- Omega Protein
Corporation
- Bio Botanica, Inc.
- Pharmavite LLC
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“The
future of the Global Mineral Supplements Market looks promising, fueled by a
heightened awareness of health and wellness worldwide. With the increasing
prevalence of chronic diseases and the population's rising interest in
preventative healthcare, the demand for mineral supplements is expected to
surge. Furthermore, the market's expansion can be attributed to the growing
geriatric population, crucial advancements in supplement formulation technology,
and robust marketing strategies employed by key players. However, the market
might face potential challenges such as stringent regulatory norms and
potential health risks associated with excessive intake of mineral supplements.
Despite these hurdles, the market is poised for considerable growth in the
years ahead.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“Mineral Supplements Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast,Segmented By Product Type
(Calcium, Magnesium, Iron, Potassium, Zinc, Chromium, Selenium, Others), By
Formulation (Capsule, Tablet, Powder, Liquid/Gel, Others), By Distribution
Channel (Pharmacies & Drug Stores, Supermarkets & Hypermarkets, Online
Channels), By End User (Adults, Geriatric, Pregnant Women, Children, Infants), By Region and Competition, 2019-2029F”,
has evaluated the future growth potential of Global Mineral Supplements Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Mineral Supplements Market.
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