With 2.10% CAGR, Mineral Supplements Market Size Worth US$ 14.8 Bn by 2028 | Zion Market Research | Global Industry Trends, Share, Growth, Value, Analysis & Forecast Report

NEW YORK, July 29, 2022 /PRNewswire/ -- As per Zion Market Research study, The global mineral supplements market size was worth USD 13.1 billion in 2021 and is estimated to grow to USD 14.8 billion by 2028, with a compound annual growth rate (CAGR) of approximately 2.10% over the forecast period.

Mineral Supplements Market: Overview

The term "mineral supplement" refers to a mixture of minerals, vitamins, and other compounds. Often known as electrolytes or trace minerals, macro minerals are a subset of minerals. Major minerals and trace minerals are the two main categories of minerals. Major minerals are those that the body uses and stores in large amounts, such as calcium, chloride, magnesium, sodium, phosphorus, potassium, and sulphur. The global market for mineral supplements is being pushed by urbanization, a rise in the number of elderly people, and a rise in the popularity of preventative healthcare. The market is expected to grow in acceptance of mineral supplements to manage chronic ailments as a result of the high prevalence of chronic diseases such as cancer, osteoporosis, anemia, and osteoporosis among the population. Growing awareness of healthy lifestyles and fitness clubs' expansion contribute to the market's expansion. Moreover, growing government programs to encourage a healthy lifestyle also expand the market. The market for mineral supplements is being driven by a number of important factors, including the growing elderly population, increased knowledge of preventative healthcare, and an increase in the prevalence of diseases like cancer & diabetes, among others. Additionally, the market for mineral supplements will experience growth during the anticipated period due to an increase in R&D activities, technological developments, and modernization of healthcare practices. However, among other things, the market growth for mineral supplements would be further hampered by the rise in the availability of counterfeit products, the lack of quality control, and inaccurate labelling.

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Key Industry Insights & Findings of the Mineral Supplements Market Reports:

• As per the analysis shared by our research analyst, the Mineral Supplements Market is expected to grow annually at a CAGR of around 2.10 % (2022-2028).
• Through the primary research, it was established that the Mineral Supplements Market was valued at approximately USD 13.1 billion in 2021 and is projected to reach roughly USD 14.8 billion by 2028.
• North America is expected to dominate the global mineral supplements market, ascribed to consumers spending more on healthcare and wellness due to rising disposable income and increased knowledge of healthcare needs.
• Consumers in the United States have easy access to dietary supplements, and tracking their usage over time is a crucial part of the National Nutrition Monitoring System.
• Asia Pacific regional market is expected to grow significantly in the mineral supplements market. The rising frequency of vitamin and mineral deficiencies among Asian consumers is expected to improve product sales.
• The availability of low-quality supplements sold by lesser-known or unknown brands or labels and the high costs of mineral supplements are significant factors limiting market revenue growth.

Zion Market Research published the latest report titled "Mineral Supplements Market By Application (Pharmaceuticals, Food & Beverages, and Others), By Product (Calcium, Magnesium, Iron, Potassium, Zinc, Chromium, Selenium, and Others), By End-user (Adult Women, Adult Men, Senior Citizens, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028." into their research database.

Industry Dynamics:

Mineral Supplements Market: Growth Drivers

• Rising health concerns among consumers are likely to pave the way for global market growth.

Consumer interest in dietary supplements infused with numerous vitamins and minerals is brought on by a number of circumstances, including vitamin deficiency, a compromised immune system, and other health issues. People are suffering from ailments related to vitamin deficiencies and chronic conditions like diabetes and obesity due to their hectic schedules and excessive fast food consumption. All these factors are likely to drive the global mineral supplements market during the forecast period.

Mineral Supplements Market: Restraints

• High cost of mineral supplements may hamper the global market growth.

The availability of low-quality supplements sold by lesser-known or unknown brands or labels and the high costs of mineral supplements are significant factors limiting market revenue growth. Other important factors include low visibility at stores, low consumer awareness of many products, and low visibility of many products among consumers.    

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Global Mineral Supplements Market: Segmentation

• The global mineral supplements market is segregated on the basis of application, product, end-user, and region.

By application, the market is divided into pharmaceuticals, food & beverages, and others. Among these the pharmaceuticals segmented the market in 2021. This is linked to the fact that many pharmaceutical products continue to use nutrients, such as minerals, as a source of medication, a practice that has developed over many years and is still prevalent today. More novel mineral supplement products are anticipated to be introduced in the near future, thanks to the pharmaceutical industry's growing investment.

Based on product, the market is divided into calcium, magnesium, iron, potassium, zinc, chromium, selenium, and others. Among these, the calcium segment dominates the market, and accounted for a revenue share of over 25.0% in 2021.

By end-user, the market is divided into adult women, adult men, senior citizens, and others. Over the forecast period, the women segment is expected to develop at the fastest rate in 2021. This is primarily related to the excessive consumption of mineral supplement items during the prenatal and postnatal phases when the female body requires more nutrients. In addition, women athletes also use dietary supplements, including mineral supplements, to meet their nutritional needs in order to remain healthy and in shape.

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List of Key Players in Mineral Supplements Market:

• Glanbia Plc.
• Nu Skin Enterprises Inc.
• E. I. du Pont de Nemours and Company
• NBTY Inc.
• Koninklijke DSM N.V.
• Amway
• Herbalife Ltd.
• BASF SE
• Bayer AG
• Atrium Innovations Inc.

Key questions answered in this report:

• What are the growth rate forecast and market size for Mineral Supplements Market?
• What are the key driving factors propelling the Mineral Supplements Market forward?
• What are the most important companies in the Mineral Supplements Market Industry?
• What segments does the Mineral Supplements Market cover?
• How can I receive a free copy of the Mineral Supplements Market sample report and company profiles?

Report Scope:

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Recent Developments

• In January 2020, a new private-label line was added to The Vitamin Shoppe's in-store selection. Vthrive, the items under the Vitamin Shoppe name are devoid of synthetic dyes, flavors, and sweeteners. The vitamin, mineral, and supplement formulae don't contain titanium dioxide, magnesium stearate, or stearic acid.
• In September 2019, the debut of "Only Me," an online evaluation for a personalized vitamin supplement solution, was announced by The Vitamin Shoppe.

Regional Dominance:

• Rising consumers spending on healthcare and wellness likely to help North America dominate the global market

North America is expected to dominate the global mineral supplements market, ascribed to consumers spending more on healthcare and wellness due to rising disposable income and increased knowledge of healthcare needs. The U.S.'s rising mineral supplement consumption is predicted to fuel the expansion of the North American market. The adult population in the United States frequently uses dietary supplements, according to the Centers for Disease Control and Prevention (CDC). Consumers in the United States have easy access to dietary supplements, and tracking their usage over time is a crucial part of the National Nutrition Monitoring System.

Over the forecast period, Asia Pacific regional market is expected to grow significantly in the mineral supplements market. The rising frequency of vitamin and mineral deficiencies among Asian consumers is expected to improve product sales. In addition, growing awareness of the necessity of appropriate diet and vitamin & mineral consumption, as well as fast urbanization and rising disposable income, are expected to be some of the positive aspects driving market expansion in Asia Pacific.

Global Mineral Supplements Market is segmented as follows:

Mineral Supplements Market: By Application Outlook (2022-2028)

• Pharmaceuticals
• Food and Beverages
• Others

Mineral Supplements Market: By Product Outlook (2022-2028)

• Calcium
• Magnesium
• Iron
• Potassium
• Zinc
• Chromium
• Selenium
• Others

Mineral Supplements Market: By End-User Outlook (2022-2028)

• Adult Women
• Adult Men
• Senior Citizens
• Others

Mineral Supplements Market: By Region Outlook (2022-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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