The Global Mineral Supplements Market size is expected to reach $23.7 billion by 2030, rising at a market growth of 5.4% CAGR during the forecast period.
Iron supplements are frequently sought to prevent and treat iron deficiency anemia, especially among individuals with inadequate dietary iron intake, pregnant women, and those with increased iron requirements. Therefore, the iron segment attained 12.45% revenue share in 2022. Pregnant women require additional iron to support the growing fetus and prevent iron deficiency anemia.
With rising healthcare costs and a focus on disease prevention, there is a growing recognition of diet and nutrition's role in maintaining health and preventing chronic diseases. Nutraceuticals are seen as a proactive and preventive approach to health management, supplementing dietary deficiencies and supporting overall wellness.
Additionally, Modern dietary patterns, including processed and convenience foods, often result in nutritional gaps and imbalances. Many individuals may not obtain sufficient minerals from their diets, increasing their risk of deficiencies. Therefore, the rising prevalence of mineral deficiencies drives the market's growth.
However, Excessive intake of certain minerals, such as iron and calcium, can lead to toxicity and adverse health effects. Consumers may be unaware of the recommended daily allowances and exceed safe limits, posing a risk of overdose. Some supplements can interact with medications, affecting their absorption or efficacy. This lack of clarity can contribute to misuse or overuse, raising safety concerns. Therefore, adverse effects and safety concerns are hampering the market's growth.
Iron supplements are frequently sought to prevent and treat iron deficiency anemia, especially among individuals with inadequate dietary iron intake, pregnant women, and those with increased iron requirements. Therefore, the iron segment attained 12.45% revenue share in 2022. Pregnant women require additional iron to support the growing fetus and prevent iron deficiency anemia.
With rising healthcare costs and a focus on disease prevention, there is a growing recognition of diet and nutrition's role in maintaining health and preventing chronic diseases. Nutraceuticals are seen as a proactive and preventive approach to health management, supplementing dietary deficiencies and supporting overall wellness.
Additionally, Modern dietary patterns, including processed and convenience foods, often result in nutritional gaps and imbalances. Many individuals may not obtain sufficient minerals from their diets, increasing their risk of deficiencies. Therefore, the rising prevalence of mineral deficiencies drives the market's growth.
However, Excessive intake of certain minerals, such as iron and calcium, can lead to toxicity and adverse health effects. Consumers may be unaware of the recommended daily allowances and exceed safe limits, posing a risk of overdose. Some supplements can interact with medications, affecting their absorption or efficacy. This lack of clarity can contribute to misuse or overuse, raising safety concerns. Therefore, adverse effects and safety concerns are hampering the market's growth.
By Sales Channel Analysis
Based on sales channel, the market is divided into pharmacies & drug stores, supermarkets & hypermarkets, and online channels. The pharmacies & drug stores segment attained 53.14% revenue share in the mineral supplement market in 2022. Pharmacies and drug stores are staffed by trained healthcare professionals, including pharmacists.By Formulation Analysis
On the basis of formulation, the market is segmented into capsules, tablet, powder, liquid/gel, and others. In 2022, the liquid/gel segment attained 16.56% revenue share in the market. Liquid and gel forms of this are often touted for faster absorption rates than solid forms like tablets or capsules.
By Application Analysis
Based on application, the market is categorized into general health, bone & joint health, gastrointestinal health, immunity, and others. In 2022, the general health segment registered 42.20% revenue share in the market. The growing interest in proactive health management and preventive care is the prime reason for the segment's growth.By End Use Analysis
By end-use, the market is divided into adults, geriatric, pregnant women, children, and infants. The geriatric segment procured a 20.56% revenue share in the market in 2022. Geriatric individuals often face challenges related to bone health, including a higher risk of osteoporosis and fractures. Calcium, magnesium, and vitamin D supplements are sought after to support bone density and reduce the risk of bone-related issues.By Product Analysis
Based on product, the market is divided into calcium, magnesium, iron, potassium, zinc, chromium, selenium, and others. In 2022, the calcium segment garnered 39.86% revenue share in the market. Calcium is a critical mineral for developing and maintaining strong and healthy bones.By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region captured 27.26% revenue share in the market. Despite diverse food options, some individuals in North America may have dietary gaps and nutrient deficiencies.Recent Strategies Deployed in the Market
- 2023-Jul: Sanofi S.A. took over Qunol, a supplement company that provides high-quality, science-backed supplements that absorb into the body well. Through this acquisition, Sanofi would enhance its consumer healthcare portfolio.
- 2023-Jun: Nestle S.A. came into partnership with Dufry, a Swiss-based travel company. Through this partnership, Nestle S.A. would provide a solar health and wellness brand within the retailer's innovative store-in-store retail concept named Mind. Body. Soul.
- 2023-Feb: Herbalife Nutrition Ltd. Introduced "Herbalife V" a portfolio of plant-based products. The Herbalife V line includes products that are certified organic, kosher, and non-GMO verified. This range comprises two protein shake options and a range of dietary supplements crafted to enhance gut and immune health.
- 2022-Feb: Amway Corporation introduced "flavourful gummies and mouth-dissolving jelly strips". These products are suitable for modern lifestyles and as an on-the-go nutrition supplement. Additionally, it would enhance Amway's nutrition portfolio.
- 2021-Dec: Koninklijke DSM N.V. took over Vestkorn Milling, a food and beverage manufacturing company. Through this acquisition, Koninklijke DSM N.V. would establish a business focused on alternative protein, with an emphasis on leveraging synergies with DSM's innovative CanolaPRO™ rapeseed protein isolate.
- 2021-Aug: Nestle S.A. took over The Bountiful Company, an American dietary supplements company. Through this acquisition, Nestle S.A. would enhance its portfolio of vitamins, minerals, herbals, and supplements (VMHS) in mass retail, specialty retail, e-commerce, and direct-to-consumer in the US, while providing new products and sales channels around the world.
List of Key Companies Profiled
- Glanbia PLC
- Nestle S.A.
- Herbalife nutrition Ltd.
- Sanofi S.A.
- Amway Corporation
- Bayer Ag
- Omega Protein Corporation (Cooke, Inc.)
- Pharmavite LLC
- Koninklijke DSM N.V.
- Nu Skin Enterprises, Inc.
Market Report Segmentation
By Sales Channel- Pharmacies & Drug Stores
- Supermarkets & Hypermarkets
- Online Channels
- Tablet
- Capsule
- Powder
- Liquid/Gel & Others
- General Health
- Bone & Joint health
- Gastrointestinal Health
- Immunity
- Others
- Adults
- Geriatric
- Pregnant Women
- Children
- Infants
- Calcium
- Zinc
- Chromium
- Magnesium
- Selenium
- Iron
- Potassium
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Global Mineral Supplements Market by Sales Channel
Chapter 6. Global Mineral Supplements Market by Formulation
Chapter 7. Global Mineral Supplements Market by Application
Chapter 8. Global Mineral Supplements Market by End-use
Chapter 9. Global Mineral Supplements Market by Product
Chapter 10. Global Mineral Supplements Market by Region
Chapter 11. Company Profiles
Companies Mentioned
- Glanbia PLC
- Nestle S.A.
- Herbalife nutrition Ltd.
- Sanofi S.A.
- Amway Corporation
- Bayer Ag
- Omega Protein Corporation (Cooke, Inc.)
- Pharmavite LLC
- Koninklijke DSM N.V.
- Nu Skin Enterprises, Inc.
Methodology
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